Happy 10th International Basic Income Week! We’re one day late to the game, but we hope that you’ve been celebrating by sharing basic income-related news with all who are interested! In honour of the week, we will post a short piece on basic income every day this week that you can share on your Facebook page or other platforms.
Today, we will recap what Basic Income is, as the concept is often not spelled out clearly and properly.
Basic income is a financial support program which would replace welfare. The government would pay each person a sufficient amount of money on a regular basis to ensure that no one’s income dropped below the level needed to provide for basic needs. The idea is to provide and income floor for everyone. Basic income has many positive benefits including eliminating poverty, enhancing income security for all, enabling entrepreneurship, stimulating the domestic economy, increasing participation in the community and fulfilling Canada’s obligations under the Universal Declaration of Human Rights. Other names for basic income guarantee (BIG) include guaranteed annual income, universal basic income, guaranteed livable income and citizens’ dividend. For information on basic income news from all over the world, see BIEN (Basic Income Earth Network) http://basicincome.org/.
[Adapted from Basic Income Waterloo region newsletter]