A Universal Basic Income Will Become A Reality
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Bill Gates predicted in February 2017 that eventually countries will be rich enough to finance a universal basic income (UBI) that will be received by every person of legal age. As robots replace an increasing number of workers, Gates believes wealth will continue to increase and eventually countries will be rich enough to finance a UBI. Gates admits that right now, even the United States doesn’t have enough wealth to guarantee this type of assistance to every American in need. Gates believes we are already moving in this direction with such tax breaks as the earned income tax credit which is essentially a “negative tax” option.
