Switzerland Just Voted Against Giving All Citizens A Universal Basic Income Of $2500!

Universal Basic Income is something that would make the entire world happy. The concept has been getting a lot of attention off late.

Even the government of Finland is planning a big experiment, in which about 100,000 people could get about $1,100 (Rs. 73595) a month.?

Canada and Spain are interested too.?

But it’s Switzerland that seemed ready to make this move.

Switzerland became the first country to actually vote on a basic income and voted by an overwhelming majority against it. The country's Federal Council had recently approved a law that would give all adults about $2,500 (Rs. 167287) a month, and kids about $625 (Rs. 41817).

The government itself wasn’t sure if this plan would be successful. However, artists, intellectuals, and former government officials had been supporting it.?

But there are critics too.?

This referendum was debated in the parliament last year and most politicians dismissed it.

Some parties argued that such a bill would make people lazy, while others suggested a basic income could erode support for the present welfare programs. ?

For the Swiss government, about three-quarters of the annual cost would be retained from new taxes.?

The citizens of Switzerland were always in two minds though. An online survey had revealed 49% of people were pro the initiative, while 43% aren’t.?

Well, it sounded like a good idea to us. But after Switzerland itself voted against it odds of other countries putting it into practice will get dimmer - so don't go all out planning that move just yet!