Watched Yang on CBS This Morning

[question everything]

Similar to Trump he is talking about "carnage." We meed candidates who offer optimism. No, not painting everything in pastel colors but with a promising view of the future. Yes, Reagan's "shining city on the hill." Or close enough.

He sees the main enemy as automation. Well, you cannot stop this. And if he has a plan on how to stop it I did not get it. Are you going to punish corporations - yes, these evil empires - that replace humans with robots? You cannot do this.

And the $1,000 a person a month. Not clear how he is going to get these funds. Another freebies supported by vague "taxing the rich." Several months ago I listened to a presentation with a similar theme and one of the proposed sources was: printing more money. I am not an economist but I think that Germany did this in the 20s.

One rosy picture: people who will get the money will put it back into circulations. If they are smart, they will save as much as they can.

Oh well..

[Sherman A1]

1. How would we pay for the Freedom Dividend?

It would be easier than you might think. Andrew proposes funding the Freedom Dividend 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 the Freedom Dividend 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 the Freedom Dividend because people already receiving benefits would have a choice but would be ineligible to receive the full $1,000 in addition to current benefits.

Additionally, 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. The Freedom Dividend 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.

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 $800 – 900 billion in new revenue from economic growth and activity.

4. Taxes on top earners and pollution. By removing the Social Security cap, implementing a financial transactions tax, and ending the favorable tax treatment for capital gains/carried interest, we can decrease financial speculation while also funding the Freedom Dividend. We can add to that a carbon fee that will be partially dedicated to funding the Freedom Dividend, making up the remaining balance required to cover the cost of this program.

https://www.yang2020.com/what-is-freedom-dividend-faq/

[question everything]

5. Thank you for the detailed explanation

Not sure about people realizing they will have a choice. This is logical thinking that, let's be honest, not many people are capable of doing. Remember when a senior yelled at Obama, who explained the ACA, that he did not want the government touching his Medicare payment?

Too many, yes, many of Trump supporters will scream the same way: don't touch my Disability checks. And I hope like hell that this time the scream will not be accompanied by a gun shot.

VAT, as you say, is used widely in Europe. I look at it as a form of sales tax and many will view it the same say and sales tax is considered regressive, as opposed to progressive income tax (mostly).

Glad that he wants to raise, or eliminate the cap on Social Security income. I have just wondered the other day whether any of the candidates is talking about it.

[Sherman A1]

8. I'm glad that you found it of use and hope that it explained a few of the points

The information is directly from his website policy page and I really had nothing to do with any of it beyond copy & paste. The VAT as I understand is to capture taxes from those companies who currently pay Zero in taxes (Amazon, Google, and alike) and one can think of it as regressive or one can think of it as finally a means to get them to pay their share for the benefits they receive from operating in this country. Certainly some of that will be passed along to consumers, but how much, hard to say.

As to folks making choices as to the Freedom Dividend or their current benefits (whatever they happen to be) I am sure most will figure out which one gives them the better deal and take that one. If they don't.... well, there is a certain level of personal responsibility that we all must bear in this world.

I first saw Yang on a C-Span program last Fall from a panel discussion at the Brooklyn Book Festival talking about workers and the coming changes in the workplace. I was immediately captivated by his ideas and what he had to say and how forward thinking he was. When I found he was a candidate for President, I knew I had my preference even if he was beyond a long shot. Simply what he said made sense to me. He is a numbers guy and seems to look at problems analytically looking for the answers that make sense rather than just redo that same old tired solutions that haven't worked and will not work in the future.

I encourage you to go to his website and scroll through the list of policy proposals listed.

