Andrew Yang on Universal Basic Income and Why He’s Running On It For President | Op-Ed | NowThis
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Andrew Yang on Universal Basic Income and Why He’s Running On It For President | Op-Ed | NowThis


If enough Americans come together, raise
our hands, and say yes we want then we can make it happen
in 2021 and will be the first thing I do as president. Hello, I’m Andrew Yang and
I’m running for president to implement universal basic income in response to
this incredible transition we’re going through Universal basic income is a policy where
every citizen gets a certain amount of money every month regardless of their
work status or anything else going in their lives. Under my plan, every American
adult between 18 and 64 will receive free and clear, no
questions asked. Doesn’t matter if you’re working, not what your income is. One
thousand dollars We’re going through the greatest
technological and economic shift in our history and we need to accelerate our
society and government to keep pace with the challenges of 2020.
We’ve already automated away millions of manufacturing jobs and we’re about to do
the same thing to workers in retail, truck driving, call centers, fast food
restaurants, and on and on throughout the economy so this plan the $1,000 per
month plan was studied by the Roosevelt Institute which projected that it would
grow the economy by two and a half trillion dollars per year and would
create four and a half million new jobs. $12,000 a year is enough to push an
American up to just about the poverty line which is a little bit more than
$12,000 per year. So there’s like all of the the big ‘Oh it’s going to grow the
economy. It’s going to create millions of jobs. It’s going to create all of these
new businesses’ which it totally will. But I’m more excited about the fact that’s
going to help the single mother pay for their children’s food and education. It’s
going to help children grow up to become more conscientious and agreeable and
graduate from high school at higher levels. It’s going to help balance the
scales for women who do so much work that right now is not compensated; for
underrepresented minorities who don’t have access to the same opportunities
and have less savings. The way the freedom dividend, which is what I call
universal basic income. The way the freedom dividend is funded is through a
new tax that will fall on the companies that are benefiting most from automation.
So we need to shift to a value-added tax that would fall on companies like Amazon
and the robot trucking companies where value-added tax every other
industrialized country in the world except for the US has a value-added tax
and through a value-added tax at half the European level, we could pay for a
universal basic income of $1,000 per month for all Americans. A universal
basic income will be the greatest catalyst to entrepreneurship, and
creativity, and the arts that we have ever seen because when Americans have
their heads up and can think about the future, they’ll be
thinking about the businesses they want to start, the organizations they want to
create, and really what they want to see in the world. So right now many many
Americans have a mindset of scarcity which is that we don’t have enough;
there’s not enough to go around; we can’t afford it. But the truth is we are the
richest and most advanced society in the history of the world. Our economy is up
to $19 trillion in size, up four trillion in the last ten years alone. We
can easily afford $1,000 per adult, per month. This is the great
equalizer of our time. Economic justice is social justice. There is no social
justice without leveling the playing field in terms of how much money we get
as Americans to be able to pay for our basic needs.

100 Comments

  • Tiny Net

    I can tell you one of the only problems Andrew Yang will have is the fact that even with the people backing Andrew Yang our government and the people we have elected have for far too long been under-minding us as American of this country. How can we benefit our own pockets while keeping control of that money flow. That is all politics has become in this country corrupt. So take a stand voice this and be proud of hearing these things from people because our government would rather see average people like us struggle and does nothing about it. Raise taxes. That's how we solve problem. Bunch of hypocrites.

  • Randy Entwistle

    More like Why is the mainstream media ignoring Bernie?! Bernie has been fighting for us for 40 years .
    I’m not backing kamal, warren, or yang, but the man who has been fighting for these progressive ideas before it was mainstream

  • MexicanosDelMundo

    Interesting how this channel covers Andrew Yang – which is great, but not Tulsi Gabbard. Feels like a sort of Vox 2.0. Tulsi is policywise, the second best behind Bernie

  • Steve Taxpayer

    Nothing more would drive down US productivity that universal basic income and in turn, nothing more would cause so much economic hardship.

  • J Mack

    Ah, not to throw a logical wrench into this proposal, but did anyone stop to calculate the amount of money involved here and how it will probably fail due to under funding? If you calculate this out, say 250 million US citizens (adults 18-64) receiving handout money of $12,000 each equals $3 trillion. It is a head shaker.

