Article

2017-09-19 Government

Biden rejects Silicon Valley calls for universal basic income, ‘no strings attached' cash

[Wash Times] Former Vice President Joe Biden says tech titans like Facebook’s Mark Zuckerberg and Tesla CEO Elon Musk are fundamentally misunderstanding the importance of work by calling for a "universal basic income."

A blog posted published by the University of Delaware’s Biden Institute on Monday unveiled a "worker first" initiative that rejects "no strings attached" policies prompted by influential billionaires while also fueling speculation about a possible 2020 U.S. presidential run by the former vice president.

"Economic transformations due to rapid advances in technology have created not only significant anxiety but also a legitimate debate about whether there will be sufficient jobs to sustain a vibrant middle class," Mr. Biden’s piece began.

"Some argue that these changes won’t lead to significant net job loss, so we need not worry. Others argue the risks are so great we should close up our borders to minimize the damage. One idea that has gained prominence, particularly among leaders in Silicon Valley, is universal basic income. The theory is that automation will result in so many lost jobs that the only plausible answer is some type of guaranteed government check with no strings attached."

Former President Obama’s right-hand man in the White House continued by saying that work is a virtue that brings with it an intrinsic value going beyond a paycheck.

Posted by Besoeker 2017-09-19 01:47|| || Front Page|| [18 views ] Top

#1 Joe Biden's opinion is of absolutely no consequence. He is simply the trial balloon handler. The so-called 'Universal Basic Income' (UBI) is the pathway to elimination of Social Security.

While it's not being discussed, in the end you can bet your arse UBI will be.... NEEDS BASED !

Posted by Besoeker 2017-09-19 01:54|| 2017-09-19 01:54|| Front Page Top

#2 ...money for nothin' and your chicks for free...

Posted by M. Murcek 2017-09-19 10:04|| 2017-09-19 10:04|| Front Page Top

#3 Mack Reynolds to the white courtesy phone.

Posted by g(r)omgoru 2017-09-19 10:38|| 2017-09-19 10:38|| Front Page Top

#4 I'm not sure what the answer is (work is sort of vital to self-esteem) but at some point a large number of jobs will be replaced by robotics. What does society do at that point? Are we all confident that enough new jobs will appear as jobs are taken over by robots?

Posted by rjschwarz 2017-09-19 11:45|| 2017-09-19 11:45|| Front Page Top

#5 There will always be an adjustment period, but the market will adapt.

There was a huge disruption of local economies with the industrial revolution, but people adapted and moved where new jobs were.

Robots will take over menial jobs and people and the market will adapt.

Posted by DarthVader 2017-09-19 12:08|| 2017-09-19 12:08|| Front Page Top

#6 Biden likes strings. He assumes he will be the one holding them.

Posted by Iblis 2017-09-19 15:57|| 2017-09-19 15:57|| Front Page Top

#7 Biden likes strings. He assumes he will be the one holding them.

OK. Registered citizens only.

Posted by Skidmark 2017-09-19 16:39|| 2017-09-19 16:39|| Front Page Top

#8 I dislike the idea, but not for the reasons I suspect Biden doesn't like the idea. I don't think the silicon valley technogarches who have floated the idea are serious about it. They want to have _just enough_ of it to where people can still afford to buy their products but the technogarches still aspire to a society where they get to be Big Swinging [redacted] but the rest of us don't, especially if we work in sinful industries like real energy.

Posted by Thing From Snowy Mountain 2017-09-19 18:06|| 2017-09-19 18:06|| Front Page Top

#9 In order to afford a "Universal Basic Income", there will also be a "[Nearly]Universal Maximum Income". Only those in favor with the government will be able to make more than, say, 50% over the UBI.

But if you have a senator in your pocket, you'll be ROLLING in cash!

Posted by Rob Crawford 2017-09-19 19:12|| 2017-09-19 19:12|| Front Page Top

#10 Nice pitch to the unthinking unwashed but simply devaluing currency.

Posted by Skidmark 2017-09-19 19:38|| 2017-09-19 19:38|| Front Page Top

#11 Will Silicon Valley fund it in total? I thought not. Fuck them

Posted by Frank G 2017-09-19 20:08|| 2017-09-19 20:08|| Front Page Top

01:12 Besoeker
00:38 Besoeker
00:33 Angealing+B.+Hayes4677
00:16 EMS Artifact
00:15 Raj