basic income

Meanings

1. Ellipsis of universal basic income, a form of social security in which all citizens or residents of a jurisdiction receive a sum of money, regularly and unconditionally.
2. Ellipsis of guaranteed basic income, a form of social security in which all citizens or residents of a jurisdiction are guaranteed to have an income level at or above the set basic income cut-off level, whereby the government will top-off incomes falling below the line, to reach the limit; those falling above the line would not receive payments.