Which of the following statements is incorrect regarding Universal Basic Income (UBI)?
1
UBI is an unconditional, periodic payment made to all citizens, irrespective of their income level.
2
It aims to reduce poverty and income inequality by ensuring a minimum level of income for all citizens.
3
UBI can be funded through a combination of taxes, not just direct taxes.
4
UBI completely eliminates the need for a working population by providing a guaranteed income for life.