  • Yeet the Wheat

    I don’t agree with his policy, though he seems like a cool guy. Humans are selfish, and there competition over money will push us to further advancements.

  • Walter Chin

    Wow. Yang is the only candidate has a list of things must do if elected president. The other candidates are just talking heads with zero idea as to how revitalize America's sagging economy.

  • 4malulz

    Doesn't inflation cripple this ideal? It definitely has unseen repercussions. Do I get it if I'm incarcerated? When can they disqualify me? Oh, they want your land, you're disqualified, and you have to compete against govt. subsidies for everyone else? How much power over your own life are you willing to relinquish to this type of system? Please think about it fully before just jumping aboard. Sounds nice on it's surface though…

  • Harris Syed

    Man just one year later in 2019, Yang is now a real serious contender for President of the United States. Yang is hitting all the right notes here.

  • MrSpectaman

    This gives more to those who have, extra thousand to millionaires but makes social security people opt out to get less, a terrible idea that will be roundly rejected. When Nixon floated the idea of guaranteed income around 1971 he mentioned giving everyone 25 k which , adjusted for inflation, would be 150k today.

  • Ally yu

    He talks sense. What's weird is that a lot of countries with much smaller economies than the US already have these basic supply side policies like free health care and universal basic income, which were implemented way back… unlike the US, despite being the most powerful economy in the world.

  • evansste

    Since everyone seems to be giving their opinion, I'll give mine.

    I think this UBI idea is a terrible idea, for a few reasons. The biggest reason isn't the cost, as most people worry about, it's the concept. For me, it's simple. The role of government isn't to pay the bills of its citizens.

    So Yang crunched the numbers and proposes that giving each American adult $1000 per month is more cost effective than the status quo. What this tells me is that the status quo is terrible; not that $1000 per month is a good idea. It tells me that entitlement programs have gotten completely out-of-hand, and that we'd be better off giving each person $1000 per month. The solution isn't to give the $1000/month handout, but to get rid of more instances where the government pays the bills of its citizens. After all, citizens pay taxes so that a government can operate. We don't pay taxes so that the government can pay our bills.

    I also believe that Yang is too confident in mathematical models. Rather than say "This will produce …", he should say "This SHOULD produce …". Just because you give someone $1000, that doesn't necessarily mean they'll spend it wisely. It's great for the person who is trying to start a business. However, without that $1000, that same person would still get their money. It would simply be acquired by their own drive and initiative, like getting a loan for their startup. The worst case scenario is that the person uses the money in the most foolish way possible; like buying illegal drugs, which would fuel self-decline. That second result actually hurts the country.

    Standard, basic capitalism makes more sense than UBI because it rewards the wise and productive members of society without rewarding the foolish.

    Yang may be right that automation is changing the economic/jobs landscape. But I don't believe that handouts are the answer. We no longer use human beings to pick cotton. Machines do it for us, and humans have moved on to doing other kinds of work. I believe the same will happen with these coming technological revolutions. 100 years ago, we didn't have computer programmers, as a viable occupation. That changed as technology changed. I believe the new changes will be no different. We just haven't seen it yet, so we don't exactly know what it'll look like.

    In any case, I don't think it's the government's job to think for its citizens. Maybe that's an ingredient that's missing from the mathematical model he used in order to calculate the $1000 handout. Did the government force us to now have computer programmers in this day and age? No. That was largely the result of common capitalism. The change was natural, and such changes still take place today. Nowadays, nearly everyone owns a cell phone and has access to GPS technology. As a result, we have Uber drivers — which never existed before these technologies came along.

    I think the more sensible approach would be to phase out these programs, like food stamps. This is because it goes back to that basic philosophy of citizens paying the bills of its government, not the other way around. Why should we pay to be paid? It doesn't make sense.

    Furthermore, I believe Huckabee's idea, concerning taxes, is a good one. While running for president he proposed getting rid of income taxes, and implementing a national sales tax, or consumption tax, instead. That way, everyone pays their taxes, and no one cheats, or gets behind, on paying them. It's also a much simpler system, which would save the government money, because it wouldn't employ the IRS. It would also save citizens time, since we wouldn't have to file each year.

    I'll get off my soap box now. I just felt the need to respond, since everyone else is. But I primarily wanted to point out why this Universal Basic Income idea, is bad to its core.

