Money for Universal Basic Income

Residents of California city once known as 'America's foreclosure capital' are set to get monthly $500 stipend, with NO strings attached, in bid to boost local economy and make things better. 

• The Universal Basic Income program will be tested in impoverished Stockton, California with some heavy backing from nearby wealthy Silicon Valley  
• A $500-a-month stipend will be given to 100 residents for 18-months 
• The money comes with no strings attached with the program aiming to see how raising the income floor will change people's financial situation 
• The money can be used for anything with the idea that with some financial empowerment people will be able to start new ventures, afford food, pay bills
• The idea of the test is to see if the financial help will up school attendance and health and possibly contribute to female empowerment 
• The Stockton test will be funded in part by Facebook's co-founder Chris Hughes whose  organization, the Economic Security Project, contributed $1million 

Homeowners are sitting on a record amount of cash — and not tapping it. This money can now be used for Universal Basic Income. 

• Homeowners now have a collective $5.8 trillion in tappable equity, the highest volume ever recorded.
• The average homeowner with a mortgage gained $14,700 in tappable equity over the past year and has $113,900 available to draw.
• That's enough money to pay a basic income of $500 per month to every below-poverty minority in the US for a three year period. 
• Participation in this program is voluntary at this juncture but will become mandatory in 2021.