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Is Basic Universal Income Viable in Singapore?
By Something About Finance  •  January 1, 2022
Contributed By: The Big Fat Whale The concept of Basic Universal Income could be traced back to 1796 proposed by Thomas Paine in the United States. Ever since then, there have been actual experiments in Alaska, Africa, Iran, Netherlands, Finland, etc. Most are implemented on a small scale but Alaska and Iran are on a nationwide level, they are still running the scheme. Alaska payout is around $1000-$2000 per year to all citizens since 1982. The amount depends on the oil revenues of their state-owned investment fund. However, the population of Alaska is just 730,000 people which makes financing it more manageable. As for Iran, there is a population of 84 million people, the universal basic income has been implemented since 2011. The amount equates to US$40 per person per month which sums up to US$480 per year. Why the need for a UBI? In an ideal world...
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By Something About Finance
Welcome to My Blog. Hoping to share and learn from others on finance related topics. Let's embark on the journey towards financial freedom. Currently, I am an appointed representative (Equities and Futures Broker) with an established brokerage firm in Singapore. I deal mainly with Equities, Futures and Forex.
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