ARRA News Service
ARRA News Service facebook page  
News for social, fiscal & national security conservatives who believe in God, family & the USA. Upholding the rights granted by God & guaranteed by the U.S. Constitution, traditional family values, "republican" principles / ideals, transparent & limited "smaller" government, free markets, lower taxes, due process of law, liberty & individual freedom. All content approval rests with the ARRA News Service Editor. Opinions are those of the authors. While varied positions are reported, beliefs & principles remain fixed. No revenue is generated for or by this site - no paid ads accepted - no payments for articles. Fair Use doctrine is posted & used.
Editor/Founder: Bill Smith, Ph.D. [aka: OzarkGuru & 2010 AFP National Blogger of the Year]
Contact: editor@arranewsservice.com (Pub. Since July, 2006)
    Home Page

One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors. -- Plato (429-347 BC)

Friday, June 02, 2017

Mark Zuckerberg's 'Universal Basic Income' Would Herald The End Of Capitalism

by Robert Romano: Since 1997 labor participation among working age adults —16 to 64 — peaked and has been steadily dropping, accounting for roughly 9 million Americans who did not enter the labor force but would have had participation remained at the same rate, according to data compiled by the Bureau of Labor Statistics

Overall, the number of 16 to 64 year olds not in the labor force increased 16.5 million in that time, to 55.2 million.

During that same period, the U.S. economy has dramatically slowed down. It has not grown above 4 percent since 2000, and not above 3 percent since 2005.

The issue is not a matter of virtue. Americans did not suddenly become lazy. Most of the decline occurred after the financial crisis in 2008 and 2009, which eliminated millions of jobs. What followed was the worst recovery in American history, with fewer jobs now available per capita.

But it could get worse, as some observers see this as a long-term trend.

Factors such as increased automation plus globalization and outsourcing loom large as leading the decline, and raise the prospect that as economies reach their advanced stages, individuals in the U.S., Japan and Europe will simply be working a lot less in the future.

If so, then how will Americans increasingly make a living? For most Americans not born into luxury, almost everything families take for granted — housing, food, clothing, transportation, etc. — all depend primarily on a steady, stable source of income.

So, what to do, if not work?

Facebook founder and CEO Mark Zuckerberg had an answer for Harvard graduates at the 2017 commencement address on May 25: “We should explore ideas like universal basic income to make sure that everyone has a cushion to try new ideas.”

The idea is that the federal government would just cut checks, say, starting at $10,000 as proposed by the American Enterprise Institute’s Charles Murray, for every single American. To be fair, Murray calls for such a system to replace the current system of government programs including those for the elderly like Social Security and Medicare.

Zuckerberg, however, made no such distinction. The implication, then, with his broad, vague call for “universal basic income” is as a sort of add-on for the already existing structure of hundreds of billions of dollars of taxpayer-subsidized supplemental income and retirement programs.

Say, the $10,000 figure was applied to 254 million Americans over the age of 16. That would cost an extra $2.5 trillion a year. Think that might put a little strain on all the other government programs, particularly those directed at seniors? The national debt, already $20 trillion, would double in about 6 years.

Which, if the economy does not get moving — the last 10 years were the slowest average annual growth recorded in U.S. history, even worse than the Great Depression — may ultimately be the future that awaits the American people, whether they like it or not.

A future, that is, where jobs become rare and the calls for guaranteed income grow, for once an entitlement is granted, after a century of experience, it will never be rescinded.

Never mind the fact that the idea simply defies human nature for individuals to take care of their own families.

Or that the American people, including millions of Millennials who Zuckerberg pretends to represent, just voted, not for welfare, but for jobs in 2016 under the platform of President Donald Trump, who promised to bring work by to the U.S.

Or that no level of automation could truly replace the need for individuals to work.

Or to the extent that as universal income gradually replaces a significant percent work, to the extent that individuals wind up making less than if they had been working, it would reduce consumer expenditures — becoming a net drag on the economy.

It would truly be the nanny state, forevermore, with declining standards of living.

Then, elections would revolve around not how to best grow the economy or create jobs in the private sector, but how much everyone’s annual stipend should be increased. Both businesses and individuals would clamor for more, since then more goods and services could be bought and sold — a vicious cycle of ever-increasing dependency.

Ultimately, individual welfare will become corporate welfare, affirming the end of capitalism as we know it and confirming that the American system is no longer one of innovation, but of subsidy.

Zuckerberg joked at the Harvard commencement address that Millennials do not need to find their purpose, that they try do that instinctively. He believes that a little extra income would create room for innovation, and incentivize individuals to become producers. But just the opposite would occur.

