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On May 08, 2012 12:56AM ET in Green 101
As our interconnected economies continue to flounder across the globe, the concept of Basic Income, a guaranteed income for all people, is becoming increasingly popular. Guaranteeing a minimal income helps all humans to meet their most simple material needs like housing, food, clothing, the universal requirements that we all need to survive.
The rich and the poor would receive the same guaranteed grant — all citizens are treated equally. Basic Income also allows each individual to choose where they invest their hard work and energy, spurring entrepreneurship and more sustainable local economies.
In an attempt to reverse rampant extreme poverty and severe economic inequities, implementing Basic Income was the key conclusion drawn from the 11th North American Basic Income Congress, which was just held in Toronto, Canada this month. Social Justice Ireland offered this insight into the conference, and also explained how Basic Income works:
Speakers from across the political spectrum and representing a wide range of perspectives on social, economic and environmental policy supported this viewpoint and discussed a broad range of possible initiatives that would achieve this outcome.
Basic Income was proposed as part of a comprehensive, sustainable solution proposed by many speakers among the 46 papers presented by experts from North America, Europe and Asia. A Basic Income is an income unconditionally granted to all on an individual basis, without means test or work requirement. It is a form of minimum income guarantee that differs from those that now exist in various European countries in three important ways:
• It is being paid to individuals rather than households
• It is paid irrespective of any income from other sources
• It is paid without requiring the performance of any work or the willingness to accept a job if offered
Basic Income is an unconditional guarantee that all citizens have enough income to meet their basic human needs. If you would like to learn more about Basic income, please visit the Basic Income Earth Network website: basicincome.org
images are via Basic Income