The $24m LA program, introduced as part of Mayor Eric Garcetti’s budget proposal, released on Tuesday, would provide $1,000 a month to 2,000 families for a year if passed by the city council. Like most other UBI plans, those given the funds can use the money however they please.
“We’re betting that one small but steady investment for Angeleno households will pay large dividends for health and stability across our city and light a fire across our nation,” Garcetti tweeted on Monday, announcing the new plan with a nod to Dr Martin Luther King who, as part of the civil rights movement, called for guaranteed income programs that would work to eradicate poverty. “We’re showing what it takes to fulfill Dr King’s call for a basic income once and for all.”
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Money given to the poor circulates. Money given to the rich takes a vacation in the Bahamas.