To tout universal basic income, presidential candidate puts skin in the game

[g5000]

Where is this free money coming from?

There was a link in the post right before yours, and the post itself said how UBI would be paid for.

Here:


What is Universal Basic Income? - Andrew Yang for President

It would be easier than you might think. Andrew proposes funding UBI by consolidating some welfare programs and implementing a Value-Added Tax (VAT) of 10%. Current welfare and social program beneficiaries would be given a choice between their current benefits or $1,000 cash unconditionally – most would prefer cash with no restriction.

A Value-Added Tax (VAT) is a tax on the production of goods or services a business produces. It is a fair tax and it makes it much harder for large corporations, who are experts at hiding profits and income, to avoid paying their fair share. A VAT is nothing new. 160 out of 193 countries in the world already have a Value-Added Tax or something similar, including all of Europe which has an average VAT of 20 percent.

The means to pay for a Universal Basic Income will come from 4 sources:

1. Current spending. We currently spend between $500 and $600 billion a year on welfare programs, food stamps, disability and the like. This reduces the cost of Universal Basic Income because people already receiving benefits would have a choice but would be ineligible to receive the full $1,000 in addition to current benefits.

2. A VAT. Our economy is now incredibly vast at $19 trillion, up $4 trillion in the last 10 years alone. A VAT at half the European level would generate $800 billion in new revenue. A VAT will become more and more important as technology improves because you cannot collect income tax from robots or software.

3. New revenue. Putting money into the hands of American consumers would grow the economy. The Roosevelt Institute projected that the economy would grow by approximately $2.5 trillion and create 4.6 million new jobs. This would generate approximately $500 – 600 billion in new revenue from economic growth and activity.

4. We currently spend over one trillion dollars on health care, incarceration, homelessness services and the like. We would save $100 – 200 billion as people would take better care of themselves and avoid the emergency room, jail, and the street and would generally be more functional. Universal Basic Income would pay for itself by helping people avoid our institutions, which is when our costs shoot up. Some studies have shown that $1 to a poor parent will result in as much as $7 in cost-savings and economic growth.

 

[Cecilie1200]

Socialism is about equality and equal protection of the law.

When I was growing up socialism was about passing the bong around and sharing a table in the school cafeteria, because capitalism was working just fine in the 60's and 70's before Reaganomics.

I'm sorry, did you just try to tell us that the economy of the 60s and 70s was better than that of the Reagan era?

Oh, yeah. I'm TOTALLY going to take you seriously now.

 

[the other mike]

Socialism is about equality and equal protection of the law.

When I was growing up socialism was about passing the bong around and sharing a table in the school cafeteria, because capitalism was working just fine in the 60's and 70's before Reaganomics.

I'm sorry, did you just try to tell us that the economy of the 60s and 70s was better than that of the Reagan era?

Oh, yeah. I'm TOTALLY going to take you seriously now.

Despite some setbacks from the Vietnam war and 2 decades of war before that, the US economy was doing just fine, and stayed under a trillion dollars in debt until 1981. We've racked up $22 trillion since then. The Japanese trade deals were terrible for us, and got worse every year with China and Mexico.

 

[g5000]

Socialism is about equality and equal protection of the law.

When I was growing up socialism was about passing the bong around and sharing a table in the school cafeteria, because capitalism was working just fine in the 60's and 70's before Reaganomics.

I'm sorry, did you just try to tell us that the economy of the 60s and 70s was better than that of the Reagan era?

Oh, yeah. I'm TOTALLY going to take you seriously now.

 

[Cecilie1200]

Socialism is about equality and equal protection of the law.

When I was growing up socialism was about passing the bong around and sharing a table in the school cafeteria, because capitalism was working just fine in the 60's and 70's before Reaganomics.

I'm sorry, did you just try to tell us that the economy of the 60s and 70s was better than that of the Reagan era?

Oh, yeah. I'm TOTALLY going to take you seriously now.

Despite some setbacks from the Vietnam war and 2 decades of war before that, the US economy was doing just fine, and stayed under a trillion dollars in debt until 1981. We've racked up $22 trillion since then.

