Basic Income
A basic income is granted independent of other income (including salaries) and wealth, with no other requirement than citizenship. This is a special case of GMI, based on additional ideologies and/or goals. While most modern countries have some form of guaranteed minimum income, a basic income is rare.
A basic income is a proposed system of social security, that periodically provides each citizen with a sum of money that is sufficient to live on. Except for citizenship, a basic income is entirely unconditional. There is no means test; the richest as well as the poorest citizens would receive it.
A basic income is often proposed in the form of a citizen's dividend (a transfer) or a negative income tax (a guarantee). A basic income less than the social minimum is referred to as a partial basic income. A worldwide basic income, typically including income redistribution between nations, is known as a global basic income.
Read more about this topic: Guaranteed Minimum Income
Famous quotes containing the words basic and/or income:
“It is easier to move rivers and mountains than to change a person’s basic nature.”
—Chinese proverb.
“Work though we must, our jobs do not automatically determine our priorities concerning our marriages, our children, our social life, or even our health. It’s still life, constrained as it may be by limited disposable income or leisure time, and we’re still responsible for making it something we enjoy or endure.”
—Melinda M. Marshall (20th century)