JOHN STOSSEL: The Cost Of Free Money
Some politicians and activists are eager to give you “free” money. They call it universal basic income (UBI) — cash for everyone, no strings attached. Comedian Dave Chappelle thinks UBI would “save my community almost…
Opinion · 1 source · Jul 1, 2026Read itThe journal
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About universal basic income
Universal basic income (UBI) is a social welfare proposal in which all members of a given population regularly receive a minimum income in the form of an unconditional transfer payment, i.e., without a means test or need to perform work. In contrast, a guaranteed minimum income (GMI) is paid only to those who do not already receive an income that is enough to live on. A UBI would be received independently of any other income. If the level is sufficient to meet a person's basic needs, it is considered a full basic income; if it is less than that amount, it is called a partial basic income. As of 2026, no country has implemented a full UBI system, but two countries—Mongolia and Iran—have or had a partial UBI, Mongolia from 2010 to 2012, and Iran still to this day. There have been numerous pilot projects, and the idea is discussed in many countries. Some have labelled UBI as utopian due to its historical origin.
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