Facebook co-founder wants to repeal Trump tax cuts to pay for a $500 per month basic worker income

CNBC ^ | October 18, 2018 | Berkeley Lovelace Jr.

[2ndDivisionVet]

• Facebook co-founder Chris Hughes says the federal government could give U.S. workers a stipend of $500 per month by repealing the Trump tax cuts.

• Hughes, an advocate for a basic income, argues that less than a third of Americans have reaped the benefits of the president's tax cuts.

Facebook co-founder Chris Hughes said Thursday the federal government could give U.S. workers a stipend of $500 per month by repealing the tax cuts passed late last year.

Hughes, author of "Fair Shot: Rethinking Inequality and How We Earn" and an advocate for a basic income, argued that less than a third of Americans have reaped the benefits of President Donald Trump's tax cuts.

"Everybody else, they're making the same amount that they made in 1978," Hughes said in a "Squawk Box" interview. Meanwhile, the cost of living, including health care, housing and education has risen, he added....

[norcal joe]

Here's the loser making this proposal.

[JimRed]

Basic “worker’s” income? Hey, non-workers get five times that in cash and free stuff, so WHY WORK?

[McGavin999]

Let’s start with you. Take everything above the $500 from you and let’s distribute everything else you have to those most in need. We can observe how it works for a year and then come back and see how you think it worked out.

[DownInFlames]

Start with the Hollywood 1%ers. Tax them at 90% and redistribute.

[wastedyears]

Pay for that out of your own pocket, you communist clown.

(not you 2ndDiv)

[KarlInOhio]

"Everybody else, they're making the same amount that they made in 1978," Hughes said in a "Squawk Box" interview. Meanwhile, the cost of living, including health care, housing and education has risen,

Nice mixing of an inflation adjusted figure for pay with the raw costs of everything else. Inflation has been almost 300% since 1978. If you do adjust for it in wages but not prices everything looks awful.

[GOPJ]

Well, a least Chris Hughes is slightly more creative than the usual socialist. He’ll ‘give’ everyone $500 then raise taxes on the middle class to pay an extra $600 a year to pay for it.

[FLT-bird]

If it’s such a good idea, let’s start with his money and see how it goes.

[SmokingJoe]

I have a better idea: All these deranged, Trump hating far left billionaires with crazy ideas(who are worth collectively up to $2 Trillion) should be made to pay every American family with young children $5000 a year to help them bring up their kids.
That shouldn’t be too hard, given that we just found out Soros and his cohorts are handing out free cash to these Guatemalan and Honduran invaders in the “caravan” which is on a mission to force its way into our country.

[Kickass Conservative]

Just add a line to the Tax Form for Voluntary Contributions.

Call it the Liberal Guilt Tax.

Like everywhere its ever been tried, it may produce enough to pay for the Paper it’s written on.

Remember John F’n Kerry who paid the lower 5% MA State Income Tax instead of checking the Voluntary Box that would have paid 7%.

That was before he hid his Yacht out of State to avoid paying the MA Taxes on it.

[KarlInOhio]

$500 per month for 130 million full time employees (more if you add part timers) equals $780 billion per year. Estimates of the static cost of the tax cut were around $150 billion per year. That math just does not add up.

[sphinx]

There are two kinds of advocates for a guaranteed income. The intellectually serious advocates would use it to replace part or all of the myriad current welfare programs. The idiots would just tack it on to the current mess, so that the professional Section 8/EITC/Food Stamp/Medicaid demographic has a little more walking around money to spend.

[minnesota_bound]

The guy has billions and will keep his money while wanting to spend yours.

[Lockbox]

Hey Chris, spend your own money! There's a reason 1/3 did not get a 'tax cut', they either do not work or they already receive tax breaks, credits, etc for their low income status.

I am so tired of 'smart' people who do not have the basic understanding of what they are talking about!

[metmom]

I’m sure he’s worth millions, if not billions.

He can give people $500 a month for life if he wanted to and he wouldn’t even miss it.

[Delta 21]

I wonder if they support unlimited borders and throwing homosexuals from buildings?

A handful of muslems in that photo and things would take care of themselves.

[metmom]

And the tax cuts ARE giving people more money per month.

They benefit everyone who’s in a tax bracket where they pay taxes.

[Rocky]

He can lead the way. As someone else previously said, write the check. Don’t just talk.

[fella]

Why doesn’t Chris Hughes do it himself?

He’s got the money.

[fella]

He’s the ultimate NPC (Non-Playable Character).