GBI (Guaranteed Basic Income) is a means in which every citizen of Kaldus will receive a basic source of home to help them with the opporunity to pursue their dreams, find better work, or get a better education. GBI is also essential for those that can not work because of a disability. All citizens will receive a deposit of money on the first day of every month. By providing for this timely, and consistent schedule allows for the citizen to budget with what they have. GBI is guaranteed which means every citizen will receive it, even if they don’t need the money. This is obviously paid with higher income taxes for the wealthier people. GBI is issued by HHS, and deposit directly into the bank account based on the citizen’s NIN.
The amount received will be based on poverty for a single person. This money will be ( 85% of poverty + 20% per child ) rounded up to the next $50 increment. Assuming that poverty is $1,300 – this will mean that a single adult will receive $1,150 ($1,105 rounded up). The head of the household will receive $260 per child (rounded up). This will mean that 1 adult + 2 children will receive based on the following formula
$1,105 + $260×2 = $1,625
$1,625 will be rounded up to $1,650.
In addition, the child will receive $300 per month in their account. Until the account is activated, there will be no withdrawals. This is to protect the account as best as possible from bad actors. This will also allow the child to receive cash gifts such as from birthdays, and that money will be added to the pre-active account. Once the child is old enough to receive their GIN, they will receive information to never share their GIN with anyone other than a government official. This will also reduce the chance of bad actors. The child will then receive a GAON to activate their bank account, and get a debit card.