I'm a former JP Morgan exec who now works to distribute basic income payments to those in need. Here's why I do it.

Tech Insider : Economy
Wole Coaxum.
Wole Coaxum.

Courtesy of MoCaFi.

Some people are being given thousands of dollars with no strings attached in universal basic income trials. They mostly spend the cash wisely.

Tech Insider
money
A universal basic income is paid to all, regardless of wealth or employment status.

Boonchai Wedmakawand/Getty Images

Republican leaders are worried that basic income programs will give Democrats an edge during the election

Tech Insider : Economy, Politics
Republicans worry that basic income programs grant an edge to their Democratic supporters.
Republicans worry that basic income programs grant an edge to their Democratic supporters.

Jonathan Kitchen/Getty

Oregon is giving homeless young people $1,000 a month to get back on their feet. Here's how it's going.

Tech Insider : Economy, Economy
An outreach supervisor with the 4D Recovery Center, speaks to a person in a tent about services for those experiencing homelessness and treatment for fentanyl addiction in Portland, Oregon.
An outreach supervisor speaks to a person in a tent in Portland, Oregon.

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St. Louis is giving some families $500 a month. So far, it's helped them pay off debt and their bills, the city says.

Tech Insider : Economy
St Louis, Missouri

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Texas state lawmaker criticizes 'universal basic income' programs: 'We can't just hand out money like popcorn on street corners'

Tech Insider : Politics, Politics
State Sen. Paul Bettencourt, R-Houston, speaks during debate in the Senate Chamber in Austin, Texas.
State Sen. Paul Bettencourt during a debate in the Senate Chamber in Austin.

Associated Press

Minneapolis is giving people $500 a month and recipients say the no-strings-attached cash is helping them fight soaring housing costs

Tech Insider : Economy, Politics
Volunteers in Minneapolis load donations for unhoused residents onto trucks in December 2019.
Volunteers in Minneapolis load donations for unhoused residents onto trucks in December 2019.

Mark Vancleave/Getty Images

Austin experimented with giving people $1,000 a month. They spent the no-strings-attached cash mostly on housing, a study found.

Tech Insider : Economy, Politics, Economy
A street filled with cars in Austin, Texas.
Austin, Texas.

Evan Semones

Denver's Basic Income Project has been so successful it's getting more funding and an extension

Tech Insider : Economy, Economy
Encampment along North Logan street and E. Eighth ave in Denver, Colorado.
Denver's Basic Income Project aims to alleviate poverty and homelessness in the city by giving a monthly basic income.

Getty Images

People are using cash transfers like basic income to pay rent, and it shows just how badly a housing-crisis solution is needed

Tech Insider : Economy
An 'Apartments for Rent' sign hangs in front of a building on December 06, 2022 in Miami Beach, Florida.
An 'Apartments for Rent' sign hangs in front of a building on December 06, 2022 in Miami Beach, Florida.

Joe Raedle/Getty Images

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