Universal basic income, also called unconditional basic income, citizen's basic income, basic income guarantee, basic living stipend, guaranteed annual income, universal income security program or ...

What is meant by universal basic income?

Universal basic income (UBI) is a government program in which every adult citizen receives a set amount of money regularly. The goals of a basic income system are to alleviate poverty and replace other need-based social programs that potentially require greater bureaucratic involvement.

How does a universal basic income work?

Universal basic income (UBI) means that everyone in a society — rich or poor — gets a monthly cheque for the same amount. At the end of the year, the government uses the tax system to balance out the scales and recoup that extra cash from the higher income earners who didn't end up needing it.