Free Money: Mark Zuckerberg Says All Americans Should Get A 'Universal Basic Income'

Tyler Durden's picture

Authored by Michael Snyder via The Economic Collapse blog,

Should everyone in America receive a “basic income” directly from the federal government?  Considering the fact that we are already 20 trillion dollars in debt, such a concept may sound quite foolish to many of you, but this is an idea that is really starting to gain traction in leftist circles.  In fact, Facebook CEO Mark Zuckerberg suggested that this was something that we should “explore” during the commencement speech that he just delivered at Harvard.  For quite a while it has been obvious that Zuckerberg is very strongly considering a run for the presidency in 2020, but up until just recently we haven’t had many clues about where he would stand on particular issues.  If he is serious about proposing a universal basic income for all Americans, that would make Zuckerberg very appealing to the far left voters that flocked to the Bernie Sanders campaign.

Yesterday, I discussed the fact that the number of Americans that are receiving money from the government each month has reached an all-time high, but Zuckerberg would take things much farther.  According to Zuckerberg, society would be far better off if everyone got an income from the government

“Every generation expands its definition of equality. Now it’s time for our generation to define a new social contract,” Zuckerberg said during his speech. “We should have a society that measures progress not by economic metrics like GDP but by how many of us have a role we find meaningful. We should explore ideas like universal basic income to make sure everyone has a cushion to try new ideas.”

 

Zuckerberg said that, because he knew he had a safety net if projects like Facebook had failed, he was confident enough to continue on without fear of failing. Others, he said, such as children who need to support households instead of poking away on computers learning how to code, don’t have the foundation Zuckerberg had. Universal basic income would provide that sort of cushion, Zuckerberg argued.

Such a proposal is going to look really good to a lot of people at first glance.

But who is going to pay for this?

Of course the truth is that the money for the people that are not working would come from taxing the people that are working.

I don’t think that Zuckerberg has really thought this through.  Are young people going to have an incentive to work if they can just stay home and watch movies and play video games all day while collecting their “universal basic incomes” from the government?

And why would anyone want to bust their rear ends working for a living when their incomes are just going to be taxed extremely heavily to pay for all the people that aren’t working?

We are already 20 trillion dollars in debt, but politicians on the left just want to keep giving even more free stuff to people.  During his presidential campaign, Bernie Sanders suggested that everyone in America “deserves a minimum standard of living” and that every citizen is “entitled” to universal health care, free college education and basic housing…

So long as you have Republicans in control of the House and the Senate, and so long as you have a Congress dominated by big money, I can guarantee you that the discussion about universal basic income is going to go nowhere in a hurry. But, if we can develop a strong grassroots movement which says that every man, woman and child in this country is entitled to a minimum standard of living?—?is entitled to health care, is entitled to education, is entitled to housing?—?then we can succeed. We are living in the richest country in the history of the world, yet we have the highest rate of childhood poverty of almost any major country and millions of people are struggling to put food on the table. It is my absolute conviction that everyone in this country deserves a minimum standard of living and we’ve got to go forward in the fight to make that happen.

In previous generations, very few people would have ever taken someone like Bernie Sanders seriously.

But in our day and time socialism is really starting to catch on.  In fact, one survey found “that four out of every ten adults say they prefer socialism to capitalism”

The American Culture and Faith Institute recently conducted a survey of adults 18 and older. It shows not only how deeply divided Americans are on some issues but also how their view of the nation stands in many cases in stark contrast to our nation’s founding principles. Most Americans (58 percent) see themselves as politically moderate, while a quarter identify as conservative, and 17 percent as liberal. Those who were both socially and fiscally conservative, the group tracked by the ACFI in greatest detail, were 6 percent of the population.

 

But those differences don’t reveal the greatest divide and danger to America’s future. “The most alarming result, according to [George] Barna, was that four out of every ten adults say they prefer socialism to capitalism,” the ACFI noted in its commentary on the poll. “That is a large minority,” Barna said, “and it includes a majority of the liberals — who will be pushing for a completely different economic model to dominate our nation. That is the stuff of civil wars. It ought to set off alarm bells among more traditionally-oriented leaders across the nation.’” That 40 percent of Americans now prefer socialism to capitalism could spell major change to the policies advanced by legislators and political leaders and to the interpretations of judges ruling on the application of new and pre-existing laws.

