World Swiss to vote on $33,600/year (2,500 francs/month) universal basic income for every adult

[tom_mai78101]

(Reuters) - Switzerland will hold a vote on whether to introduce a basic income for all adults, in a further sign of growing public activism over pay inequality since the financial crisis.

A grassroots committee is calling for all adults in Switzerland to receive an unconditional income of 2,500 Swiss francs ($2,800) per month from the state, with the aim of providing a financial safety net for the population.

Organizers submitted more than the 100,000 signatures needed to call a referendum on Friday and tipped a truckload of 8 million five-rappen coins outside the parliament building in Berne, one for each person living in Switzerland.

Under Swiss law, citizens can organize popular initiatives that allow the channeling of public anger into direct political action. The country usually holds several referenda a year.

In March, Swiss voters backed some of the world's strictest controls on executive pay, forcing public companies to give shareholders a binding vote on compensation.

Swiss to vote on 2,500 franc basic income for every adult

Switzerland will hold a vote on whether to introduce a basic income for all adults, in a further sign of growing public activism over pay inequality since the financial crisis.

www.reuters.com

 

[Hatebreeder]

The Government will react with hyperinflation, so that 2,500 Frank will be effectivly worth nothing. So the prices will skyrocket and everyone will be in the same position again.

 

[seph ir oth]

The Government will react with hyperinflation, so that 2,500 Frank will be effectivly worth nothing. So the prices will skyrocket and everyone will be in the same position again.

As a friend put it, this is actually bad for the lower class cuz it draws away from their other benefits (healthcare/retirement stuffs they put in for) which is all equally drawn out by a flat % tax. Essentially, the big guys on top win from this cuz it lowers that % they gotta pay up.

 

[KMilz]

Aw, I misunderstood. I thought they were about to give Communism a try.

 

[Hatebreeder]

Aw, I misunderstood. I thought they were about to give Communism a try.

Depending on how coalitions are formed, you'll eventually see it in Germany quite soon.

 

[The Helper]

I wonder how this is working out for them now 10 years later?