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Universal Basic Income: Can it be a Solution to Income Inequality and Poverty?
Income inequality and poverty are persistent challenges faced by societies across the globe. As the gap between the rich and the poor widens, it becomes increasingly important to explore potential solutions that can alleviate these issues and promote a more equitable society. One such solution that has gained significant attention in recent years is Universal Basic Income (UBI). This article aims to delve into the concept of UBI, its potential benefits and drawbacks, and its viability as a solution to income inequality and poverty.
Understanding Universal Basic Income
Universal Basic Income is a policy proposal that advocates for providing a regular and unconditional cash transfer to all individuals within a given society, regardless of their income, employment status, or other demographic factors. The core idea behind UBI is to ensure that every person has access to a basic level of income to meet their fundamental needs, such as food, shelter, and healthcare.
Proponents of UBI argue that it has the potential to address various socioeconomic challenges, including income inequality and poverty, in the following ways:
1. Poverty alleviation