Can't deny increasing debt. But there's a lot more to the US economy than the national debt. And you would have to be on crack to think the 80s was the "screeching halt" to the "booming economy" of the 60s and 70s.

 

[the other mike]

Can't deny increasing debt. But there's a lot more to the US economy than the national debt. And you would have to be on crack to think the 80s was the "screeching halt" to the "booming economy" of the 60s and 70s.

I haven't done coke since 1983 and there was no such thing as crack
back then.

 

[Cecilie1200]

Can't deny increasing debt. But there's a lot more to the US economy than the national debt. And you would have to be on crack to think the 80s was the "screeching halt" to the "booming economy" of the 60s and 70s.

I haven't done coke since 1983 and there was no such thing as crack
back then.

I didn't say you were on it THEN. I said you'd have to be on it NOW, when you're actually saying the stupid shit to which I refer.

Unlike you, I was sober in the 70s and 80s, and I can tell you that you're ass-backwards.

 

[the other mike]

I didn't say you were on it THEN. I said you'd have to be on it NOW, when you're actually saying the stupid shit to which I refer.

Unlike you, I was sober in the 70s and 80s, and I can tell you that you're ass-backwards.

You sound like a typical globalist snob, pretending to respect this country's freedom while you piss on it.

 

[BluesLegend]

Where is this free money coming from?

There was a link in the post right before yours, and the post itself said how UBI would be paid for.

Here:


What is Universal Basic Income? - Andrew Yang for President

It would be easier than you might think. Andrew proposes funding UBI by consolidating some welfare programs and implementing a Value-Added Tax (VAT) of 10%. Current welfare and social program beneficiaries would be given a choice between their current benefits or $1,000 cash unconditionally – most would prefer cash with no restriction.

A Value-Added Tax (VAT) is a tax on the production of goods or services a business produces. It is a fair tax and it makes it much harder for large corporations, who are experts at hiding profits and income, to avoid paying their fair share. A VAT is nothing new. 160 out of 193 countries in the world already have a Value-Added Tax or something similar, including all of Europe which has an average VAT of 20 percent.

The means to pay for a Universal Basic Income will come from 4 sources:

1. Current spending. We currently spend between $500 and $600 billion a year on welfare programs, food stamps, disability and the like. This reduces the cost of Universal Basic Income because people already receiving benefits would have a choice but would be ineligible to receive the full $1,000 in addition to current benefits.

2. A VAT. Our economy is now incredibly vast at $19 trillion, up $4 trillion in the last 10 years alone. A VAT at half the European level would generate $800 billion in new revenue. A VAT will become more and more important as technology improves because you cannot collect income tax from robots or software.

3. New revenue. Putting money into the hands of American consumers would grow the economy. The Roosevelt Institute projected that the economy would grow by approximately $2.5 trillion and create 4.6 million new jobs. This would generate approximately $500 – 600 billion in new revenue from economic growth and activity.

4. We currently spend over one trillion dollars on health care, incarceration, homelessness services and the like. We would save $100 – 200 billion as people would take better care of themselves and avoid the emergency room, jail, and the street and would generally be more functional. Universal Basic Income would pay for itself by helping people avoid our institutions, which is when our costs shoot up. Some studies have shown that $1 to a poor parent will result in as much as $7 in cost-savings and economic growth.

LMAO so with a whopper tax increase shocker. And the negative economic consequences of this giant tax increase?

 

[danielpalos]

Socialism is about equality and equal protection of the law.

When I was growing up socialism was about passing the bong around and sharing a table in the school cafeteria, because capitalism was working just fine in the 60's and 70's before Reaganomics.

we have a better understanding of economics, now; we know capitalism "died in 1929" and that socialism has been bailing out capitalism ever since. socialism is like Palmolive, you are "soaking in it".

 

[Cecilie1200]

I didn't say you were on it THEN. I said you'd have to be on it NOW, when you're actually saying the stupid shit to which I refer.

Unlike you, I was sober in the 70s and 80s, and I can tell you that you're ass-backwards.

You sound like a typical globalist snob, pretending to respect this country's freedom while you piss on it.

