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Simple English definitions for legal terms
ubi
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A quick definition of ubi:
Term: UBI
Definition: UBI stands for "Universal Basic Income." It means that everyone in a country gets a certain amount of money from the government, no matter what. It's like a regular allowance that you get just for being alive. The idea is to make sure that everyone has enough money to live on, even if they don't have a job or other sources of income.
A more thorough explanation:
UBI
UBI stands for Universal Basic Income. It is a government program that provides a fixed amount of money to every citizen, regardless of their income or employment status.
- Alaska's Permanent Fund Dividend is an example of UBI. Every year, each Alaskan resident receives a share of the state's oil revenue.
- In 2019, Democratic presidential candidate Andrew Yang proposed a UBI of $1,000 per month for every American adult.
These examples illustrate how UBI provides a basic level of financial security to all citizens, regardless of their circumstances. It is meant to alleviate poverty and reduce income inequality.