12/08/2015 - FINLAND PROPOSES “HELICOPTER MONEY” (OMF)
Finland Government Officials Propose to Give Tax-Free Payout of $870 to Every Citizen Each Month.
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 while boosting both productivity, quality of life, and unemployment.
“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.”
Read more at http://globaleconomicanalysis.blogspot.com/2015/12/bernankes-helicopter-drop-hits-finland.html#aTG3KkokT0goe1Ia.99
