Free money: Testing a basic universal income
Even if your job isn't being replaced by a robot, there is plenty of economic insecurity today, with many people just one paycheck away from disaster. To fight economic hardship, the City of Stockton, Calif., is launching a pilot program to test the benefits of a basic universal income (BUI) - giving $500 a month to impoverished residents, no strings attached. Lee Cowan hears from Mayor Michael Tubbs about his effort, funded by the Economic Security Project, and talks with former Labor Secretary Robert Reich and University of California, Berkeley professor Laura Tyson about the costs and benefits of "free" money.