And as I noted yesterday, Millennials are particularly attracted to socialism.  This could have dramatic implications for our society as older generations of Americans slowly die off.

Unfortunately, there is just one huge problem with socialism.

It doesn’t work.

If you want to see the end result of socialism, just move to Venezuela or North Korea for a while.

In socialist nations, there is very little incentive to work hard.  Instead, people tend to become very lazy and expect the government to provide everything that they need.

When people work hard and are productive, the overall wealth of a society goes up.  And when people sit around and wait for someone else to provide for them, the overall wealth of a society goes down.

Would Mark Zuckerberg have worked so hard to develop Facebook if he knew that the government would just come in and take most of the money away so that others could have a “universal basic income”?

Yes, we want to do all that we can to reduce poverty and to build a strong, vibrant middle class.

But socialism is not the answer and it never will be.

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Tugg McFancy's picture

Wasn't this Milton Friedman's idea?

Rich Stoehner's picture

There is no such thing as free lunch they said....

saudade's picture

If every monkey that jumps on a ship and travels to Europe has automatically got a right to a house and a lifetime of government sponsorship paid by the natives, then I am starting to think this may actually be a good idea. Fuck you and your pseudo "no free lunch" dogma.

Pinto Currency's picture

Next come the Bolsheviks.
Good times for all with these collectivists.
What's a couple of hundred million dead people.

JackT's picture

What's the problem? Those with means will just be required to mine FB Coins with unused processor cycles. The proceeds will be collected into a community wallet for all to use.

Schlump's picture

This is not good for my people, the rich. So no, you cannot have universal incomes. Sad, but true.

Poor people need to stay poor. How else can I get a big tax break? Losers stay losers, the rich get richer. Bigly.

"The beauty of me is that I’m very rich." (actual Trump quote)

"The point is, you can never be too greedy." (actual Trump quote)

Croesus's picture

Zuckerkike is just pandering for his upcoming buyout of the US Presidency in 2020. Wake me up when people have their pitchforks in hand.

Nice Try Lao Che's picture

Here's an idea: ZuckerFucker can sell all of his Facebook shares and set up a fund to start distributing the wealth. Put his money where his forked tongue mouth is.

NoPension's picture

Just a little douchebag that lucked out.

mtl4's picture

If he loves socialism so much maybe it's time the state took it away and give him a universal income and see if he's still on board with the idea?!  Guy is a slimy scumbag of the highest order, God help the US if he ever gets near being president.  

Nice Try Lao Che's picture

Thinks he's fucking King Herod. Herod wasn't even a Hebrew. The Romans appointed him as a de facto king, & wealth, & estates as a way to try and quell the restless populace.

fx's picture

Suckberg and Enron Musk both are yuuge fans of that idea. guess what, it's not because they suddenöly discovered their love or responsibility for the down trodden. It's all about a sufficiently large army of customers for their products and hence, profits.
Fvck Suckberg and musk.

Akzed's picture

Should everyone in America receive a “basic income” directly from the federal government?

 

Yes, unless one breaks FaceBook's rules.

SofaPapa's picture

The younger generations appear to be completely ignorant of the simple relationship that money is worthless if there is nothing of value represented by that money.  The value has to come first.  Schmucks like Zuck are playing on the stupidity of these people who think money is value.  It's not.  For money to function to improve the life of the society surrounding it, it has to represent a previously existing valuable something.  This simple reality gets obscured further and further each day now.  We are so easily fooled by simpleminded thinking like this.  Hollywood manufactures reality.  What more proof do we need of human stupidity?

Itinerant's picture

If this were true (socialism encourages laziness, but non-socialism encourages hard work) then countries like India would be rich. After all, it is hard work that contributes to the wealth of society. Do you have any idea how hard third world peasants actually work?

And if you think all of basic income has to come from the poor slobs that are working hard, it means you have no idea about how GDP is constituted. Income from current employment only represents about 50% of all reported income in the USA. In a Tr$20 economy, less than Tr$5 is being paid in wages.