  • pangman77

    YES to measuring the economy using metrics other than GDP, but NO to UBI! Capitalist business owners will increase prices to the point that consumers will barely feel the effect of $1,000/mo. Rent prices, auto payments, utility bills, grocery bills, and everything else will go sky high when business realize just how much they will be able to raise prices. All of a sudden, the buying power our hard-earned savings (and future Social Security checks) will be CUT IN HALF IN THE COURSE OF A FEW YEARS! This may help the unemployed and poor in the short run, and it will definitely help the rich in the long run (those who sell the goods, own the assets, and have the ability to raise prices), but it will absolutely destroy the middle class. NO TO UBI!!!

  • UndertaleSkeleBros

    Except the issue is that there are allot of people who won't use the money how you would want it to be used

  • starlite556

    He is saying I'll  give you money if you vote for me. Never trust a scumbag snake like that.  He never says for how long you will get that money.  He never says that it will go up to keep up with inflation  or that they won't  tax it.

  • My Dream is 100.000 Subs No Video

    It's not gonna work 1000 dollar per month for every citizens. Because If engineers, pilots, doctors get 1000 they won't work. I won't work too and get 1000 dollar, it would be fine. Field like computer science, engineering, science,.. requires a lot of work and using brain. I don't think it's a good idea, the real communism and socialism doesn't work. China is totalitarian regime with capitalism.

  • Hayan Imadi

    If these ideas make you ask questions, those are welcome! It's not uncomplicated. But don't reject it because you don't understand it!

  • Gritty

    You would have to be so low in IQ to not recognize that this is the only guy the makes sense as president in a rapidly shifting economy.

  • The Meerkat

    1k a month will be enough for some one to get rent anywhere as long as they have a part time job as well. This could literally fix homelessness. The housing market will go up too.

  • bob baran

    I would like to invite you to a political party. It is called the Considerate party, and we need your help. If you have an Idea…lets Consider It

  • OTIS USSERY

    On its face it makes sense"
    Because most of that money would be spent thus go back into the economy and further benefit us all collectively"
    But it does seem to be a Socialist – Communist Ideal…"

  • D Lll

    I want a UBI of 10,000 per person per week. Why are you racists trying to keep me poor? I also need free food, free car, free cell phone, free college, guaranteed no show job.

  • JAS

    Would you provide $1,000 for all AMERICAN adults (like Germany does for it's citizens), OR would you provide it for all adults residing in America (like Denmark has done, which has decimated their economy)? Similarly, would you provide Medicare for all citizens, or everyone residing in America – whether they're a US citizen or not?

  • Verum Crepitus

    Mr. Yang has my complete support as long as he remains the only person running who is not an absolute lying narcissist (POTUS) to at least acknowledge that identity politics "is a very poor way to approach winning national elections, and it's a very poor way to bring our country together". While this is in my opinion a huge underestimation of the harmful role that identity politics is and will increasingly continue to play in our society, he has done more to denounce it than anyone else as far as I'm aware, as minimal as it may have been (unless this is a recent trend/realization amongst the Democrats… which I doubt). I have been looking for a candidate willing to acknowledge the fact that it is truly a virtue to aspire to the great Martin Luther King Jr's goal of judging people by the content of their character not the color of their skin. It deeply saddens me to realize that this is seemingly entirely lacking in the Democratic party. And I am by no means under the impression that doctor Kings goal has come to fruition, however, in my lifetime I have seen a definite move towards his goals, until recently. Plus despite the fact that I have despised the idea of trump as president since he first mentioned running over a decade ago, I would feel like I am wasting my vote (in more ways than one) by voting for a candidate who claims that the vast majority of the constituency is racist regardless as to whether or not they actually pass any judgment based upon race.

  • MerK Legend

    Smart man. I think he has a longer term solution that hes not yet telling us – Eventually, when millions of Americans get that $1000, a lot of people are going to be buying into certain markets (shoes, brand clothing) and this would result in the demand for them skyrocketing and prices eventually increasing due to actual resource scarcity.

    A good hypothetical example based on logic is that if 5 million Americans want a $1000 watch as of this moment and only 100,000 can actually afford it – when you give the rest of them that dividend – eventually the materials to make that watch and the time put into it becomes increasingly more valuable as it should as Demand rises and Supply falls – therefore, resulting in higher prices to remain in business.

