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Universal Basic Income Payment Schedule – Requests for $500 direct payments end TOMORROW – request money now

By on May 12, 2022 0

THE deadline for applications for the nation’s largest universal basic income program in Chicago is TOMORROW.

Applications for the Chicago Resilient Communities Pilot close on May 13, which is this Friday.

About 5,000 low-income Chicago households will get $500 a month for a year under $31 million program which should benefit families facing economic difficulties.

Applications opened April 25 and will close Friday at 11:59 p.m. CT.

To be eligible, residents must live in the city of Chicago, be 18 or older, have experienced economic hardship related to Covid-19, and have a family income at or below 250% of the federal poverty level.

To learn more about the app, families can visit chicago.gov/cashpilot.

Read our Universal Basic Income live blog for the latest news and updates…

  • Chicago Resilient Communities Pilot Eligibility

    Residents must meet the following requirements to be eligible for the program:

    • 18 and over
    • Have experienced economic hardship due to the pandemic
    • Have a family income of 250% or less of the federal poverty level; that’s less than $58,000 for a family of three.

    Those who meet the qualifications will be placed in a city-wide lottery and application process.

    Residents can apply at any time throughout the three-week period, ending TOMORROW, Friday, May 13 at 11:59 p.m.

  • Resilient Communities Pilot Project in Chicago

    One of the nation’s largest monthly cash assistance programs is the Chicago Resilient Communities Pilot.

    It will give $500 a month to 5,000 low-income families for one year.

    With a budget of $31.5 million, the initiative will provide monthly cash with no strings attached.

  • UBI review

    Robert Greenstein with the Center on Budget and Policy Priorities highlighted some apparent flaws with UBI.

    Overall, Greenstein believes the biggest hurdle is funding UBI payments.

    While some people think this investment could replace the current welfare state, Greenstein argued that universal payments to all citizens would redistribute income “upwards” rather than focusing on low-income groups who need it. silver.

  • UBI Utilization Study

    According to a study conducted as part of the Universal Basic Income initiative and quoted by a local media Finger Lakes 1:

    • 28% of funding went to food
    • 28% of funding went to services
    • 24% of funding went to sales and merchandise
  • The labor force could shrink with the RUB

    earned income motivates people to worksucceed, collaborate with others and learn new skills.

    According to Charles Wyplosz, PhD, professor of international economics at the University Institute of Geneva, “if we pay people, unconditionally, to do nothing…they will do nothing”, which will result in a less functional.

  • Programs similar to UBI

    There are different and somewhat similar programs to the universal basic income. Some examples are:

    • pensions
    • Family allowances
    • Conditional cash transfers
    • Guaranteed minimum income
    • Full and partial basic income
  • What did Elon Musk say about UBI?

    Solar City, SpaceX and Tesla founder and CEO Elon Musk said CNBC in 2017 that due to advances in technology, he thinks UBI might be on the horizon.

    All over the world, employees are losing their jobs because of automation.

    As technology advances and we move closer to self-driving vehicles and artificial intelligence assistants, employment will be taken away from a talented workforce.

    He said: “There’s a good chance we’ll end up with a universal basic income, or something like that, because of automation.”

  • Which countries have UBI?

    A universal basic income is being tested in a number of cities, states and countries in addition to the United States.

    Some of them are:

    • Canada
    • Finland
    • Kenya
    • Scotland
    • Taiwan
    • Macau
    • Namibia
    • hong kong
    • Netherlands
    • Germany
    • Iran
    • Brazil
    • India
    • China
  • Likely cost of UBI in the United States

    In 2012, there were 163 million people working in the United States, according to the Bureau of Labor Statistics.

    Paying each of them $12,490 (the poverty line for one person in 2019) for that year would have cost $2.04 trillion, according to The balance.

    Although part of this cost can be reduced by eliminating redundant social programs and other types of consolidation, it would almost certainly increase the national debt, according to The Balance.

  • Negative income tax, part two

    It was hoped that by making these negative tax payments, the government would be able to reach more people than current support programs, reduce cost and complexity, and remove the disincentive to work posed by a tax rate. high tax.

    In the 1960s and 1970s a number of experiments with negative income taxes were conducted, notably in New Jersey.

    The concept, however, never caught on, according to American News.

  • What is negative income tax?

    As universal basic income has gained ground, a negative income tax is another proposal to help alleviate poverty in the country.

    It was proposed by Milton Friedman, a professor at the University of Chicago, in 1962, and argued for the federal government to distribute money to people in low-income groups through the income tax system. Income.

  • Disadvantages of UBI

    According to ProCon.orgthe three main disadvantages of universal basic income are:

    • The UBI deprives the poor of much-needed tailor-made help by taking money from them and giving it to everyone
    • It’s too expensive
    • UBI reduces work motivation, causing economic downturn and labor and skills shortage
  • Benefits of UBI

    According to ProCon.orgthe three main benefits of universal basic income are:

    • UBI improves physical and mental health while reducing poverty and financial inequality
    • UBI Leads to Increased Job Growth and Reduced School Dropout Rates
    • UBI provides a source of income for non-working parents and caregivers, empowering women in historically unpaid jobs
  • History of Universal Basic Income

    In the literal sense, the UBI’s intellectual history dates back about half a century. However, over the past two centuries, the concept that the government should somehow subsidize everyone’s profits has resurfaced as:

    • Citizen’s dividend
    • social credit
    • national dividend
    • Demogrant (a grant based on the demographics of a population)
    • Negative income tax
    • Mrevenu (also called guaranteed minimum income)

    Few of these plans meet the traditional basic income concept, and they are very different from each other. They do, however, have something in common.

  • Why UBI?

    Guaranteed income systems geared to certain income levels cannot overcome the deficiencies in public support and other benefits that a universal, unconditional cash transfer system can.

    Here are the reasons why there should be UBI programs at national scale :

    • If programs target low-income families exclusively and not the community at large, they will deteriorate over time.
    • Universal systems have the potential to help everyone; but, as people’s circumstances fluctuate, it’s hard to tell who needs it based on a single number or a single moment in time.
    • Means testing involves a significant amount of administrative time and money; UBI would be much more profitable.
  • How is UBI distributed?

    One of the most controversial aspects of universal basic income is the ability for individuals to receive money for no reason, according to GoBankingRates.com.

    They write that because of the universal nature of a UBI, many people who would receive checks should not – multi-millionaires or those who can but do not want to work, for example.

    However, without an eligibility-based application process, the program would be easier and cheaper to administer, possibly saving enough money on administrative expenses to cover more than just payments to people who would otherwise be disqualified.