""We're going to have our first trillionaire. The folks at the top stratum of American life are going to get richer and richer. It's going to compound over itself.""
""My kids studied hard, there's no job, they have these school loans, they're in my basement, they're getting depressed.""
""AI/robotics will produce goods & services far in excess of the increase in the money supply, so there will be a need for a universal high income.""
AI-related layoffs are impacting the job market, with Andrew Yang predicting significant fallout. He warns of increasing inequality, where the wealthy become richer while many families struggle with unemployment and debt. Yang advocates for a basic income policy to address these challenges, recalling his 2020 campaign proposal for a universal basic income. While some lawmakers support this idea for economic stability, others express concerns about its potential to discourage work and its funding costs. Prominent figures in tech, like Elon Musk, also endorse basic income as a solution to AI-related job loss.
Read at www.businessinsider.com
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