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Every generation faces a new technological revolution.
Today it’s artificial intelligence. Just 40 years ago it was the internet.
And according to some of the biggest names in tech, AI may eventually become so powerful that millions of Americans will need government checks just to get by.
Their solution?
THE IMPENDING AI-DRIVEN JOBLESS ECONOMY: WHO WILL PAY TAXES?
Universal basic income.
The idea sounds simple enough. Every American receives a government payment regardless of whether they work, how much they earn, or how much they contribute to society.
Supporters claim it’s the inevitable answer to automation and artificial intelligence.
They’re wrong.
And many leaders promoting this across the country have it wrong.
Not because AI won’t transform the economy. It absolutely will.
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They are wrong because they make the same mistake people have made during every major technological advancement in human history, assuming that because jobs change that work disappears.
It never has.
When automobiles replaced horse-drawn transportation, millions of jobs vanished. Yet millions more were created in manufacturing, construction, logistics, insurance, tourism, and countless industries that didn’t previously exist.
The same thing happened with personal computers, the internet, smartphones, and cloud computing.
Technology destroys some jobs.
It creates entirely new opportunities.
That’s what innovation does.
What concerns me is that universal basic income assumes Americans are incapable of adapting.
It assumes that the best solution to economic change is dependency rather than opportunity.
That idea runs directly against everything that has made America successful.
Capitalism works because incentives matter.
People pursue education because it improves their future.
People take risks because they hope to build wealth.
People start businesses because they see opportunity.
People work harder because effort is often rewarded.
Universal basic incomebreaks that sacred relationship.
When income becomes disconnected from productivity, incentives begin to weaken. The link between contribution and reward slowly disappears.
And that’s where the danger begins.
America wasn’t built on guaranteed outcomes.
America was built on opportunity.
Even if universal basic income were economically effective which is highly debatable, we would still have to answer a simple question. Who pays for it?
The United States is already carrying a national debt closing in on $40 trillion. Interest payments on that debt quickly becoming the largest line item on our fiscal budget.
Now imagine sending checks to every American every month.
Not just the poor.
Not just the unemployed.
Everyone.
The price tag quickly becomes staggering.
Government would ultimately have three choices. Raise taxes, print money, or borrow even more.
None of those options creates prosperity.
In fact, they often create the opposite.
Higher taxes discourage investment. More borrowing increases future obligations. More money printing fuels inflation, which acts as a hidden tax on working families.
Ironically, the very people universal basic income is supposed to help could end up hurt the most as housing, healthcare, food, and everyday necessities become more expensive.
But perhaps the biggest problem with universal basic income isn’t economic.
It’s cultural.
The American Dream has never been about receiving a government check. Never.
It’s about creating value for other.
It’s about ownership of assets.
It’s about building something for the future.
It’s about improving your skills, taking risks, solving problems, and participating in the growth of the economy.
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The future of AI shouldn’t be a nation sitting at home collecting payments while a handful of technology companies create all the wealth.
The future should be helping Americans own businesses, invest in innovation, develop new skills, and participate in the opportunities AI creates.
The answer to artificial intelligence is not less ambition.
It’s more ambition.
Leaders who promote this idea may believe the future requires universal basic income.
I believe the future requires universal basic opportunity. So, it’s time to get off the couch.
Because history has shown that when Americans are given the chance to innovate, adapt, and compete, they don’t need a guaranteed paycheck.
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They create their own prosperity.
And that’s a far better future than anything universal basic income can offer.
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