Universal Basic Income (UBI) is defined as a policy proposal where every individual receives a regular, unconditional sum of money from the government, regardless of their employment status or income level.
Here are the key characteristics of UBI:
• Universal: It is provided to all citizens of a given population.
• Basic: The amount is intended to be a minimum income. It can be a full basic income if sufficient to meet basic needs (at or above the poverty line), or a partial basic income if less than that amount.
• Unconditional: Payments are made without a means test or the need to perform work. It is received independently of any other income. This differentiates it from programs like a guaranteed minimum income, which is paid only to those who don't already earn enough to live on.
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