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UBI is dead; long-term guaranteed investments


Encouraged by this success, Tubbs set up an organization, the Mayor for Revenue Guarantee, to promote its city manager. To date, 42 mayors in the United States have signed up, and work is being done in towns and cities from Hudson, New York, and Gary, Indiana, in Compton, California.

Since The results for the first year of SEED were released in March, Tubbs is often asked what he has learned. “I’m tempted to just say ‘Nothing,’ ‘he told me at the end of March.

He means that the pilot did not tell him anything that was not known to him: he knew from experience that many ideas about the poor (especially the poor black people) were not, as he put it, “real settled.”

Tubbs was born in Stockton to a young mother and a imprisoned father. He went to Stanford for a scholarship, and returned home after graduation. He was soon elected City Council, before becoming mayor at just 26 years old.

Tubbs didn’t need to know that he could trust people to make sound financial decisions, but his experience helped him “learn the art of expression.”

He noted that “sometimes ideas, sometimes racism,” adorn people’s minds. Part of his job as mayor began to “explain the real and the non-existent,” he says. He saw an opportunity “to explain what is supported and what is proven and what is biased.”

The need to change the subject through research and evidence also became apparent to Nyandoro, of the Magnolia Mother’s Trust. A few days before the third group received the money, I asked him the research questions that he expected the new course to answer.

“We have enough data now to prove that the money works,” he told me. Now the question was not how money would affect low-income earners, but, “What data or information do we need to reach out to policy makers … to move their hearts?” What evidence would be sufficient to justify money being a government policy?

As a result, the cause of the difference was not only research but a global epidemic.

Plague effects

With home law laws shutting down many businesses — and destroying jobs, especially for low-income earners — the problem of American inequality has become increasingly difficult to ignore. Food lines were stretched for miles. Millions of Americans he was fired. Students without internet at home they use to live in parking lots to access Wi-Fi so they can study online.

This was very bad for the natives. By February 2021, black and Spanish women, who make up one-third of working women, account for about half of women who have lost their jobs. Black men, meanwhile, were unemployed almost double the number of other races, depending on the population analysis and the Pew Research Center.

All of this changed their discussions on the price of a fixed program. While the comparison was between starting costs and the current situation, it seems to be too expensive to avoid. But in the wake of the financial crisis caused by the epidemic, the emergency package was seen as necessary to start an economic recovery in the United States or, more precisely, former Federal Reserve chairman Jerome Powell said. “Spiritual descent“It’s a” tragic “result.

“Covid-19 has clearly demonstrated all the things that we who work with, work with, and agree with, people who are economically insecure know.”

“Covid-19 has clearly shown all the things that we who work with, and work with, and agree with, people who are economically insecure know,” says Tubbs. That is, poverty was not a matter of “people. It is a system. It is in accordance with this policy.”

Incentives and higher unemployment benefits — that is, direct money transfers to the United States without necessities — are provided with the help of many people. And earlier this year, Ana and Dependent Tax Credit (CTC) were raised who offer up to $ 3,600 per child, paid a small amount each month, for most American families.

This new benefit, which lasts for one year, is available even in low-income households; they had been exempt from previous tax evasion. And by sending a monthly payment of up to $ 300 per child, instead of just being paid back once a year, it gives families a better chance of budgeting. It is expected to reduce child poverty in the middle.

Washington may not use the language of guaranteed currency, but these programs are consistent with meaning.

The CTC is a “game changer,” said Natalie Foster, founder of the Economic Security Project, which provided funding to a number of pilots, including both SEED and the Mayor of Guaranteed Income. “It’s eliminating decades of American finance,” he says, and establishing sustainable strategies.

While his agency initially thinks it could take a decade from the city’s air traffic control to “inform federal regulations,” CTC means the guaranteed funding has arrived, for a while.

Incentives by the CTC also make Tubbs “stronger than ever” which ensures that the money that can be received soon can become a sustainable government solution.

“We’re living in a time of epidemics,” he says. “It’s not just a covid-19. It’s an earthquake next month. It’s a wildfire. All of these things are happening all the time – not to mention mechanical. We need to have the ability of our parents to survive economically.”

The role of poverty is “with these laws,” said Michael Tubbs, former mayor of Stockton, California.


But even though the allegations have left the technical impression of UBI, Silicon Valley’s interest in the whole has not diminished. Last April, Jack Dorsey announced a new charitable donation campaign, Start Small LLC, to donate $ 1 billion.

The donations only focus on covid-19 relief and then, after the epidemic, they move on to international education and girls ’education, he said. Investing for these reasons, Dorsey he explained, represented the “long-term solutions to the world’s problems.”

Although it announced its interest the whole universe start-up capital, StartSmall has become one of the largest financial institutions of can give you money. Donated $ 18 million to the Mayor of Guaranteed Income, $ 15 million to the Open Research Lab (formerly known as the Y Combinator basic experiment), $ 7 million to Humanity Forward, the foundation of Andrew Yang, and recently $ 3.5 million to establish a Cash Transfer Lab in New York University to do more research on the subject.

Yang, now running for mayor of New York City, has also given up his interest in the universe. Instead of sending checks $ 1,000 a month to everyone, they now recommend a minimum of $ 2,000 a year to people in New York who live in extreme poverty.

Tubbs prides itself on this change. He recalls a conversation with Dorsey when he told the billionaire, “It will take time to find all the ecosystems, but it is important for us to make money … So look, we are not trying … to test UBI. he can try money guarantee. Let’s start there. ”

If his contributions show anything, Dorsey listened to Tubbs’ voice. What is not yet known, however, is whether he and other professional leaders see the money guaranteed as a stepping stone to UBI or as its end. (None of the Dorsey or Start Small staff members did not respond to questions.)

Scott Santens, one of the very first “First money,” believes that initial interest in the technical component at UBI as a job loss solution is essential. The epidemic has led to an increase in sales of machines and robots, they say, citing reports that Amazon’s technical inquiry has increased, as has the purchase of storage robots instead of stockpiles.

Meanwhile, Sam Altman, who co-founded the UB Combinator pilot for UBI before going on to launch the initiative OpenAI, he wrote recently manifesto about the state of affairs. In it, he encouraged us to remain very busy: even if the epidemic has been temporarily frightening, with expertise, especially deep intelligence, which could have serious implications over time.

Altman demanded that UBI be taxed with a 2.5% tax on businesses. “The best way to promote capitalism is for everyone to benefit directly from it,” he wrote.

But can “everyone” include people of color, who are already various injuries and AI bias? And can a portion that is paid from the spoils of artificial intelligence make the worst? Altman’s manifesto ceases to mention any race.

When he arrived to comment, he sent a message through an OpenAI representative, “We must create AI in a way that does not harm oppressed areas. In addition to developing expertise in a fair and equitable manner, we must also find a way to share all its benefits. These are very important issues.”


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