What is a Universal Basic Income (UBI)?
While it does not yet exist as a practical reality in the United States, the concept of a universal basic income – or UBI – is similar to the concept of minimum wage . Each individual receives an agreed-upon minimum income (basic income) with the intent that the income allows a person to afford the basic cost of living while maintaining some semblance of financial security or independence. The key difference (besides the fact that UBI is theoretical) is the fact that the government would pay each individual a universal basic income […]
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