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Universal basic income (UBI) [note 1] is a social welfare proposal in which all citizens of a given population regularly receive a minimum income in the form of an unconditional transfer payment, i.e., without a means test or need to perform work.
Universal basic income and negative income tax, which is a related system, has been debated in the United States since the 1960s, and to a smaller extent also before that. During the 1960s and 1970s a number of experiments with negative income tax were conducted in United States and Canada .
Universal Basic Income is a periodic receival of cash given to individuals on universal and unconditional basis. Unlike other programs like the Food Stamp Program, UBI provides eligible recipients with cash instead of coupons. Instead of households, it is paid to all individuals without requiring means test and regardless of employment status. [21]
The top researcher for a major study on guaranteed basic income says the findings are "nuanced." The study, backed by Sam Altman, gave $1,000 a month to 1,000 low-income participants.
The most often noted outcome of the second wave of basic income support in the United States has been the four basic income experiments (see below) conducted by the U.S. government at the time but arguably expansions of Food Stamps and the Earned Income Tax Credit and creation of the Alaska Dividend (see below) were all outcomes of the debate.
She ran Altman's pilot program and now oversees the full universal basic income study. For three years, the study provided 3,000 participants with either $1,000 per month or $50 a month.
Universal basic income pilots are smaller-scale preliminary experiments which are carried out on selected members of the relevant population to assess the feasibility, costs and effects of the full-scale implementation of universal basic income (UBI), or the related concept of negative income tax (NIT), including partial universal basic income and similar programs.
Universal basic income is: Universal: It’s paid to everyone, as opposed to a targeted population. Unconditional: It doesn’t come with work requirements or other stipulations.