Finland is proposing something that a lot of other countries are considering: ending the welfare system and instead hand out money to everyone each year.
The wealthy Scandinavian nation is considering ending all of the numerous and expensive welfare benefits and pay everyone $10,000 each year instead.
According to reports, the Finnish government, which consists of a center-right coalition that was elected earlier this year, will soon introduce a tax-free monthly payment of $865 (800 euros) to all Finns over the age of 18. Everyone will receive the monthly benefit, no matter one’s income, wealth or employment status.
However, the wealthiest Finns will likely just pay back the benefits in taxes.
Essentially, the $865 monthly benefit would replace all other kinds of state benefits. The overall price-tag will be approximately $54 billion.
“For me, a basic income means simplifying the social security system,” said Finnish Prime Minister Juha Sipila.
The Finnish government ultimately believes it will save money in the end since its welfare state is intricate and costly to run. If the government minimizes its exorbitant bureaucracy then it may have more money in the budget for other things.
Moreover, Finnish officials think this could lead to a positive effect for the rest of the population. Proponents of the plan believe people may start looking for work, especially since 10 percent are unemployed, which is the highest in more than 10 years. Pundits present the case that many Finns give up looking for work because they’re better off receiving jobless benefits than taking on a low-paing job.
Labor unions are against the idea because it means many public sector jobs would be slashed.
The proposal is scheduled to be finalized sometime next year and be experimented with in 2017. The trial period will consist of 550 euros each month and some other benefits like housing support. Right now, the agency heading welfare and national security is designing the initiative.
This basic income guarantee has been floating around for a few years now. Swiss voters overwhelmingly rejected the plan (SEE: Should U.S. adults be given a basic income just for being alive?). Some U.S. economists are making their cases that the country should implement this idea, especially since the federal government spends more than $1 trillion every year on welfare.
How about a basic employment guarantee instead of just another mindless money freebie handout? You idiots that believe everything HAS TO BE all about $$$ and irresponsible free markets. And that the ONLY other option has to be government sponsored socialism. And such is why you won’t have any survivable future as a result.