[Ed. – Channeling Obama]
British billionaire Richard Branson believes the United States government should give free money to citizens to help solve income inequality in the U.S.
“A basic income should be introduced in Europe and in America,” Branson told the New York Times in an interview published Saturday.
A basic income, also known as universal income, is a periodic payment or stipend that’s regularly paid to residents regardless of work or financial status.
“It’s great to see countries like Finland experimenting with it in certain cities,” Branson said, who is the founder of the Virgin Group and ranked No. 29 among the wealthiest people in the world, according to The Telegraph.
“It’s a disgrace to see people sleeping on the streets with this material wealth all around them. And I think with artificial intelligence coming along, there needs to be a basic income,” the billionaire continued.
Branson said he believes A.I. will lead to shorter work days and work weeks and that will increase the need for basic income.