Pod Save America 2020: Andrew Yang on the universal basic income and why he hates the penny
Jun 14, 2019
Andrew Yang, an entrepreneur and philanthropist who ran for president in 2020, dives into the necessity of universal basic income as automation disrupts traditional job markets. He shares his vision for implementing UBI through innovative funding strategies like value-added taxes. Yang also critiques the penny, advocating for its abolition due to economic inefficiencies. The discussion touches on protecting reproductive rights, modernizing antitrust laws, and navigating the political landscape with kindness, all while engaging in a thoughtful dialogue about America's future.
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Trucker Protest
- Andrew Yang shared a story about truckers protesting digital monitoring by driving slowly and disrupting traffic.
- He worries about potential escalated violence if automation displaces truckers without a safety net like UBI.
UBI vs. Welfare
- Andrew Yang's UBI plan doesn't add to existing welfare; recipients must choose.
- He argues this makes UBI politically palatable, avoiding resentment and administrative hurdles.
VAT and UBI
- Andrew Yang argues that while VATs are typically regressive, his plan offsets this.
- UBI funded by VAT would boost buying power for most Americans, making it progressive.