Basic IncomeBasic Income
BonusBonus
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Exempt vs. Non-Exempt StatusExempt vs. Non-Exempt Status
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Gross PayGross Pay
Incentive PayIncentive Pay
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Merit IncreaseMerit Increase
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Basic Income

Definition

A proposed system where everyone regularly receives a set amount of money from the government, regardless of employment status.

What to consider

  • Think about how a guaranteed income might change your monthly budgeting.
  • Consider its potential impact on your work-life balance.
  • Reflect on how it could shift your overall financial stability.

Real world scenarios

  • Jon joins a pilot program offering basic income to local residents, easing worries about monthly bills while he retrains for a new job.
  • Helen debates whether universal basic income would encourage entrepreneurship or reduce work incentives in her community.
  • A study shows families on a basic income spend more on essential goods, boosting local economies in underserved neighborhoods.

Related terms

Exempt vs. Non-Exempt Status
Salary Slip
Side Hustle
Profit Sharing
Gross Income

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