You sound like a typical leftist moron, spouting buzzwords like you expect me to be worried about your opinion.

 

[danielpalos]

Socialism is about equality and equal protection of the law.

When I was growing up socialism was about passing the bong around and sharing a table in the school cafeteria, because capitalism was working just fine in the 60's and 70's before Reaganomics.

I'm sorry, did you just try to tell us that the economy of the 60s and 70s was better than that of the Reagan era?

Oh, yeah. I'm TOTALLY going to take you seriously now.

seems like only "lost our highs" not our lows.

 

[B. Kidd]

Andrew Yang, an entrepreneur and presidential candidate, wants to give every American adult $1,000, every single month.

To test a universal basic income program, Yang is giving two families, one in Iowa and one in New Hampshire, $1,000 a month out of his own pocket, according to CBS News. Yang is running as a Democrat and both states are early primary contests for the 2020 presidential nomination.

Presidential candidate paying $1,000 universal basic income

Here he is with Joe Rogan recently.

Yin sez the Yang is off-kilter.

 

[the other mike]

Yin sez the Yang is off-kilter.

He should have Martin Yan as his running mate.

Yang Yan 2020
They'll have a show from the White House kitchen....
"If Yan can cook Yang can too."

 

[the other mike]

You sound like a typical leftist moron, spouting buzzwords like you expect me to be worried about your opinion.

 

[22lcidw]

Socialism is about equality and equal protection of the law.

When I was growing up socialism was about passing the bong around and sharing a table in the school cafeteria, because capitalism was working just fine in the 60's and 70's before Reaganomics.

we have a better understanding of economics, now; we know capitalism "died in 1929" and that socialism has been bailing out capitalism ever since. socialism is like Palmolive, you are "soaking in it".

The Federal Reserve did capitalism in by your words in 1929. I am not defending capitalism. But you are making socialism your god. The Federal Reserve caused the Depression. After the war the auto industry and the steel industry in a less way held our nation by its balls as the employees unions were just as bad as the owners of companies before it. The result is ghetto cities and communities and individuals who worked for those industries getting great checks and benefits living somewhere else. In most other cities the manufacturing slowly died.

 

[Wyatt earp]

In spite of the predictable cackling and giggling, it's a pretty good interview.

Andrew Yang wants Universal Basic Income because we are experiencing the greatest technological shift the world has ever seen. By 2015, automation had already destroyed four million manufacturing jobs, and the smartest people in the world now predict that a third of all working Americans will lose their job to automation in the next 12 years. Our current policies are not equipped to handle this crisis. Even our most forward-thinking politicians are unprepared.

As technology improves, workers will be able to stop doing the most dangerous, repetitive, and boring jobs. This should excite us, but if Americans have no source of income—no ability to pay for groceries, buy homes, save for education, or start families with confidence—then the future could be very dark. Our labor participation rate now is only 62.7% – lower than it has been in decades, with 1 out of 5 working-age men currently out of the workforce. This will get much worse as self-driving cars and other technologies come online.

Andrew’s version of UBI—funded by a simple Value Added Tax—would guarantee that all Americans benefit from automation, not just big companies. UBI would provide money to cover the basics for Americans while enabling us to look for a better job, start our own business, go back to school, take care of our loved ones or work towards our next opportunity.
https://www.yang2020.com/what-is-ubi/

You and the moron does know that it will do nothing right? Instead of Dollar tree we will now have $2 dollar trees.

 

[the other mike]

You and the moron does know that it will do nothing right? Instead of Dollar tree we will now have $2 dollar trees.

It will run payday loan swindlers out of business too.

 

[Wyatt earp]

You sound like a typical leftist moron, spouting buzzwords like you expect me to be worried about your opinion.

View attachment 254064

 

[Cecilie1200]

You and the moron does know that it will do nothing right? Instead of Dollar tree we will now have $2 dollar trees.

It will run payday loan swindlers out of business too.

FYI, just because YOU can't make good money management decisions and read the fine print doesn't make the people who loan you money and expect you to honor your agreement "swindlers".