Facebook’s mark Zuckerberg is at it again, defending the idea of a universal basic income in the United States.
In a blog post, Zuckerberg claims the UBI is working in Alaska but he doesn't address Alaska's deficits and that Governor Bill Walker has called to increase taxes. Vance Ginn, economist with the Texas Public Policy Foundation, told KTRH those on the extreme left love the idea of a UBI, but it only sounds good, but it's not realistic.
“In theory it sounds like a dream come true,” Ginn explained. “The problem is there are political realities that like the current system. You can’t get rid of all welfare systems and install a UBI.”
Ginn says Alaska is learning the reality with UBI; that it doesn’t work at all.
“Those dollars have to come from somewhere. If you give people cash, you have a less productive private sector and less money to tax,” Ginn stated.