Vinod Bhardwaj (@VinodBhardwajUS) “It is a great idea. I have been posting about "Univsrsal Basic Investment" inste” — TopicDigg

It is a great idea. I have been posting about "Univsrsal Basic Investment" instead of Universal Basic income. Direct gifting of stock to all citizens is what is needed to solve the problem of everyone becoming jobless when AI starts doing all the jobs. It is only a matter of time when that will happen. Direct gifting of stock will eliminate the problem of the owners of AI industry using loopholes to reduce their taxes, or not sell the stock at all so that there is no income, or creating Super-PACs to fund the politicians who would be willing to keep their taxes low, or bribing the politicians. Universal Basic Income is slavery of the business owners and politicians. The people will have to live with whatever the two decide together to give as UBI. Since the rich are able to bribe the politicians, UBI will turn into food stamps for all. They will give just enough so that people have no incentive to create a French Revolution in the US. The rich and the politicians will get even more power than they have right now because people will have no income to fund the politicians. This is why communism failed everywhere because everything was owned by the government. Direct ownership of stock of not just AI but also all other industries should be given away to the people. This would make sure that winners and losers are selected by the people as consumers and investors, not by the politicians. The dream of communism - people owning the means of production and distribution - could be achieved by making everyone a financially independent capitalist owning enough stock to live off the normal returns of the market without anyone having to do anything more than having to manage one's investments. Since AI will do all the jobs, everyone will have a retired person's life. The communists utopia will be achieved via extreme capitalism where everyone is a financially independent capitalist. There will be no need of social welfare programs. The government will only do what only the government can do. It would be closest to the dream of the libertarians. Extreme capitalism fits very well with the ideology of the US. In contrast, Universal Basic Income is extreme socialism where 160 milllion are paid by government without having to work They will be fighting for handouts, instead of managing ones investments. Direct gifting of stock would make some citizens Warren Buffets while others might play golf all day being content with the normal returns of the stock market. If we can implement this, there will be huge excitement for AI. It will progress even faster because even more investment will flow into it. The AI is a huge opportunity, or a huge problem based on whether we implement Universal Basic Investment or not. The US could have a single party - American Capitalist Party, just as China has the Chinese Communist Party.