A basic income can be divided into two groups: a Guaranteed Minimum Income, otherwise known as a negative income tax, or a Universal Basic Income. A GMI would ensure that there is a base floor on wages. So, for instance, let’s say we have a floor of 12k. This means that no one can make less than 12k. If they do, they receive money until their income reaches 12k. A Universal Basic Income means that everyone, no matter their income, receives 12k.
More and more economists are embracing a basic income. Many conservatives, libertarians, and liberals have expressed their support […]
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