A universal basic income (UBI) is a fixed amount, at a level sufficient for substance, given by the state to all its citizens regardless of income or work status. Most basic income proposals suggest that purchasing power be distributed at scheduled intervals – a week, a month, or even a year. However, proposals do exist that suggest money be given in a lump sum, perhaps when individuals turn 18.

Due to the inherent scale of a universal income, funding would likely come from a variety of sources. Carbon taxes, income taxes, VAT, negative interest rates, earnings from investments, decreases in military spending, sovereign wealth funds, and resource-based revenues are all being explored.

 

 

Reference: Futurism