This was reported at Seeking Alpha this morning. So is Universal Basic Income a good idea? To a socialist, nothing could be better.
Only problem? Who pays for it? For a city that has been struggling to balance it's budget, I find it absurd.
(Is $500 a month for 1,000 people "universal" and "basic income?" I try not to be cynical, but sounds like buying votes to me.)
As Margaret Thatcher once said: "The problem with socialism is that eventually you run out of other people's money."
Those interested in expanding their knowledge of the subject will find these articles worth their time:
Why Socialism Doesn’t Work, as Learned by a Waiter