Handout Or No? Swiss Mull $2,500 Monthly Income For All
GENEVA (AP) -- Would you accept about $2,500 from your government every month, no questions asked?
Swiss voters get a choice Sunday in a referendum that, while not specifying a figure, asks if they want "unconditional basic income." Experts estimate a minimum of 2,500 Swiss francs ($2,560) per month is needed for an individual to make ends meet in wealthy Switzerland, where private-sector health insurance is required and the cost of living is sky-high.
Critics warn that the policy would explode the state budget. The Swiss government itself advises voters to reject the proposal, and polls suggest it will fail in a country known for free-market policies and a high-tech, capitalistic financial sector.
Proponents, however, insist the time has come for a minimum monthly wage as sweeping 21st-century economic changes like robots displacing factory workers make jobs more precarious in the digital age. They say they're seeking momentum more than outright victory.
Polls have suggested that only about one-quarter of Swiss voters back the idea.
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