Billionaire Richard Branson: America should give out free cash to fix income inequality

CNBC ^ | 2 Jul 18 | Catherine Clifford

[seanmerc]

One solution to income inequality is giving out free cash, according to the British billionaire entrepreneur Richard Branson.

“A basic income should be introduced in Europe and in America,” Branson told David Gelles of The New York Times.

Branson was responding to the question, “What do you think those in positions of power should do to address social problems like income inequality?”

[MileHi]

No, British billionaire entrepreneur Richard Branson, you should give out free cash. BTW, do you hire accountants to reduce your taxes as much as possible?

[Vlad The Inhaler]

[heights]

Just twittered him. Told him ‘Hey I’m a 65-year-old guy dying of Emphysema, pay off my $45,000 mortgage”... Yeah, right.

[outofsalt]

According to wiki there are 525 billionaires in the US.
https://en.wikipedia.org/wiki/List_of_U.S._states_by_the_number_of_billionaires

[ConservativeDude]

exactly. And look how it has raised billions of people out of poverty, and turned them into productive, wealthy, law-abiding citizens....

[spudville]

See that way if you don’t toe the globalist party line, vote right, think right etc., they can cut off your means of living til you get your mind straight. If you don’t and you starve to death they’ll call it a clerical error.

[Gritty]

“What do you think those in positions of power should do to address social problems like income inequality?”

Branson: "Hey, I"ve got a new and great idea. Let's again violate the Eight Commandment (You shall not steal) to once again break the Tenth Commandment (You shall not covet ... any thing that is your neighbor's) - all for political purposes and we will do it in the name of "compassion!"

That will probably work as well as it always has (i.e. it won't).

[Simon Foxx]

Early onset of senility - Exhibit 1.

[The Pack Knight]

“It’s a disgrace to see people sleeping on the streets with this material wealth all around them,” Branson said.

People sleeping on the streets has nothing to do with "income inequality" or even a shortage of affordable housing, as is often claimed. Actual "sleeping on the streets" homelessness is quite rare, and largely the result of mental illness and drug abuse. "Basic income," which is one of the most economically illiterate ideas I've ever heard, will do absolutely nothing for these people.

Basic income is a problem in search of a solution. As Walter E. Williams recently pointed out, "There is virtually no material poverty in the U.S." Today, "poverty" is misleadingly defined in relative rather than absolute terms, labeling people as "impoverished" who are lacking none of life's necessities, have access to significant luxuries, and enjoy a standard of living greater than what would be considered "middle class" in most of the world.

Universal basic income would not cure poverty. It would just become the new standard of poverty, with constant demands for a "living UBI," just as we see with the minimum wage today.

[The Pack Knight]

Basic income is a problem in search of a solution.

I of course mean "solution in search of a problem."

[right way right]

My grandma lived another 20 years after the doc told her she was dying of emphysema. Just in case you never heard of such.

[PCPOET7]

I f I contacted Richard branson do you think he will help me out by giving me some of his cash. I live on social security so I am no rich. e does not need top have the government do it why not have Richard Branson, Warren Buffet, Bill Gates, George Soros, The Walton Family all take a lead n this and the other multi Milliners and those who have more can on there own start helping out those less fortunate then themselves.

being charitable is a great characteristic to have. but non of those Billionaires I called upon are charitable individuals they pretend to be. none of them understand that it is the person that gives when it takes effort that is truly charitable. instead the four individuals I mentioned want the government to ( TAX) or steal from others. they are fairly certain they can Hire a tax man who will make it so others pay not them.

[ExpatCanuck]

Hey Richard, great news, you can start with me! I would love $100k to pay off my mortgage! Thanks so much Richard!

[I want the USA back]

Anyone who proposes that is an a$$hole. How about the government taking most of billionaires’ money, and just leave them the exact same amount that the government gives to “poor” people?

[nesnah]

You go first, Dick.

[Rebelbase]

How many refugees could fit on your Island, Richard?

[GOP Poet]

Ha! Great point!

[M Kehoe]

Excellent! I want first class accommodations on the next Virgin Airways flight to London.

5.56mm

[Ann Archy]

OMG!! Is that Richard Branson??? YIKERS!! No wonder he is CRAZY!

[JohnnyP]

At least drunken sailors are spending their own money.