On Sunday, the vast majority of Swiss voters rejected a referendum that would have provided every citizen a guaranteed income of $2,500 Swiss francs regards of their employment status or wealth.
About 77 percent of Swiss voters were against the measure.As reported by CNN, the plan would have allowed those earning less than the minimum to have their pay topped up. Those out of work would have been handed the full amount. The income would of been unconditional and untaxed and it would have replaced various welfare payments.
The Swiss government also opposed the initiative stating it would of had to find 25 billion Swiss francs a year to pay for it. This would result in new taxes or spending cuts and could of damaged the economy.
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They also were afraid more people would refuse to work.
Switzerland is actually not the first county to debate the idea of a basic income. Finland considering getting rid of all welfare benefits and paying everyone $10,000 a year. A pilot program will launch early next year. Roughly 10,000 Finns will receive approxiametly 550 euros a month for two years.
Before you know it, the liberals will be proposing the idea of a basic income here in the United States.
