Swiss to vote on ‘unconditional income’ for every adult

Swiss
Photo Credit Bloomberg.com

In a move that will have the progressive left in America drooling, Switzerland will hold a vote on whether to introduce a guaranteed income for all adults — calls of socialism notwithstanding.

Instead of redistribution, think of is as pre-distribution.

A grassroots committee is calling for all adults in the country to receive an unconditional income equal to $2,800 per month from the state in a move to combat growing pay inequality, Reuters reported.

Under Swiss law, according to Reuters, citizens can organize popular initiatives that allow the channeling of public anger into direct political action. The country usually holds several referenda a year.

This latest initiative follows up on the decriminalization of marijuana that went into effect last week, where an adult caught smoking marijuana in Switzerland can escape formal legal proceedings by simply paying a fine.

If the Swiss population of just over 8 million votes in favor of the unconditional income, a married couple could “earn” $67,000 per year and not work, leaving plenty of time to get stoned.

In another step that will reinforce calls of socialism, voters in March backed some of the world’s strictest controls on executive pay, forcing companies to give shareholders a binding vote on compensation, Reuters reported.

A proposal to limit monthly executive pay to no more than what the company’s lowest-paid staff earn in a year will face a popular vote on November 24.

Overall, Switzerland emerged from the recent global economic turmoil relatively unscathed, according to The Heritage Foundation.

The Swiss government has a spending cap, known as the “debt brake,” which has been in force since 2003, and spending is just 34.7 percent of GDP.

The country also has one of the lowest marginal tax rates on working people at 20 percent, compared to 27 percent in the United States, Forbes reported.

Seasonally adjusted unemployment was at 3.2% in August, a low that may not be seen again should Swiss voters lose their minds and approve a guaranteed income.

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