The answer to the coming 'Robot Revolution'? Universal Basic Income! [View all]
With an impending robot revolution expected to leave a trail of unemployment in its wake, some Silicon Valley tech leaders think they have a remedy to a future with fewer jobs — free money for all.
It’s called universal basic income, a radical concept that’s picking up steam as a way to provide all Americans with a minimum level of economic security. The idea is expensive and controversial — it guarantees cash for everyone, regardless of income level or employment status. But prominent tech leaders from Tesla CEO Elon Musk to Sam Altman, president of Mountain View-based startup accelerator Y Combinator, are proponents.
“We should make it so no one is worried about how they’re going to pay for a place to live, no one has to worry about how they’re going to have enough to eat,” Altman said in a recent speech at the Commonwealth Club in San Francisco. “Just give people enough money to have a reasonable quality of life.”
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That means a mother living on the poverty line would get the same amount of free cash as Facebook founder Mark Zuckerberg, Widerquist said. But Zuckerberg’s taxes would go up, canceling out his basic income payment.
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Much more at: http://www.santacruzsentinel.com/article/NE/20170520/NEWS/170529965
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