Wealth is about dividends to capital, including capital sunk into infrastructure. Because of huge gains in productivity, there is a whole lot more production for an hour's worth of work. Apologists like this author make it sound as if the rich are working so hard, they are doing the work of millions of people. Not so. They just own the capital and the money flows in while they sleep, and after them, the next owner. In almost every society since the dawn of history, slaves did the hardest work for nothing. The harder you work, the less you get paid. I get paid much more than the people working outside in construction or garbage disposal, but my work is certainly not more arduous.

Most of the people that have contributed to our wealth are now dead. Many of the people who made valuable contributions never saw any returns on their ideas and inventions, even though humanity continues to reap rewards. You cannot force people to become creative, inventive, serviceable human beings by making them work extra hard because they are barely above subsistence/starvation. 

So without saying anything further about basic incomes, the economy or socialism, anything that is produced by a narrative starting out with hard work = wealth, socialism = laziness is just a complete crock.

poeg's picture

Isn't the primary one "not to go on all fours" or it's off to the House of Pain?

logicalman's picture

How Facebook's tentacles reach further than you think.

https://labs.rs/en/the-human-fabric-of-the-facebook-pyramid/ (this one is slow to load - original article)

http://www.bbc.com/news/business-39947942 as an alternative.

But I'm sure Mr. Z would never abuse the system!

 

August's picture

Most of the wealthy value one thing above all else:  social stability.

The Zuck et al. support "more of the same", by whatever means necessary.

jcaz's picture

Amazing.   ALL he had to do was shut up and count his money.  Yet, he just can't do it.

Every time this tool opens his mouth, he exposes himself as a fraud.

SMG's picture

What's really amazing is no matter how many times it horribly fails and causes mountains of human misery, there are people who think communism (which is what a universal basic income is) is a good idea.

tmosley's picture

UBI is not state seizure of the means of production. The US already redistributes money on this scale via our entitlement programs, and in a manner that produces far worse outcomes than what has been shown to happen with UBIs.

SMG's picture

Yes and we're in horrible financial condition as a result.  Although sometimes it takes decades, socialism in any form, even UBI, eventually fails.  See Venezuala for the most recent example.

tmosley's picture

No, it is a sliding scale. Properly implimented UBI interferes with markets far less than the current system, which was good enough to bring us to the verge of the technological singularity. Better is better, worse is worse. People need to stop bitching about things that are better because they aren't perfect.

OverTheHedge's picture

The following link explores costs and benefits for those who are interested: http://www.economonitor.com/dolanecon/2014/01/03/the-economic-case-for-a...

It is utterly anathema to conservative thinking, but it is interesting, none the less. Personally, I would expect, because government is involved, that it will be an unmitigated disaster, because they will not go far enough with the required reforms.

August's picture

UBI is better than the current US policy of paying the unskilled and ignorant to have children for a livelihood.

tmosley's picture

Yes, exactly.

Niggers have a dozen keedz each and sell half their food stamps for fifty cents on the dollar to buy drugs. The more responsible among them use that money to pay their rent (hahaha).

44magnum's picture

Its a good idea for (((them)))

roddcarlson's picture

The people and instigators of human misery and communism/socialism are Jews.  Mark Zuckerberg is a Jew.  His grand daddy is a Jew Rothchild, the whole college dropout story was a ruse.  And like Soros the demons in them love to punish western civilization and Japath for embracin Jesus.  They want Christian nations without a homeland as punishment for what Titus did to Israel, despite that the Jews aren't even semitic.   They want you dirt poor and dead like they did the Russian Christians in Bolshevism.  They want you and your white children mixed out and not recognizable.  They don't want rest of Japath to exact punishment and destruction back to them, they fear Hitler because deep down they know the Newtonian law of physics that for every force there is an opposite force.  Just like with the Bolsheviks then came Hitler, and they know that they are bound to be found and destroyed, that's why they work around the clock to depose of the white Christian man in his own industry and family. It was always planned to demote the white man of his Christian nations, because the women would be left defenseless. 