  • player2030

    Andrew: here is 1k Mr homeless person. Please go spend it on food, education or invest it
    Homeless person: yeah right. I'm gonna go and overdose to end this miserable life.

  • Mitchell Baker

    Speaking of raising our hands, Yang put his up with everyone else to give Universal Healthcare to illegals, including the millions more that will come for exactly that.

    In all likelihood he'd give his UBI payments to them too. Does anyone believe the Democrat base would accept anything less?

  • Jeff Greenwade

    Andrew Yang 2020! The Freedom Dividend is progressive because it helps the poor, and it's conservative because it empowers individuals and essentially puts the government's budget in the hands of the people. Yang is the only candidate informed on AI and automation.

  • Relax Music

    you can think of this as a better tax return
    The Tax on your life, that the government has to pay to you.
    Yang2020 all the way.
    Now for all your suffering, hard work and just being a good ol' American, you get $1000 dollars, come people.

  • Justino Rupard

    He does realize that the only free market is online. If he targets that, capitalists will not be happy. I feel scared for him, but do as you please. You have a great idea, but it’s idealistic more than realistic; but it’s still possible. Your issue is population growth, and the faster process of automation. You do know with more spending comes more pollution, come more inflation from borrowing, and less resources for sustainability. Look forward, scarcity is going to occur at a fast rate. Furthermore, and you’ll lead people to other countries for online imports rather than the domestic market. You’ll deplete federal funding for other resources,and federal wage, while enslaving the working society of America to pay out everyone; including the rich. You’ll promote more illegal activity, and combine two classes together so that only poor and rich exist. Good going genius, you’re fooling everyone. You are inept you believe this will work.

  • Jim Brauer

    YANG 2020 / FREEDOM DIVIDEND / M4A / Humanity First / Abundance Mindset / $1,000 per mo per adult / Solution to POVERTY = CASH in the hands of Parents and Teachers !!! YANG = YES !!!   TRICKLE UP ECONOMY     JULY 31 DEBATE

  • lorewalker cho

    There is about 300 million americans i believe how are you going to pay all of them a $1000 a month. You claim to know economics it seems like you know nothing. I just did the math with 327 million americans and paying them $1,000 for 1 year is $3,924,000,000,000 so where are you going to get this money

  • Alex Skerrett

    What about those on disability do they still get their Social Sercurity? I'll lose mine if he gives me 1000 dollars. Then I'm wosrt off then if that never happens.

  • CDXX

    $1000 a month to everyone? — that's $330 Trillion a month. — that's $3.96 Quadrillion a year.
    If you want America to be the poorest country in the world, (which it already almost is because of the debt) then vote for this moron.

  • truthseeker

    It's not about the money, it's about putting every American on the Government dole. Once they start "giving" everyone something, once everyone in the country is under the Government's thumb, then the Government will have the right to dictate everything you think, say and do. Bingo. Chinese Communism. Keep your $1000 Yang!

  • TRI HARD

    ANDREWS YANGS universal income, we are trillions in debt, handling out 1k a month>????? how can you give more than 100,000 families 12k a year???? and he said ALLL americans aka in the millions, huge debt deficit

  • Skadi Skadi

    Now This News, we need to post a correction to the video. Andrew Yangs UBI is for adults ages 18 and over who are citizens of the United States of America.

  • That 70's feel gb . Sound

    Has God heard are cry's ? While the wealthy relax in there spa's I stand in a narrow dangerous old cold warm shower after decades of social and financial rejection . You rich and spoiled a-s holes are going to pay for what you have done to me . gb* ~ hard life (MULDEW)

  • schaughtful

    Yangs spiel is so illogical:
    -Automation is knocking people from the middle class to the lower class by destroying jobs.
    -So his plan is to increase aid to those who did not lose their job due to automation, and decrease aid to those who did lose their job due to automation.

    Elaboration;
    He wants to reduce the size of the social safety net. See hisis Dave Rubin interview; he wants to force people to choose either the ubi OR other existing programs. Then to gradually do away with those other programs. This means the net social aid for those who need it the most will at best be unchanged and at worse decrease.
    Then he also wants to increase taxes on those on those who can least afford to pay them. The end result of the VAT hits the downtrodden the hardest as the additional costs are passed to the end consumer (see examples in Europe).

    His overal pitch is that we need to increase social aid, but not for those who need it most.

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