Joe Biden Comes Out Against Universal Basic Income

Former Vice President Joe Biden comes out against universal basic income. He discussed automation and universal basic income on a blog post at the Biden Institute of the University of Delaware. (Photo Credit: Public Domain)

Former Vice President Joe Biden comes out against universal basic income.

Biden's answer to unemployment caused by technology is more funding for schooling.

Too often I hear people talking about how the jobs of the future require skills that our workers cannot attain. That's simply not the case. Today, workers in manufacturing plants already rely on complex computer systems. As I learned a long time ago, it is never a good idea to bet against the American people." (the link to his blog post on UBI is down)

Under universal basic income, people can still choose to work and, or not work. Biden appears to be making the assumption that people won't work if given UBI. In actuality, UBI will allow people to be more entrepreneurial and take risks they could not have taken before (or face social ruin). He also assumes that there will be enough jobs available for those looking to work in the face of automation.

While I appreciate concerns from Silicon Valley executives about what their innovations may do to American incomes, I believe they're selling American workers short. The future will not change the enduring American values that got us here. Our children and grandchildren deserve the promise we've had: the skills to get ahead, the chance to earn a paycheck, and a steady job that rewards hard work.Our effort will look at key policy changes needed for our workers to succeed. (the link to his blog post on UBI is down)

His Biden Institute blog post rejects a big idea (universal basic income), embraces an off-the-shelf idea (free community college), but leaves unsaid what he would do to realize his vision of “a future that puts work first.” He acknowledges the challenge of automation, the importance of higher education and the need to retain “workplace benefits and protections … in an economy where the nature of work has changed.” But he doesn’t have any game-changing answers, yet. In rejecting universal basic income, he is signaling that he is not on the democratic socialist bandwagon, though he is far from the only prominent Democrat not on board.

The purpose is nebulous, the mainstream concept of a basic income as single state welfare distribution scheme is source for misunderstanding.

What Joe doesn't understand is that each is entitled to a basic income as compensation for cooperation with society, and specifically for agreeing to accept money in exchange for goods and services... banks charge interest when loaning money into existence, that tribute is not for the use of money, because the money didn't previously exist.. the interest is to assure the value of the money, and for the acceptance of money in exchange.. money is an option to purchase anything from anyone, that option is paid for with the interest on created money, but the bank does not own the optioned labor, that is owned by each, so the interest is rightfully the property of each... not the bank.. this is our income, taken by those with great wealth,

...this is the core inequity

It is - but Universal Income is not the way to try to solve that issue. Will make it worse for anyone who really is trying to better themselves. We need to get others on board with helping themselves...it's getting harder to pull them

Somewhere between 2050 and 2100, artificial intelligence and robotics will replace almost every job/career/occupation that humans are now doing. Without UBI the only persons with money will be those who own the AI and robots. We must begin preparing now.