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What is UBI

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The Universal Basic Income (UBI), also called unconditional basic income, basic income, citizen’s income, citizen’s basic income, basic income guarantee, basic salary for life, guaranteed annual income, security program universal income tax, or universal demogrant, is a notional public program for a periodic payment delivered to all citizens of a given population without a means test or job requirement. [2] A basic income can be implemented at the national, regional or local level. If the level is sufficient to meet a person’s basic needs (that is, at or above the poverty line) it is sometimes called a full basic income; if it is less than that amount, it may be called a partial basic income.

There are several welfare arrangements that can be seen as related to basic income in one way or another. Many countries have something like a basic income for children, for example. And the pension system in many cases also includes a part similar to the basic income. There are also basic income systems, such as Bolsa Familia in Brazil, which has been described as a kind of basic income, but is focused on the poor and includes some conditions. The Alaska Permanent Fund is, in essence, a partial basic income, with an average annual payment of $1,600 per resident (adjusted to 2019 dollars), though the amount varies widely from year to year. [3] Negative income tax is also strongly correlated with basic income.

Several policy discussions are related to the basic income debate, including those surrounding automation, artificial intelligence (AI), and the future of work. A key question in these debates is whether automation and artificial intelligence will significantly reduce the number of jobs available and whether a basic income could help alleviate those problems, as well as whether a UBI could be a stepping stone for a resource-based economy or after scarcity.