Now you say nobody is that concerted to do that much evil with so much planning and I agree, nobody not even the Jews as human beings could wrought such destruction on Christian nations.  But you see it's not them its the evil within them, the demons they have inherited by simply denying Jesus as the savior.  All their degenerating music and movies.  All their planning is as if they knew what they were doing, they don't but the demons inside them know full well what they are doing.  And they want you to pretend nothing is wrong and that nobody is drivin your annihilation, they want you to refuse your savior.  They want your families broken up, mixed with other races, impoverished, denying God, and most of all DEAD.  They want Christianity to be just another religion in your previous Christian homelands. 

Did you ever notice the Jews of yesteryear?  They were always promoting the unbalanced trade thing as such a good thing? Raiding your companies and selling them to overseas for millions upon millions of dollars.  Now these same people go around laughing at the misery of out of work Americans and lazy Americans.  And how hard Chinese work and how they deserve the fruits of the labor.  After these people told you that you as a people could compete at government planned dumping projects like China and using slave labor and still remain rich without manufacturing, they have the gumption to say it's Americans faults for not working or trying hard enough.  Meanwhile they take their dishonest money and move to foreign countires laughing at your demise.  Or worse and stay roughshod to convince your kids and grandchildren into more impoverishment cycles.  Like I said no the Jews as people didn't plan this, it's the unclean spirits that reside in them by denying Jesus that makes them act the way they do.  They want you to be unclean and self destructive as well.   They cannot be trusted.  They are downright liars and they enjoy seeing your misery Christians.  They enjoy it.  Get that in your head when they preach some doctrine how to save this thing or we are some brotherhood of Jews/Christians/Muslim, or how to just do as you wilt instead of plan your life an families according to a Christian and methodology of accountability and responsiblity.

Last note what is the population % of whites in America?  60%?  And this article says 40% are for socialism?  I'd bet that 40% are mostly along the genetical lines just like in crime statistics.  They say we are all the same but statistics of IQ, crime, and embracing stupid things like welfare and socialism seem to say otherwise.  The reason we aren't open arms to Latin Americans is because Latin culture kind of follows.  And quite frankly we are seeing the rewards to uncontrolled Jew immigration policies from the 1960s.  But they will tell you that we are all the same.  And blah blah blah blah.  As I said you as a people are going to have to decide if you want to live on, or die like the unclean spirits in them want you to.  They want your daughters destittute and sons unemployed.  They want you Antichrist and broken.  Choice is up to you and yes this world is conspiracy and pure fantasy lies, the unclean spirts love it that way you all confused and thinking this is some beautiful world of peace.  Our news, movies, and music are all programming to get you to where they want you which is entropic and dead. Zuckerberg like his whole family and story is arranged and the thing keeps marching to stupidity and it will until people start holding Antichrists as dangerous and at arms length.

 

 

how_this_stuff_works's picture

"If he loves socialism so much maybe it's time the state took it away and give him a universal income and see if he's still on board with the idea?!"

Would that include that gated paradise he purchased in Hawaii?

exi1ed0ne's picture

Sigh.  People should STOP thinking fiat follows the same rules as real money.  It is NOT money.

Rule 1)  What we use as the unit of account is imaginary.  Sure, there are funny looking little bits of paper associated with the current unit of account, and the average joe must do "stuff" to get it, but the dollar exists largely in the minds of 360ish million US and more worldwide.  Being imaginary, it means whatever you want it to mean - or are told it means.  However in reality it really means nothing at fucking all because fiat, by it's very definition, doesn't even exist except in rule of law.

Rule 2) Our particular flavor of fiat is the most idiotic incarnation ever devised - debt based.  This necessitates an ever increasing monetary inflation or the whole thing goes BOOM.

Rule 3) If there is not enough lending or borrowing occurring in this system it dies.  This required a lender of last resort (The Fed) and a borrower of last resort (Government)

Rule 4) There is only so much borrowing that can happen on an individual balance sheet.  IOW, debt per serf is a relatively fixed amount in an exponential system.

So, the trick is how to keep the idiocy going for a while longer yet.  Bailed out the banks bigly (TWICE), and shit got worse.  Bailed out the stock market bigly, but shit got worse.  Why did it get worse?  Because the balance sheet of the middle class, the bastion of any economy, was ravaged with lip service relief and a whole lot of fuckery.  All the money created (in the trillions!) went to those who needed it the least, and then went on to screw the average person with not only the bill, but a renewed sense of protection and self importance.  Other generations would call it a mandate from heaven to fuck over your fellow citizens.

