What is a guaranteed minimum income?

There are two main senses in which the term “guaranteed minimum income” can be used. The primary definition of the concept concerns social construct or theory that requires all citizens of the nation to be given income or services that allow the basic existence of survival. A guaranteed minimum income is also an income model used in some professions to determine the minimum that will be paid and at the same time allow bonuses, tips or commissions.

In social theory, the concept of a guaranteed minimum income concerns the belief that the government must seek to survive all citizens. The means to obtain food, clothing, shelter and other basic needs are considered by some social philosophers as part of the social contract between the government and its citizens. While citizens are able to generally be intended to obtain these needs through work, a guaranteed minimum income should help to cover citizens who are unable to make regular work such as older or disabled.

A guaranteed minimum income is often created through laws and social programs. For example, student loans allow people without funds to borrow enough money to get education. Determination of the minimum wage protects the income of working people and ensures that they are fairly paid for their work. Health insurance plans and pensions for seniors that guarantee that seniors are not lost after retirement.

While a guaranteed minimum income may be a noble idea, it tends to be difficult to put into practical use. The costs of programs needed to ensure life wages for all citizens often require tax storage and the expansion of the government mandate that some citizens consider inappropriate. Some versions of theory require that qualifying participants perform some community service or volunteer work will pay the costs of their wages as well as depression workersIn administration for progress in work, they were paid for restoring or improving community infrastructure.

In terms of income models, a guaranteed minimum income is often used to attract new or basic workers for a specific job. The minimum income is often used in sales jobs and services, is the basic salary for a worker that can be expanded with high performance. For example, a telemarketer may have a $ 11 hourly wage in USD (USD) per hour, but to get a bonus for each sale. This model allows workers to be assured that they will be paid for their work for their work, and at the same time will provide incentives for a high level.