A network of mayors have formed a coalition in support of universal basic income and they just received huge backing from Twitter CEO Jack Dorsey, who donated an additional $15 million to the cause.
Dorsey previously donated $3 million to the initiative run by the organization called Mayors for a Guaranteed Income.
Stockton, California Mayor Michael Tubbs, started the pilot program last year before the pandemic affected the U.S. and since then several more have begun pilot programs of their own or have them slated to begin in 2021.
What the research has found is that when given a basic income floor, people spend the money in much the same way as higher income earners: to pay for things like housing, food, and this year, necessities needed to stay safe during the pandemic.
Tubbs said data collected "signaled a system error" in how the government ensures each person has the means to survive.
"The fact that you have all of us mayors calling folks in the private sector to make sure that our constituents have the basic necessities needed to live with dignity is actually abhorrent and unacceptable," he told Cheddar.
Stockton identified 125 residents who made less than the city's median income and selected them to receive $500 per month for 18 months from the local government. Since the onset of the pandemic, Tubbs has been able to extend the program in his city through January 2021.
While the program started in Stockton, where the population is just over 310,000 residents, Tubbs said it is possible for the same program to flourish in a larger city like New York, so long as the government is willing to intervene.
"Basic income could be piloted in cities, but to get to scale the federal government has to step up. And I think we forget that there is precedent for this. In 1935, during a Great Depression, FDR came up with the idea of unemployment insurance and social security, which were big federal expenditures, which met the moment, however," Tubbs explained.
The current program is open to all cities, and mayors can apply for up to $500,000 to allocate among residents.
The hope is that with enough collected data through the Center for Guaranteed Income Research at the University of Pennsylvania, Tubbs and the coalition of mayors can provide Congress with tangible proof that financially empowering those without means is not only good for morale but a significant boost to the economy as well.
"The idea behind the pilot is to really push action on a policy level to show that it's not scary. To show that the majority of the American people understand the economy is not working for working people," Tubbs said.
A big-screen adaptation of the anime “Chainsaw Man” has topped the North American box office, beating a Springsteen biopic and “Black Phone 2.” The movie earned $17.25 million in the U.S. and Canada this weekend. “Black Phone 2” fell to second place with $13 million. Two new releases, the rom-com “Regretting You” and “Springsteen — Deliver Me From Nowhere,” earned $12.85 million and $9.1 million, respectively. “Chainsaw Man – The Movie: Reze Arc” is based on the manga series about a demon hunter. It's another win for Sony-owned Crunchyroll, which also released a “Demon Slayer” film last month that debuted to a record $70 million.
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Boeing workers at three Midwest plants where military aircraft and weapons are developed have voted to reject the company’s latest contract offer and to continue a strike that started almost three months ago. The strike by about 3,200 machinists at the plants in the Missouri cities of St. Louis and St. Charles, and in Mascoutah, Illinois, is smaller in scale than a walkout last year by 33,000 Boeing workers who assemble commercial jetliners. The president of the International Association of Machinists says Sunday's outcome shows Boeing hasn't adequately addressed wages and retirement benefits. Boeing says Sunday's vote was close with 51% of union members opposing the revised offer.
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Tesla, the car company run by Elon Musk, reported Wednesday that it sold more vehicles in the past three months after boycotts hit hard earlier this year, but profits still fell sharply. Third-quarter earnings fell to $1.4 billion, from $2.2 billion a year earlier. Excluding charges, per share profit of 50 cents came in below analysts' estimate. Tesla shares fell 3.5% in after-hours trading. Musk said the company's robotaxi service, which is available in Austin, Texas, and San Francisco, will roll out to as many as 10 other metro areas by the end of the year.
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