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:
“The basic Female body comes with the following accessories: garter belt, panti-girdle, crinoline, camisole, bustle, brassiere, stomacher, chemise, virgin zone, spike heels, nose ring, veil, kid gloves, fishnet stockings, fichu, bandeau, Merry Widow, weepers, chokers, barrettes, bangles, beads, lorgnette, feather boa, basic black, compact, Lycra stretch one-piece with modesty panel, designer peignoir, flannel nightie, lace teddy, bed, head.”
—Margaret Atwood (b. 1939)
“The question for the country now is how to secure a more equal distribution of property among the people. There can be no republican institutions with vast masses of property permanently in a few hands, and large masses of voters without property.... Let no man get by inheritance, or by will, more than will produce at four per cent interest an income ... of fifteen thousand dollars] per year, or an estate of five hundred thousand dollars.”
—Rutherford Birchard Hayes (1822–1893)