[Sherman A1]

2. Yang Policy Proposals from his web page

ECONOMY/JOBS & LABOR

The Freedom Dividend

Human-Centered Capitalism

Improve the American Scorecard

Reduce Student Loan Burden

Implement Mandatory Paid Leave Policy

Right to Privacy/Abortion and Contraception

Carbon Fee and Dividend

Make it Easy for Americans to Move for Work

Value-Added Tax

Make it Easier to Save for Retirement

Promote Vocational Education

Zoning

Free Financial Counseling for All

Decrease Pre-Trial Cash Bail

Reduce Mass Incarceration

Paid Family Leave

Fight for Equal Pay

Legalize Marijuana

Provide Basic Banking Services through the Post Office

Prosperity Grants

Increase Assistance for Single Parents

File Income Taxes

Crypto/Digital Asset Regulation and Consumer Protection

Timing of Payments for Small Businesses

Ease the Transition to Self-Driving Vehicles

Capital Gain/Carried Interest Tax

Financial Transaction Tax

Data as a Property Right

Grid Modernization Race to the Top

End Bidding Wars for Corporate Relocation

Empowering MMA Fighters

The Penny Makes No Cents

Regulate AI and other Emerging Technologies

NCAA Should Pay Athletes

ENVIRONMENT

The Freedom Dividend

Improve the American Scorecard

Combat Climate Change

Preservation of Public Lands and Water

Reduce Wildfires

Carbon Fee and Dividend

Reduce Packaging Waste

Rebuild American Infrastructure

Nuclear Energy

Grid Modernization Race to the Top

The Penny Makes No Cents

DEMOCRACY/ GOVERNANCE

The Freedom Dividend

Improve the American Scorecard

Ranked Choice Voting

Democracy Dollars

12-Year Congressional Term Limits

Restoration of Voting Rights

Automatic Voter Registration

Make Washington, DC, a State

End Partisan Gerrymandering

Public Council of Advisors

Make Election Day a Holiday

18 Year Term Limit for Supreme Court Justices

Revive the Office of Technology Assessment

Relocate Federal Agencies

Reduce Mass Incarceration

Prevent Corruption in the Federal Government

Campaign Finance Reform

Make Puerto Rico a State

American Journalism Fellows

Closely Monitor Mental Health of White House Staff

Local Journalism Fund

Automatically Sunset Old Laws

Support the Revival of Earmarks

Tort Reform/Reasonableness Dismissals

Modernize Voting

Improving the Electoral College

Limit Bureaucracy in the Federal Workforce

Lower the Voting Age to 16

Media Fragmentation

Making Taxes Fun

Head of Culture and Ceremony

Regulate AI and other Emerging Technologies

CIVIL RIGHTS/CRIMINAL JUSTICE

The Freedom Dividend

Improve the American Scorecard

Net Neutrality

LGBTQ Rights

Right to Privacy/Abortion and Contraception

Restoration of Voting Rights

Decriminalize Opioids

Automatic Voter Registration

Make Washington, DC, a State

End Partisan Gerrymandering

Hold Pharmaceutical Companies Accountable

Make Election Day a Holiday

Fighting the Rise of White Nationalism and Extremism

Zoning

Decrease Pre-Trial Cash Bail

Reduce Mass Incarceration

Gun Safety

Pathway to Citizenship for Undocumented Immigrants

Support the DREAM Act

Fight for Equal Pay

Legalize Marijuana

Make Puerto Rico a State

Every Cop Gets a Camera

Data as a Property Right

Algorithmic Trading/Fraud

Economic Crime

Lower the Voting Age to 16

HEALTHCARE

The Freedom Dividend

Medicare for All

Improve the American Scorecard

Control the Cost of Prescription Drugs

Right to Privacy/Abortion and Contraception

Decriminalize Opioids

Hold Pharmaceutical Companies Accountable

Invest in America’s Mental Health

Opioid Crisis

Gun Safety

Fund Medical Technology Innovation

Fund Autism Intervention

Expand Access to Medical Experts

EDUCATION

The Freedom Dividend

Improve the American Scorecard

Reduce Student Loan Burden

Control the Cost of Higher Education

Make Community College Affordable for All

Early Childhood Education for All

Promote Vocational Education

Free Financial Counseling for All

Increase Teacher Salaries

Life-Skills Education in All High Schools

Expand Selective Schools

FAMILY/SOCIAL COHESION

The Freedom Dividend

Improve the American Scorecard

American Exchange Program

Implement Mandatory Paid Leave Policy

Early Childhood Education for All

American Mall Act

Paid Family Leave

Prosperity Grants

Increase Assistance for Single Parents

Free Marriage Counseling for All

Modern Time Banking

Support for the Arts

Reduce Harm to Children Caused by Smartphones

