{"insight":{"id":"116254512","lede":"\"Guaranteed income programs are universal rather than targeted; they are not conditioned on unemployment, training or other activities; and they utilize a “pay now, tax later” approach rather than employing upfront means-testing.\"","slug":"ubi-is-a-pay-now-tax-later-approach-nit-uses-means-testing-to-tax-first-pay-after","title":"UBI is a 'pay now, tax later' approach. NIT uses means-testing to 'tax first, pay after'.","showTitleAsQuote":false,"epistemicStatus":"practical","reports":[{"id":"19519421","title":"Basic Income","slug":"basic-income"}],"tags":[{"slug":"policy-design-details","name":"Policy Design Details","id":"100414960","lede":"

The details of a policy can fundamentally transform its effects. For example, a basic income that replaces all other welfare appeals greatly to conservatives and libertarians, while one that supplements the existing welfare state appeals to progressives.

\n\n

To evaluate any policy in full, we must know the details of its implementation.

\n","ledeExcerpt":"The details of a policy can fundamentally transform its effects. For example, a basic income that replaces all other welfare appeals greatly to conservatives and libertarians, while one that supplements the existing welfare state appeals to progressives.\n\nTo evaluate any policy in full, we must know the details of its implementation.","featured":true},{"slug":"implementation","name":"Implementation","id":"69609492","lede":"","ledeExcerpt":"","featured":true},{"slug":"ubi","name":"Universal Basic Income (UBI)","id":"19519447","lede":"

Universal Basic Income is an unconditional, individual, periodic, cash payment granted to all citizens regardless of income or employment status.

\n","ledeExcerpt":"Universal Basic Income is an unconditional, individual, periodic, cash payment granted to all citizens regardless of income or employment status.","featured":null},{"slug":"negative-income-tax","name":"Negative Income Tax (NIT)","id":"23932842","lede":"

Negative Income Tax (NIT) is a form of basic income that phases out as recipient earned income rises. NIT is composed of an "income floor" and a "phaseout rate". The income floor is the amount of cash a recipient with $0 of earned income receives. The phaseout rate is how much the cash benefit is decreased per additional dollar of earned income.

\n\n

For example, consider an NIT with an income floor of $13,000 and a phaseout rate of 50%. A citizen with no income would receive $13,000 per year, often broken up into monthly payments. If the citizen gets a part-time job and begins earning $20,000 per year, they would still receive $3,000 per year in NIT benefits.

\n","ledeExcerpt":"Negative Income Tax (NIT) is a form of basic income that phases out as recipient earned income rises. NIT is composed of an \"income floor\" and a \"phaseout rate\". The income floor is the amount of cash a recipient with $0 of earned income receives. The phaseout rate is how much the cash benefit is decreased per additional dollar of earned income.\n\nFor example, consider an NIT with an income floor of $13,000 and a phaseout rate of 50%. A citizen with no income would receive $13,000 per year, often broken up into monthly payments. If the citizen gets a part-time job and begins earning $20,000 per year, they would still receive $3,000 per year in NIT benefits.","featured":null}],"sources":[{"id":"101097114","lede":"Jain Family Institute's second installation in a four-part series in 'reweaving the safety net', with an eye towards program design for basic income. Here, they focus on the relationship between basic income and other welfare programs. They find that basic income works well when markets work well, but is a poor substitute for public insurance provision.","link":"https://www.jainfamilyinstitute.org/assets/reweaving-the-safety-net-12.15.20.pdf","slug":"reweaving-the-safety-net-the-best-fit-for-guaranteed-income","kind":"Report","title":"Reweaving the Safety Net: The Best Fit For Guaranteed Income","year":"2020-01-01","researchers":[{"id":"101079025","location":"Research Lead, Jain Family Institute","name":"Sidhya Balakrishnan","seoDescription":"","slug":"sidhya-balakrishnan"},{"id":"101079026","location":"","name":"Michael Lewis","seoDescription":"","slug":"michael-lewis"},{"id":"101079028","location":"Jain Family Institute","name":"Stephen Nuñez","seoDescription":"","slug":"stephen-nunez"}]}]}}