The only way to both save the core system, stave the revolution for a few more months/year, restart the trickle UP engine that funds pensions, municipalities, and rent seekers is a direct cash injection into Joe Average in leau of debt collapse or jubilee. the only palatable way to insert this would be to follow the Social Security Ponzi method - everybody gets it.  Not enough, you know, to buy your way out of slavery.  Just enough for the courts to garnish for your creditors when you don't make payments.  Yes, another backdoor bailout for the credit industry.

In budget terms this cost would be a large item(360bil/month @ $1000), but could largely replace the THOUSANDS of safetynet programs out there.  With the decrease in that enormous overhead, you might even see a cost savings.  However, the BIGGEST unintended consequence that the left is totally missing (so shut the fuck up about it!) is that it will be IMPOSSIBLE to collect social benefits without a social security number.  Bye bye welfare to illegals, which would be a disincentive for illegal immigration, as well as reduce the burden on the system as a whole.  Have fun sanctuary cities footing the bill you've been passing on for decades.

Is UBI retarded?  Absolutely.  Is it more retarded than the current system?  Not by a long shot, and actually has some perks associated with it.  It's not like the USG is going to raise taxes or anything.  We get 3-4X the government we pay for already.

GunnerySgtHartman's picture

EXACTLY RIGHT!!  And he is portrayed as some sort of genius?!

DownWithYogaPants's picture

Oh yeah that'll result in the kind of immigrants I want to live next to.  NOT!

GunnerySgtHartman's picture

Not just immigrants, but American trash to boot.

Nice Try Lao Che's picture

Just a little douchebag that lucked out.

 

Exactly. The very definition of a douchebag is somebody who completely hit the stupid pill lottery & in the aftermath, instead of graciously accepting the windfall, feels the need to yammer about telling others how they need to live their lives.

shovelhead's picture

Lol.

Impeachment proceedings commence for deals with Russians.

He's gonna get Hannity-ed.

Stuck on Zero's picture

He didn't luck out. He stole the Facebook concept.

spastic_colon's picture

no "luck" was involved; he was chosen...........

yomutti2's picture

I agree wholeheartedly with Mr. Zuckerberg's idea. He can start writing me checks immediately.

Okienomics's picture

Douchebag, okay.  But lucked out?  You don't build a multi-billion dollar company by being lucky.

armageddon addahere's picture

If he wanted to put his money where his mouth is Zuckerberg could pay every American $193 before  his money ran out. That is figuring $61.9 billion divided by 320 million Americans.

Sort of puts the thing in perspective.

Georgiabelle's picture

Here's another idea Zuck: how about paying for it with a social media tax. Everytime someone checks their Facebook page, "Likes" something, tweets or re-tweets, posts a photo to Instagram, etc. there would be a fee (tax) used to pay for a basic income for all. 

Westcott Canon's picture

Half of the people will have a pan in their hand and the other half will have a pitch fork in their hand; interesting times. 

bobdog54's picture

A bonafide zucking idiot... Here's a guy that is getting hero worshiped for taking someone else's idea for a gossip app and costing us a big loss in productivity. Perhaps we're a nation of zucking idiots, eh?

Mute Button's picture

Does anyone like this dweeb? Marx Zuckerberg?

Jesse Eisenberg's portrayal of him in The Social Network was more likeable than the real thing and the movie version is human shit.

Go to Mars with Bezos, Marx!!!

silvercity's picture

True that. Zuck is trying to motivate young people to actually vote. Young people will not bother with voting. Party, party, party.

Oldrepublic's picture

interesting story in 4chan regarding why Trump's son in law is always in every picture,seems he is being groomed to be a future president.

 

Angelo Misterioso's picture

Schlump - you're an idiot spammer - go eat pizza with your other losers

jaxville's picture

  Fuck you!  The money will be borrowed from the usual suspects.  Your brethren will be very enriched by such a move.   Debts are hitting the limit and a new scheme is desperately needed to keep the deflation monster at bay.