Instead, guaranteed income would crowd out other potential opportunities in the economy, disincentivize risk-taking and reward complacency — wrecking individuals’ sense of purpose. Individuals, working less, would transition to simply being consumers.

After all, why take risks and try to invent something when the government will take care of you for free and you can sit around watching streaming movies, playing games, or worse? Surely, such a system would create more opportunities for leisure activity. Yet, necessity is the mother of all invention. Remove need and what remains?

Again, there are already 55.2 million 16 to 64 year olds not in the labor force, an increase of 16.5 million since 1997 as labor participation declined. How many more would join those ranks under Zuckerberg’s plan?

Ultimately, like utopianists of the years past, Zuckerberg’s political program of “universal basic income,” if implemented, will be judged by what it led to. If his vision leads to even less growth, fewer jobs per capita and lower incomes, combined with declining living standards and more debt, it will end up on the same ash heap of history as other failed ideologies that couldn’t keep their promises.
----------------
Robert Romano is the Senior Editor of Americans for Limited Government. His article was first shared on the ALG's NetRight Daily blog.

Tags: Mark Zuckerberg, 'Universal Basic Income', Would Herald, The End Of Capitalism, Robert Ramano, Americans for Limited Government To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service and "Like" Facebook Page - Thanks!
Posted by Bill Smith at 2:00 PM - Post Link

1 Comments:

Anonymous Elizabeth Clifford said...

I don't think so because a universal income would spell poverty to the majority of earths population. Then bartering would begin and before you know it capitalism would be established again. The question is ..... how many years would that take?

6/06/2017  

Post a Comment

<< Home


National Debt
Don't miss anything!
Subscribe to the
ARRA News Service
It's FREE & No Ads!

You will receive a verification email
& must validate you subscribed!

You Then Receive One Email Each AM
With Prior Days Articles / Toons / More


Also, Join us at:
Facebook.com/ARRANewsService


Recent Posts:
Personal Tweets by the editor:
Dr. Bill - OzarkGuru - @arra
#Christian Conservative; Retired USAF & Grad Professor. Constitution NRA ProLife schoolchoice fairtax - Editor ARRA NEWS SERVICE. THANKS FOR FOLLOWING!

Action Links!
Arkansas State Senators
AR State Representatives
Arkansas Governor Office
Arkansas Attorney General
Bankrupting America
US House of Representatives
US Senators
Family Research Council
GrassFire
NumbersUSA
Ballotpedia
Judgepedia
Sunshine Review

Facebook Accts - Dr. Bill Smith
Pages:
ARRA News Service
Arkansans Against Big Government
Alley-White Am. Legion #52
Catholics & Protestants United Against Discrimination
End Taxpayer Funding of NPR
Overturn Roe V. Wade
Prolife Soldiers
Project Wildfire 4 Life
Republican Liberty Caucus of Arkansas
The Gold Standard
US Atty Gen Loretta Lynch, aka Eric Holder, Must Go
Veterans for Sarah Palin
Why Vote for Hillary (Satire)
FB Groups:
Arkansas For Sarah Palin
Arkansas Conservative Caucus
Arkansas County Tea Party
Arkansans' Discussion Group on National Issues
Blogs for Borders
Conservative Solutions
Conservative Voices
Defend Marriage -- Arkansas
FairTax
FairTax Nation
Arkansas for FairTax
Friends of the TEA Party in Arkansas
Freedom Roundtable
Let's Mine AR Lignite NOW!
Pro-Life Rocks - Arkansas
Republican Network
Republican Liberty Caucus of AR
Reject the U.N.

