Finland Abruptly Cancels UBI Experiment

[Steve_In_29]

After only a year Finland canceled their Universal Basic Income trail run.

Surprise, surprise, who could have possibly known that giving unemployed people free money wouldn't lead to them seeking employment?

Finland’s “free money” experiment has come to a grinding halt.

Kela, the government agency in charge of redistributing benefits, revealed that the “basic income experiment did not increase the employment of participants during the first trial year”

In January 2017, Kela and the Finnish Centre for Economic Research teamed up to carry out a two-year experiment that randomly selected 2,000 unemployed Finns and gave them a monthly basic income of approximately $634. Mind you, these individuals were given the income stipend regardless of whether they were actively seeking employment.

Also according to the article it would take a 30% increase in taxes for Finland to fully implement the UBI scheme.

https://bigleaguepolitics.com/finlands-socialist-experiment-goes-off-the-rails/

 

[Flash]

The trouble with Socialism is that sooner or later you run out of other peoples' money.
~Margaret Thatcher

 

[Black_water]

We have had welfare for close to century: you ever get any employment opportunities from welfare recipients?

Does anybody really think that calling welfare something else is going to get a different result?

 

[Gatsby]

Stockton CA is latest trying the "experiment" and will come to the same conclusion.

https://fox40.com/2019/02/16/stockton-starts-giving-some-residents-500-a-month-to-fight-poverty/