Billionaire Richard Branson: America should give out free cash to fix income inequality

[Yo_Mama_Been_Loggin]

One solution to income inequality is giving out free cash, according to the British billionaire entrepreneur Richard Branson.

“A basic income should be introduced in Europe and in America,” Branson told David Gelles of The New York Times.

Branson was responding to the question, “What do you think those in positions of power should do to address social problems like income inequality?”

In a report published in January, the global charity Oxfam found that 82 percent of the growth in global wealth in the previous year went to the top 1 percent of individuals ranked by riches. Meanwhile, the bottom 50 percent had no increase in their wealth, the report says.

https://www.msn.com/en-us/money/markets/billionaire-richard-branson-america-should-give-out-free-cash-to-fix-income-inequality/ar-AAzuDZq?li=BBnbfcN

Not while Trumpy's in charge.

[Upthevibe]

1. Kick...n/t

[byronius]

2. Yes, absolutely. It would kick the economy into high gear. Poor people spend money.

GBI is an excellent idea.

[MichMan]

3. He could start by setting a good example himself

[oasis]

7. Do you really think Branson would make such a proposal if he had

not already given generously to charity?

[MichMan]

12. The guy is a billionaire

He could give way $900 million in cash to 450,000 poor people (20K each) and still have 100 million left over for himself

[JI7]

14. 450 thousand isn't that many. Branson is talking about a system . he should be taxed as should many

wealthy people and from that more people can get the money.

[RKP5637]

4. That would be too creative and might solve some serious problems. Our form of capitalism seems to

favor hoarding money and flaunting it over others and that is the gauge of success for many. We have degenerate capitalism that is likely going to have a fatal illness eventually.

[Oneironaut]

5. Yup. It's not just that people need to be rich. They need other people to be poor too.

That way, they can feel superior over them. Without poor people, being rich just wouldn't be as good to them.

[RKP5637]

8. Yep, it's really the "king of the mountain" syndrome. One day, it will all be torn down. No idea

when, a hundred years from now, who knows, but the financial model is not going to work intro the future, especially as worker productivity increases. The math just does not make sense. And the capitalistic model of ever increasing growth is ridiculous.

[JI7]

16. basic income would make capitalism stronger

because more people would be able to take risks without worrying about losing basic things.

it would mean if people lose their jobs they can still have some money to spend so businesses they go to will also not be hit hard .

[RKP5637]

18. Definitely!!! n/t

[suprcali]

6. fairy tale

You may as well request for a unicorn.

[RKP5637]

9. Yeah! n/t

[chowder66]

10. That's rich. He paid shit when I worked at Virgin North America.

Granted he may not have known the details but he should have. He came into the offices so he really doesn't have an excuse. It was probably a morale boosting visit to keep us good soldiers churning.
Only the executives got paid well but just about everyone else was busting their ass and underpaid. The big thing was "Hey, you get to work for Richard Branson and the culture is great.". Benefits that do not pay the bills nor help a person save for the future.
I got out before it went under or wherever Virgin went.

Thanks for the words Richard, now how about action?

[msongs]

11. no details I see. give $$ to who exactly? will all his airline flights be free too? nt

[greyl]

13. Automatic voter reg at age 18 would do the same and more. nt

[Merlot]

15. If the gov't decided to give money with one hand

they would take it back with the other...meaning that medicare, social security, public services etc would now all be charged to the public. And no one would have enough money to pay for everything.

Instead of giving money, how about they make healthcare and educaton free? If we weren't paying so much for those things, most people would be able to do much better with the money they have. Oh, and free internet too - what we in America pay for internt and phone service is ridiculously expensive.

[pnwmom]

17. Not until we have guaranteed healthcare and food. That comes first. n/t