Having a monthly, tax-free, no-strings-attached income that would cover the basics for life may sound too good to be true, but it’s no fantasy. The idea of universal basic income (UBI) already has been implemented in some regions, such as Canada, Europe, and even Alaska, and Facebook founder and CEO Mark Zuckerberg recently revitalized discussion about the concept.
Zuckerberg endorsed UBI during his 2017 commencement speech at Harvard University as a means of leveling the economic playing field and opening the doors of entrepreneurship to everyone.
"We should explore ideas like universal basic income to make sure that everyone has a cushion to try new ideas," Zuckerberg told graduates. “Now it’s time for our generation to define a new social contract.”