Government Mandated Universal Income Is a Bad Idea

Mark Zuckerberg, founder of Facebook, wants everyone to have free money. He makes common cause with others in Silicon Valley who want the same thing.

He made the call at a recent Harvard commencement speech when he talked about the need to “modernize democracy”

“Every generation expands its definition of equality. Now it’s time for our generation to define a new social contract,” Zuckerberg was reported to have said. “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.”

He added that a universal basic income would give people a cushion so they wouldn’t be afraid of investigating new ideas.

But we should be suspicious of young billionaires who make such remarks. Giving people a basic income would help people make a living but it would also give government tremendous control.

Zuckerberg thinks it is an extension of equality when it is actually an extension of state service, which never come without a price.

A universal income would provide an incentive for considerable increased corruption. We should be concentrating on removing regulations not adding to them.

A universal basic income will just make things worse. Everyone would end up as an extension of government power and ultimately few would have the wherewithal to oppose it.

That’s the real idea of course.

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