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.PALANTIR CTO SHYAM SANKAR: THE AMERICAN PEOPLE ARE BEING LIED TO ABOUT AIThey 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 b...