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by Ivana Kottasova @ivanakottasova May 24, 2016: 11:34 AM ET
What is income inequality?
What is income inequality?
Switzerland is considering giving every adult citizen a guaranteed income of
$2,500 a month. No questions asked.
The country is holding a national referendum on the introduction of a
basic income on June 5. Its supporters want the government to guarantee
each person a monthly after-tax income of at least 2,500 Swiss francs
($2,520).
Those in work and earning less than that would have their pay topped
up. Those out of work would be handed the full amount.
The income would be unconditional and untaxed, and would replace
various welfare payments. The Swiss government, which opposes the
initiative, says it would have to find 25 billion Swiss francs a year
to pay for the measure. New taxes, or spending cuts, would damage the
economy, it says.
Proponents of the universal income say Switzerland is a rich country
that can afford it. They say that hundreds of thousands of Swiss
people are at risk of losing their jobs because of advances in
technology, and the introduction of a basic income would give them
greater security.
Switzerland basic income The basic income campaigners say it would
boost enterpreneurship.
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