The Problem<\/strong><\/p>\n Yang, a successful entrepreneur, argues that we are undergoing the greatest technological and economic shift we\u2019ve ever experienced. Automation has already destroyed millions of manufacturing jobs. He cites a report<\/a> on artificial intelligence from the Obama White House that found that 83 percent of jobs making under $20 per hour, and 31 percent of jobs that earn $20-40 an hour, will come under pressure in the not-too-distant future.<\/p>\n Retraining low-skill workers who get left behind, a noble pursuit, is something the US has historically had a hard time with<\/a>. Intuitively, it seems unlikely that many middle-aged truck drivers displaced by self-driving cars will learn how to code or do anything of the sort. He even wrote a book<\/a> about these issues.<\/p>\n Yang\u2019s Solution<\/strong><\/p>\n Yang\u2019s UBI proposal is an unconditional, guaranteed check for $1,000 a month, or $12,000 a year, for all US citizens over the age of 18. He calls it the \u201cFreedom Dividend,\u201d because the United States is the richest country in the history of the world, and we all have a stake. He asserts that, while it is not a silver bullet, UBI would help us adapt to rapid economic change and give Americans a stronger baseline standard of living.<\/p>\n This proposal comes at a moment when Americans are arguing about the merits and definition of socialism. Yang asserts that \u201c\u2026this is not socialism; this is capitalism where income doesn\u2019t start at zero.\u201d Importantly, he cites studies that show that this would not discourage work<\/a>.<\/p>\n Of course, this is an expensive proposition (around $2-3 trillion a year!). Yang proposes 4 payment sources<\/a>.<\/p>\n Whether Yang\u2019s UBI proposal seems compelling, it has the potential to catch on in the Democratic primary. It will be interesting to see where candidates stand on this, especially in light of political realities. Even if you concede all of Yang\u2019s points, there is a legislative opportunity cost to bold legislation. Passage of this as the first priority of a new president could make it more difficult to pass meaningful legislation on climate change, healthcare, and other (expensive) things.<\/p>\n One last time, here is the link to Yang\u2019s full proposal<\/a>, in which several other works are cited.<\/p>\n Sooner rather than later Andrew Yang\u2019s main idea, Universal Basic Income (UBI), will enter the national discussion on some level. Yang has reached the 65,000-donor threshold to appear in debates later this year. As such, this bold proposal is one that major candidates may have to take positions on. Below are the main details of and arguments for his UBI proposal. This is not an endorsement of Andrew Yang 2020. The Problem Yang, a successful entrepreneur, argues that we are undergoing the greatest technological and economic shift we\u2019ve ever experienced. Automation has already destroyed millions of manufacturing jobs. He cites Continue reading A 2020 Presidential Candidate’s Proposal for Universal Basic Income<\/span>\n
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