REUTERS/Adam Hunger
- Facebook co-founder Chris Hughes wants to provide 90 million Americans with a monthly stipend of $ 500.
- In a Reddit AMA, he explained that he would want to pay for this by raising taxes on the one percent.
- He estimates that the program would cost just under $ 300 billion.
Chris Hughes, a co-founder of Facebook and chair of the Economic Security Project, has a proposal to attack the problem of rising income inequality through a basic income, a system of wealth distribution in which people receive a standard salary just for being alive. And he wants to pay for it by raising taxes on the one percent. See the rest of the story at Business Insider
NOW WATCH: Elon Musk explains the one thing that went wrong with SpaceX’s Falcon Heavy flight
See Also:
- The best ways to counter the negative effects of aging and live a long time — starting right now
- Elon Musk is about to launch the first of 11,925 proposed SpaceX internet satellites — more than all spacecraft that orbit Earth today
- A new study reveals how much money you really need to be happy — and it’s less than you think
