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Twitter chief executive Jack Dorsey has said he will donate $3 million (roughly Rs. 22.55 crores) to a group of US mayors to experiment with the creation of universal basic income.<\/p>\n
The sum will go to the group Mayors for a Guaranteed Income (MGI), a coalition of leaders from 16 cities who are in favour of universal basic income — regular payments to residents generally meant to fight poverty and meet citizens’ basic needs.<\/p>\n
“This is one tool to close the wealth and income gap, level systemic race and gender inequalities, and create economic security for families,” Dorsey, whose fortune is estimated at $7.3 billion (roughly Rs. 54,866 crores) by Forbes magazine, tweeted Thursday.<\/p>\n
MGI responded that “the entire network is so appreciative of this support. Together, we can make the American economy work for everyone.”<\/p>\n
The group includes mayors from a geographically diverse array of US cities such as Atlanta, Seattle and Los Angeles.<\/p>\n
Dorsey already announced<\/a> in April that he would commit $1 billion of his personal fortune to coronavirus relief through his philanthropic fund.<\/p>\n Once the pandemic ends, he said, the fund would focus on health and education for girls and “universal basic income” efforts.<\/p>\n Universal basic income, a controversial topic in US politics, has been lambasted by many as too costly or too “socialist.”<\/p>\n However, former Democratic presidential candidate Andrew Yang argued for it on the campaign trail, proposing to provide every American age 18 and older with $1,000 a month.<\/p>\n Since Yang’s departure from the race, the virus crisis has created a spike in unemployment, with 18 million people on the jobless rolls through the week ended June 27.<\/p>\n The US could suffer a second wave of layoffs as more states see spiking case counts, and once expanded jobless benefits expire.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n Tags:<\/b> Agence France-Presse<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"\n\n\n\nSee Campaign: <\/strong>https:\/\/gadgets.ndtv.com\/others\/news\/twitter-ceo-jack-dorsey-donates-3-million-to-test-universal-basic-income-2260930#rss-gadgets-all<\/a>
Contact Information:<\/b>
Agence France-Presse<\/p>\n
<\/a>, Wire<\/a>, United States<\/a>, English<\/a><\/p>\n<\/div>\n
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Dorsey already announced in April that he would commit $1 billion of his personal fortune to coronavirus relief through his philanthropic fund. Twitter chief executive Jack Dorsey has said he will donate $3 million (roughly Rs. 22.55 crores) to a group of US mayors to experiment with the creation of universal basic income. The sum … Continue reading Twitter CEO Jack Dorsey Donates $3 Million to Test Universal Basic Income<\/span><\/a> Continue Reading