Mark Zuckerberg Calls for Universal Basic Income in His Harvard Commencement Speech (fortune.com)

Facebook CEO Mark Zuckerberg has become the latest major tech figure to call for universal basic income as a solution for inequality, joining a growing chorus from Silicon Valley. From a report: "Every generation expands its definition of equality. Now it's time for our generation to define a new social contract," Zuckerberg said during his commencement speech at Harvard University. "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 give everyone a cushion to try new things," he said. Zuckerberg told the class of 2017 that he was able to pursue his passion in Facebook because he knew he had a safety net to fall back on.

Comments

OK, But...

[ytene]

Facebook are one of a number of companies that have a habit of using exotic international tax vehicles to move profits from countries where corporation taxes are reasonable to countries where they are super-low. As a result of this, personal taxation in the countries where Facebook export their profits have to be higher. Which pushes down the standard of living for citizens in those countries.

I get that this speech was more about marketing and PR than actually intending to do anything useful, but in the event that Mr Zuckerberg would like to make a positive start to inequality, can I respectfully suggest that he pays taxes where they are due, and makes a declaration that Facebook will no longer use "international tax vehicles" to move profits around and thereby avoid paying taxes.

If Mr Zuckerberg and/or Facebook aren't willing to do that, then can I respectfully suggest that he is full of ####.

Re:Isn't this just welfare for the rich?

[elrous0]

Yes, I would rather people be campaigning for Universal Basic Employment. That is, a system where everyone would always have access to a job that paid basic living expenses, a job built around each person's particular skill set.

Of course the CEO's of the world would never campaign for THAT, because it might threaten their cheap labor supply (who would then always have an alternative job to go to).