Citizens Dividend Glossary
|January 9, 2007||Posted by Staff under Progress Report, The Progress Report|
Glossary of Citizens Dividend-Related Terms
citizen’s dividend — the key proposal being offered on this web site. This is a guaranteed income idea that gives clear answers to the three key variables: who should receive it, how much should they receive, and how should the program be funded. See Jeffery Smith’s proposal for an explanation.
guaranteed income — we use this term as a general name for any of the proposals discussed here. This is a good general term because it does not assume anything about the size of income, the source of the income, or who will receive the income.
means-testing — is a process where someone, usually a government bureacracy, evaluates your wealth and income to decide whether you are eligible to participate in some program. Proposals for a guaranteed income that would not be universal are likely to include some kind of means-testing to choose who gets the income.
negative income tax — this simply means that below some point of income, instead of you paying taxes to the government, the government pays you. For example, let’s say that if your income is above $3000 you must pay taxes. If there is a negative income tax policy in place, and your income was only $2400, then you would receive $600. Some people believe the term “negative income tax” has a conservative connotation.
universal basic income — as we understand it, a UNIVERSAL income means that everyone, regardless of wealth, would receive the same; and a BASIC income would be one that is sufficient for a minimal subsistence.
Please suggest more terms we should include to make this glossary even more helpful
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