Patriots
Exchange
Links

Request Via
Article Comment

Links to ARRA News
A Patriotic Nurse
Agora Associates
a12iggymom's Blog
America, You Asked For It!
Americans for a Free Republic
America's Best Choice
America's Whatchtower
An Ol’ Broad’s Ramblings
ARRA Twitter
As A Matter of Fact
As The Crackerhead Crumbles
Baaad Media!
Black & Right
Blogs For Borders
Blogs for Palin
Blow the Trumpet Ministry
Boot Berryism
Cap'n Bob & the Damsel
Chicago Ray Report
Chuck Baldwin - links
Citizen Pamphleteer
Common Cents
Conservative Hideout
Conservative Observer AZ
Conservative Voices
Conway Real Deal
Defeat Obama's Agenda
Diana's Corner
eGOP News
Florida Pundit
Franklin Online Outreach
Freedom For US Now
Free Zone Media Center
For God and Liberty
Garland County Republicans
Greater Fitchburg For Life
Guns and Religion
Lasting Liberty Blog
Liberal Isn't Amy
Liberty's Lifeline
Maggie's Notebook
Marathon Pundit
Monkey in the Middle
NASA Satellites
No Runny Eggs
Okie Campaigns
Our Voices Arkansas
Patriot's Corner
ProLifeBlogs
Publius Forum
Randy's Roundtable
Real Debate Wisconsin
Religion and Morality
Right on Issues that Matter
Right Reason
Rocking on the Right Side
Saber Point
Saline Watchdog
Secure Arkansas
Sentry Journal
Sultan Knish
Teresamerica
Stop Obama Satire & Cartoons
The Arkansas Patriot
The Audacity of Logic
The Blue Eye View
The Bobo Files
The Born Again Americans
TEA Party Cartoons
The Conservative Citizen
The Foxhole | Unapologetic Patriot
The Liberty Republican
The Lid
The Looking Spoon
The Maritime Sentry
The O Word
The Path to Tyranny Blog
The Real Polichick
TOTUS
Truth About Obamacare
Twitter @ARRA
Warning Signs
Women's Prayer & Action
WyBlog

Editor's Managed Twitter Accounts
Twitter Dr. Bill Smith @arra
Twitter Arkansas @GOPNetwork
Twitter @BootBerryism
Twitter @SovereignAllies
Twitter @FairTaxNation

Editor's Recommended Orgs
Accuracy in Media (AIM)
American Committment
American Culture & Faith Institute
American Enterprise Institute
American Family Business Institute
Americans for Limited Government
Americans for Prosperity
Americans for Tax Reform
American Security Council Fdn
AR Faith & Ethics Council
Arkansas Policy Foundation
Ayn Rand Institute
Bill of Rights Institute
Campaign for Working Families
Center for Individual Freedom
Center for Immigration Studies
Center for Just Society
Center for Freedom & Prosperity
Citizens Against Gov't Waste
Citizens in Charge Foundstion
Coalition for the Future American Worker
Competitive Enterprise Institute
Concerned Veterans for America
Concerned Women for America
Declaration of Am. Renewal
Eagle Forum
FairTax
Family Research Council
Family Security Matters
Franklin Center for Gov't & Public Integrity
Freedom Works
Gingrich Productions
Global Incident Map
Great Americans
Gold Standard 2012 Project
Gun Owners of America (GOA)
Heritage Action for America
David Horowitz Freedom Center
Institute For Justice
Institute for Truth in Accounting
Intercollegiate Studies Institute
Judicial Watch
Less Government
Media Reseach Center
National Center for Policy Analysis
National Right To Work Foundation
National Rifle Association (NRA)
National Rifle Association (NRA-ILA)
News Busters
O'Bluejacket's Patriotic Flicks
Open Secrets
Presidential Prayer Team
Religious Freedom Coalition
Renew America
Ron Paul Institute
State Policy Network
Tax Foundation
Tax Policy Center
The Club for Growth
The Federalist
The Gold Standard Now
The Heritage Foundation
The Leadership Institute
Union Facts



Blogs For Borders

Reject the United Nations

Adopt Our Troops in Prayer


Thousands of Deadly Islamic Terror Attacks Since 9/11

FairTax Nation on FaceBook
Friends of Israel - Stand with Israel
Blog Feeds
Syndicated - Get the ARRA News Service feed Syndicated!
ARRA Blog Feed

Add to Google Reader or Homepage

Add to The Free Dictionary

Powered by Blogger


  • How To Exchange Links!
  • Comments by contributing authors or other sources do not necessarily reflect the position the editor, other contributing authors, sources, readers, or commenters. No contributors, or editors are paid for articles, images, cartoons, etc. While having reported on and promoting the beliefs associated with the ARRA, this blog/site is not controlled by nor funded by the ARRA. This site/blog does not advertise for money or services nor does it solicit funding for its support.
  • Fair Use: This site/blog may contain copyrighted material the use of which has not been specifically authorized by the copyright owner. Such material is made available to advance understanding of political, human rights, economic, democracy, and social justice issues, etc. This constitutes a 'fair use' of such copyrighted material as provided for in section Title 17 U.S.C. Section 107 of the US Copyright Law. Per said section, the material on this site/blog is distributed without profit to readers to view for the expressed purpose of viewing the included information for research, educational, or satirical purposes. Any person/entity seeking to use copyrighted material shared on this site/blog for purposes that go beyond "fair use," must obtain permission from the copyright owner.
  • © 2006 - 2017 ARRA News Service
Creative Commons License
Creative Commons Attribution Noncommercial Share Alike 3.0 Unported License.