What is a Guaranteed Basic Income?Those below a LIVING income level are the only ones who receive it and it's graduated as you reach the living income level. Everyone is eligible to receive it but only those who qualify by being below the set income rate receive it.
In addition, an experiment was conducted in Canada in one town where people received the GBI for 5 years. This experiment was successful, and there was no indication of any problems of 'laziness and greed.' This is just another reason why this payment should NOT be Universal but rather targeted to those living in poverty and raising their income to a living income with benefits and a tax free status.
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This could be addressed by establishing regulations on how prices are set. Or, it could be addressed by tying increases in the GBI directly to price increases in food, clothing, shelter, and transportation only. Those are the prices that will have the greatest impact on the purchasing power of those receiving the GBI. If increases in those prices are directly reflected in increases to the GBI any damage from greedy corporate gouging can be mitigated in those key areas. Tying increases to COLA or general inflation are useless because those rates are usually much lower than the real inflation experienced by those whose purchasing power is low in the first place. We've seen the result of this already. None of our social services benefits, pensions, etc. have kept up with increases in those critical areas and that's been a huge part of the problem.
It isn't rocket science. Really.