Government

Finland halts world's first universal 'basic income' and Bernie Sanders has a plan

A plan that granted Finnish citizens a no questions asked universal basic income (UBI) is over. Finland has decided to end a first of its kind welfare experiment after only two years after the government turned down a request for extra funding from the Finnish social security agency.

Participants of approximately 2,000 unemployed individuals from ages 25 to 58 were given €560 ($685) monthly without any sort of requirements. If they found a job, they were still granted a monthly stipend for the same amount.

According to Time, Finland's unemployment rate reached a record high of 10 percent in 2017 sparking a new debate on welfare reform.

One expert claimed two years was simply not enough to determine whether not a UBI had the potential for "success." Success being citizens with less anxiety in an insecure labor market and complex social security system.

As their program ends, Sen. Bernie Sanders (I-Vt.) introduced a bill that would guarantee a job, a salary, and health care to every American.

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