This 43-year-old running for president in 2020 wants to give everyone $1,000 a month in free cash
11:24 AM ET Wed, 11 April 2018
A universal basic income (UBI) payment, which Yang calls “the Freedom Dividend,” is one of his major policies.
It’s so easy when it’s other people’s money to give away. Too bad that you eventually run out of it.
I troll that Yang guy on TWTR w/ financial facts.
He has no brain, just another scammer offering “free bla bla for all.” Actually there is already this thing called dividends, however due to share concentration normal people aren’t getting them.
Well, not according to the financial “geniuses” here on AF.
yes but the idea that we are close to running out is preposterous. We have 100 trillion in net worth. also consider than our gdp is about 20 trillion. Our personal income alone in the US is about 15 trillion alone vs teh federal budget at only 5 trillion.
UBI under his definition costs only 1.5 trillion dollars, if we gave all 300m 12k, it would only cost 3.6 trillion. this 3.6 trillion would also lead to higher consumption.
the biggest con is if this is really the smartest use for our resources. i would argue no. it would certainly make it easier for most people to live. but imo, it will not generate the positive benefits he assumes. for the most part it will be a big boon for consumer products, etc. the best way to use money is to reward the people who provides the most value as oppose to helping everyone arbitrarily.
a big fan of the trickle down economy. poor people should not have money as they do not know how to use it to maximize its true value.
What’s your Twitter handle?
Yang came to Hong Kong to raise funds and his profile. I couldn’t resist so I donated some $ to hear him out. To be honest I liked him, much more to him than just UBI. An asian for president? Hell ya. As far as UBI goes, I have no idea, but some pretty smart people say there might be something to it – Bill Gates, Buffet Musk, Zuckerberg, Bezos, Butterfield, Branson… So maybe worth doing some work.