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(US) Introducing Comingle: An opt-in UBI (Universal Basic Income) to provide a stable weekly income based upon users contributing 7% of their income (comingle.us)

submitted 1 year ago* (last edited 1 year ago) by centof@lemm.ee to c/personalfinance@lemmy.ml

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Comingle is an interesting idea that would act as a pseudo emergency fund to provide a stable week to week income for their users. It could act to stabilize your income if you have an irregular income or as an backup plan or insurance for when you lose a job or income source. It works by distributing the average of all their members contributions weekly to each user. Once the service starts, the end result will be a net gain for those with low income and a payment to provide a guaranteed monthly income for higher earners.

For those with low income, any amount of extra money can aid in the pursuit of opportunity and keep things from turning desperate.
For freelancers and gig-workers, reliable weekly income can ease the complications of sporadic cash-flow.
For those with more income, Comingle lets you help others, sends you a little extra cash on slow weeks, and provides a safety-net if things take a turn for the worse.

Disclaimer: I am not affiliated with them. I just got this in an email newsletter and was intrigued.

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[–] jet@hackertalks.com 5 points 1 year ago* (last edited 1 year ago)

They are going to have to gatekeep who can join, to balance out the givers and takers. Otherwise if a flood of takers join first, the givers are never going to join up.

Probably some form of waiting list, with their back account monitoring in place.

11.6% of US is below the poverty line. They said anyone up to 200% above poverty line should never give, and only get a net benefit from this program.

That's ball park 60 million people who have absolutely 100% positive incentives to join, no down side. So any "givers" would get totally drowned out if they ever needed to take a slice of the pie, so they are going to have to come up with some average income goal, segment groups, or give preference to givers, or something.

Not saying it wont work, but the population rush for free money may be hard to manage