{"id":611098,"date":"2026-04-17T22:16:10","date_gmt":"2026-04-17T22:16:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/611098\/"},"modified":"2026-04-17T22:16:10","modified_gmt":"2026-04-17T22:16:10","slug":"elon-musk-proposes-federal-checks-for-ai-job-losses-economists-disagree","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/611098\/","title":{"rendered":"Elon Musk proposes federal checks for AI job losses, economists disagree"},"content":{"rendered":"\n

Check out what’s clicking on FoxBusiness.com.<\/p>\n

Elon Musk<\/a>\u00a0turned heads Friday when he suggested that the federal government paying citizens a “universal high income” is the best way to combat AI-related job losses.<\/p>\n

“Universal HIGH INCOME via checks issued by the Federal government is the best way to deal with unemployment caused by AI,” Musk said in a post on his own X platform shortly after midnight Friday morning.<\/p>\n

The proposal, which is still pinned to the top of his X account, rebuffed the idea that such payments would be inflationary<\/a>.<\/p>\n

“AI\/robotics will produce goods & services far in excess of the increase in the money supply, so there will not be inflation,” he wrote.<\/p>\n

ANDREW YANG WILL GIVE AWAY $1K PER MONTH TO 20 AMERICANS TO PROMOTE UBI<\/a><\/p>\n

\"Elon <\/p>\n

CEO of SpaceX and Tesla, South African-Canadian-US businessman Elon Musk speaks during the World Economic Forum (WEF) annual meeting in Davos on Jan. 22, 2026. (Fabrice COFFRINI \/ AFP via Getty Images)<\/p>\n

Many economists, however, disagreed.<\/p>\n

“He is so wrong on this,” wrote Sanjeev Sanyal, the former top economic advisor to India’s Minister of Finance.<\/p>\n

“AI will certainly cause dislocation, but like all technology it will also create new jobs and opportunities in the medium term. AI and robots will also not produce goods and services in excess of money or demand that there will be no inflation,” he wrote on X.<\/p>\n

“Elon Musk’s universal high income will bankrupt any government that attempts it,” he concluded.<\/p>\n

\"Elon <\/p>\n

Tesla CEO Elon Musk attends the memorial service for political activist Charlie Kirk at State Farm Stadium on Sept. 21, 2025, in Glendale, Arizona. (Win McNamee\/Getty Images)<\/p>\n

HE INVISIBLE LAYOFF: AI IS QUIETLY LOCKING AMERICANS OUT OF THE JOB MARKET, CEO WARNS<\/a><\/p>\n

Another skeptic, Pratyush Rai, the co-founder and CEO of Merlin AI, concurred.<\/p>\n

“The basic math on UHI (Universal High Income) doesn’t add up. If everyone gets a high income check, everyone’s competing for the same houses, land, schools, lifestyle,” he posted on X.<\/p>\n

Some, however, are more hopeful that the plan could have merit.<\/p>\n

Former Democratic presidential hopeful Andrew Yang<\/a>\u00a0chimed in with tepid support. Yang, who popularized a similar idea of Universal Basic Income (UBI) during his 2020 campaign, tweeted: “It\u2019s clear that AI will wind up funding universal income. Let\u2019s make that happen ASAP.”<\/p>\n

\"Andrew <\/p>\n

Andrew Yang participates in the “From Government to Corporations: The Urgent Need for AAPI Leadership” panel during the TAAF Heritage Month Summit at The Glasshouse on May 5, 2023, in New York City. (JP Yim\/Getty Images for The Asian American Foundation)<\/p>\n

GET FOX BUSINESS ON THE GO BY CLICKING HERE<\/a><\/p>\n

Universal high income (UHI) is a significant leap from Yang’s UBI. While UBI serves to support a person’s basic needs while continuing to work, many who promote UHI preach a departure from the need to work entirely.<\/p>\n","protected":false},"excerpt":{"rendered":"Check out what’s clicking on FoxBusiness.com. Elon Musk\u00a0turned heads Friday when he suggested that the federal government paying…\n","protected":false},"author":2,"featured_media":611099,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[62,276,277,49,48,61],"class_list":["post-611098","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-artificial-intelligence","tag-artificialintelligence","tag-ca","tag-canada","tag-technology"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/611098","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=611098"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/611098\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/611099"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=611098"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=611098"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=611098"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}