A $500 monthly check from the government for every American earning less than $50,000, financed by taxing the wealthy, would provide financial stability for millions of people in the United States, said the co-founder of Facebook.
Chris Hughes, who made billions after co-founding the social network with Mark Zuckerberg while at Harvard University, said such a guaranteed income was needed to counteract the effects of growing income inequality in the United States.
Despite a recovery in the U.S. labor market, millions of citizens work in the informal economy with little job security and few benefits, largely due to automation and the outsourcing of jobs abroad.