FOREIGN POLICY

Foreign Policy First Principles

Veteran Employment and Businesses

Ending Veteran Suicide

Every Vet Under a Roof Initiative

Controlled Substance Waivers for Veterans

Improving Veteran Health

Military Training: The Gold Standard

GI Bill Improvements

Reverse Boot Camp

Quantum Computing and Encryption Standards

Modernize Military Spending

Southern Border Security

Nuclear Launch Decisions

IMMIGRATION

Pathway to Citizenship for Undocumented Immigrants

Support the DREAM Act

Southern Border Security

Entice High-Skill Individuals

MISCELLANEOUS/FUN

The Freedom Dividend

Public Council of Advisors

Extend Daylight Saving Time All Year
I support Yang because he is policy oriented and in my opinion is thinking about 3 steps ahead of the rest of the candidates. The list of policy proposals is lengthly and well thought out. I find him both optimistic and realistic in the need for a major change in how we think of our total societal health not just our economic well being.

https://www.yang2020.com/policies/

Prevent Airlines from Removing Customers

File Income Taxes

Tort Reform/Reasonableness Dismissals

Data as a Property Right

The Penny Makes No Cents

Support for the Arts

Making Taxes Fun

Head of Culture and Ceremony

Robo-Calling Text Line

[RGTIndy]

3. What is vague about "taxing the rich"

Other than you don't want to do it?

[question everything]

6. How? Income, at what level and at what rate?

Taxing assets? More taxes on selling of high value assets? What rate?

I've recently read that some - Warren, I think - want to tax assets. These normally are taxed when sold, when gain is realized. Taxing assets can be unfair because they may be valued now at $250,000 - your house. But tomorrow the market will tumble and the house will be worth half as much. But you've already paid the taxes.

Then I read that they are talking about $20 million so I don't care..

[RGTIndy]

10. Oh my! So complicated!

Thanks, Milton Friedman, for looking out for the rich. Poor dears, they have a helluva time.

[GeorgeGist]

4. Reagan was a fantastic turd polisher.

No thanks.

[question everything]

7. And people loved him. Many still do

I have posted here before that voters elect a president with whom they can connect. I used to use the term "personable" until spouse pointed to the current occupant so I changed it to visceral.

We, Democrats, consider ourselves logical. We love to explain, to teach. We do not use empty slogans. Thus we had very earnest and sincere Dukakis, and Gore and Kerry and Hillary.

Obama is a different class, he is sincere and a bit pedantic but the way he, as a black man appealed to us was a once in a lifetime event. Well, let's hope we will love long enough to live it again.

Bill Clinton, of course, is MISTER personable.

[JI7]

9. i believe he wants to cut social programs. or something about people who take the ubi can't get

other benefits.

[thesquanderer]

11. re:"He sees the main enemy as automation...if he has a plan on how to stop it I did not get it."

The answer was in your next paragraph, the $1k/mo. UBI.

In short, I think the idea is, if automation (which impacts mostly lower paying jobs) means that there will be a lot of out-of-work unskilled/low-skilled labor, those people can still get $12k/year to be able to survive without working... and with their basic needs covered and not having to work, they would have the time to learn new skills, start a small business, etc.

[question everything]

12. But is this what they want?

Just stay home and collecting the money?

Just as the farmers are not satisfied with being paid for losing the Chinese market. This is their lives, they say.

I am sure that many of these working in manufacturing would rather have a decent job then just sit home and collect money.

[thesquanderer]

13. UBI does not prevent anyone from working if they want to.

But it gives them the freedom to experiment with pursuing other kinds of vocations if the jobs they are used to are largely being lost to automation.

[ecstatic]

14. One thing I like about Yang is his ability

to answer questions succinctly in 60 seconds or less. Maybe he can stick around as an advisor for the nominee. But, I also agree with what you said--he needs to lose the negative talking points.

[Gothmog]

15. Here is some interesting polling

Yang polls better against trump compared to sanders

Link to tweet