The “Rise Up Cambridge: Money Payments for Families with Kids” will provide low-income households with a monthly check for $500 to check guaranteed basic income. Those eligible are families with children who earn under 250% of the federal poverty level ($75K for a family of 4). The 18-month program won’t be based on a lottery like other guaranteed basic income rollouts, and anyone eligible may apply. Town has allotted $22 million for the initiative and expects around 2,000 families to use.
The cash to fund this system will primarily come from the American Rescue Plan, distributing our Federal tax dollars to others, and a few independent donors will pitch in too. This program is barely eligible for individuals with children under 21 and won’t make a noticeable dent within the homeless population, nor will it help the elderly who live alone. That said, families with children already receive essentially the most in Federal funds and in the event that they’re living in high-cost Cambridge, chances are high they’re receiving income elsewhere. The price of living in Cambridge is 73% higher than the national average. The median rental price is around $4,277 monthly, and the median home price is over $1.4 million.
“We wish to stabilize as many households as possible and ensure that they’ve a likelihood to proceed to remain in our city that, you realize, isn’t easy to remain in,” Cambridge Mayor Sumbul Siddiqui stated. A $500 payment in a high-cost city won’t ever financially stabilize families. As a substitute, it’s going to increase inflation and bypasses the center class. Unlike traditional welfare programs, those eligible will receive direct deposit payments that they could spend as they see fit.
The American Rescue plan was not marketed as a guaranteed basic income initiative. Siddiqui is buying votes with Federal funds. Town is pricing out the center class by providing handouts to those that cannot afford to live in an expensive city. Free money becomes like a drug and the people grow to be hooked on receiving that monthly direct deposit. But, as with all drug, they are going to grow to be dependent and can need increasingly as the fee of living increases. This can only incentivize people to not work and vote for politicians who promise handouts on the expense of responsible taxpayers.
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