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Jack Dorsey Donates Another $15M to Mayors for a Guaranteed Income

“I’m now convinced that the simplest approach will prove to be the most effective – the solution to poverty is to abolish it directly by a now widely discussed measure: the guaranteed income.” – Reverend Doctor Martin Luther King, Jr.

Inspired directly by the words of MLK, and by the struggles of his own youth and community, Mayor Michael D Tubbs of Stockton, California worked with the Economic Security Project to found Mayors for a Guaranteed Income in June, 2020. During the first crush of the pandemic, while 10 million Americans were suddenly without income or safety net, 30 mayors from all over the country began working together to establish guaranteed income programs in their cities.

“So many of our constituents were in food lines for Thanksgiving,” said Tubbs.

“Covid-19 has made it very, very clear to build back better we have to make sure everyone has an income floor,” he said. “We’re all taking considerable political risk in doing this, but we understand that the biggest risk is nothing changes.”

For Tubbs, the risk was almost certainly a factor in his defeat this November by Republican opponent Kevin Lincoln. However, leaving the mayoral office in January will not stop his participation in this program or his platform of guaranteed income.

At the debut of the program, Jack Dorsey, co-founder of Twitter and Square, donated $3 million to help launch its efforts. Now as the program gains structure and momentum, he has donated another $15 million, to be divided evenly among the 30 pilot cities ($500,000 each.) Each city will then decide how to allocate those funds. For instance, Stockton will be providing $500 per month to participants. Dorsey’s donation will cover a thousand of those payments.

“Thank you Mayor [Tubbs] and to all the Mayors of @mayorsforagi for these universal basic income pilots! I hope they inform federal policy in the future,” tweeted Dorsey on Tuesday.

Source: CNBC

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Jack Dorsey Gives $5M to Andrew Yang’s Universal Basic Income Experiment

In early March, while governments were still figuring out how seriously to take the COVID-19 crisis, Andrew Yang seems to have seen the writing on the wall. The former Presidential candidate launched Humanity Forward, a nonprofit focused on continuing the promises of his platform, especially Universal Basic Income (UBI) and data privacy by encouraging new voters and voting down-ballot, clear down to the local levels. Grassroots progress at its most democratic.

As March wore on and American unemployment suddenly rose from 4 percent to over 20 percent, Yang announced that his organization would begin experiments in offering UBI. They began with a $500,000 budget, experimenting in a small, unnamed New York town to study the benefits. On March 20th, CNN announced that Humanity Forward would spend $1 million in $1,000 payments to 500 low-income Bronx households during the crisis. 

Yang always planned to expand those numbers, if he could seek out additional funding. On Sunday, May 21, Jack Dorsey gave him some of that. The Twitter billionaire donated $5 million to Humanity Forward, and Humanity Forward has announced that plans to immediately distribute that money in $250 grants to nearly 20,000 people who have lost their jobs or their hours to the pandemic.

Dorsey, who backed Yang’s run for the presidency, believes that UBI is a necessary antidote to capitalism gone over the top, and that it can’t remain only an intellectual problem. “The only way we can change policy is by experimenting and showing case studies of why this works,” he said on Yang’s podcast, Yang Speaks.

“Not only will Jack’s donation directly impact tens of thousands of people in need during the current economic downturn, it will help Humanity Forward and our movement continue to make a case for universal basic income in the United States,” said Yang in a released statement. “We know UBI for every American is possible, and this $5 million from Start Small [Dorsey’s charitable foundation] is going to help demonstrate what is possible for families across the country.”

Editorial credit: Frederic Legrand – COMEO / Shutterstock.com