Billionaire Richard Branson: America should give out free cash to fix income inequalityCNBC, Jul 2, 2018, Catherine Clifford
One solution to income inequality is giving out free cash, according to the British billionaire entrepreneur Richard Branson.
“A basic income should be introduced in Europe and in America,†Branson told David Gelles of The New York Times.
Branson was responding to the question, “What do you think those in positions of power should do to address social problems like income inequality?â€
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A universal basic income, as it's known, is a cash payment distributed to residents irrespective of their employment status.
Further, there are other reasons for cash handouts, according to Branson.
“I think with artificial intelligence coming along, there needs to be a basic income,†said Branson.
Gelles asked whether that's because robots will replace human jobs. “Because of job displacement?†Gelles asked.
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https://www.cnbc.com/2018/07/02/virgin-groups-richard-branson-on-universal-basic-income.html