Kevin O'Leary says free cash handouts 'ain't going to happen.' (via CNBCMakeIt)
have been discussing the idea of UBI to help level the "wealth" playing field and to help make up for jobs that could be lost to automation, O'Leary says, "It just ain't going to happen."making it his platform to give all citizens, ages 18-64, a check for $1,000 every month from the U.S. government, it's just an idea, not a solution.
Yang's website says if he becomes president, the payments would begin in January 2021, paid for by a VAT, or value-added tax, on automation."Most people will come to the realization sooner than later that if you want to make money, you got to work. It's that simple," O'Leary says. Less incentive to work is a popular criticism of UBI . But such payments are generally seen as supplemental income.
For instance, Yang's plan to give $12,000 a year could not fully support a person — it's an income that is below the U.S poverty line, which is $12,752 per person per year for those under the age of 65, . Yang's campaign website suggests instead that people could use the money to "pay down debt, start a business, go back to school or shop at local boutiques."
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