Facebook founder and CEO Mark Zuckerberg supports an idea called universal basic income.

Facebook founder and CEO Mark Zuckerberg supports an idea called universal basic income.

"We should explore ideas like universal basic income to make sure that everyone has a cushion to try new ideas," Zuckerberg said at his Harvard commencement address Thursday.

So, what exactly is it?It’s a concept that’s getting a lot of attention, especially in Silicon Valley. A country that has universal basic income guarantees every person a set minimum income regardless of criteria — age, wealth, job status, hometown, family size, etc.That means everyone gets a paycheck, whether they have a job or not.However, the countries actually experimenting […]

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Facebook founder and CEO Mark Zuckerberg supports an idea called universal basic income.

We cannot even have this conversation without knowing how much money exactly (per-person/per-year) we’re talking about. And if it’s just universal welfare (for everyone, including the already wealthy) then I don’t know how its supposed to cut welfare costs. As of 2012 52.2 million people (21.3% of the US population) was on government assistance programs . As of 2016 the cost for federal, state, and local was estimated to be around $1,084,000,000,000 . And now you want to multiply that by 5 times as many covered and think that getting rid of those other services are going to cost […]

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