Posted 4 years ago on Dec. 6, 2015, 11:35 p.m. EST by Renneye
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~" As a way to improve living standards and boosts its economy, the nation of Finland is moving closer towards offering all of its adult citizens a basic permanent income of approximately 800 euros per month.
The monthly allotment would replace other existing social benefits, but is an idea long advocated for by progressive-minded social scientists and economists as a solution—counter-intuitive as it may first appear at first—that actually decreases government expenditures and unemployment while boosting both productivity and quality of life.
"For me, a basic income means simplifying the social security system," Finland's Prime Minister Juha Sipilä said last week.
Though it would not be implemented until later in 2016, recent polling shows that nearly 70 percent of the Finnish people support the idea.
According to Bloomberg, the basic income proposal, put forth by the Finnish Social Insurance Institution, known as KELA, would see every adult citizen "receive 800 euros ($876) a month, tax free, that would replace existing benefits. Full implementation would be preceded by a pilot stage, during which the basic income payout would be 550 euros and some benefits would remain."
"Basic income would increase everybody’s capacity to cope with financial shocks and uncertainties and would improve general quality of life, while supporting many different kinds of work, with or without pay." —Anne B. Ryan, Enough Is Plenty
As reporting by the UK-based Metro notes:
While it may seem like a standard basic income would encourage people not to work, it’s actually designed to do the opposite.... "~
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