Democratic 2020 presidential candidate Andrew Yang on Monday reiterated his proposal to provide each American $1,000 in common fundamental earnings every month by taxing tech giants, equivalent to Amazon and Google.
Talking on MSNBC this morning, Yang mentioned the proposal with host Joe Scarborough. “It’s about 1.eight trillion a 12 months previous present bills,” he mentioned, earlier than identified that Amazon paid “zero” taxes final 12 months.
Yang added: “Amazon’s sucking up $20 billion in enterprise yearly, placing 30 p.c of American malls out of enterprise. We have to go a worth added tax that may get the American individuals a slice of each Amazon transaction, each Google search, each robotic truck mile.”
After taxing massive tech corporations, residents will then spend the cash they obtain of their native communities, which might stimulate the financial system and cut back the large prices of incarceration and poverty help applications, the Democratic candidate defined.
“That is the trickle-up financial system, not the trickle-down financial system,” he added.
Presidential candidate @AndrewYangVFA needs to provide each American $1,000 a month.
He says he'll pay for it by taxing @amazon
"It's about 1.eight trillion," he mentioned. "We have to go a worth added tax that may get the American individuals a slice of each Amazon transaction." pic.twitter.com/6lV1wox4Qq
— Washington Examiner (@dcexaminer) March 18, 2019
The proposed common fundamental earnings (UBI), which the Yang marketing campaign refers to as “The Freedom Dividend,” will give $1,000 per 30 days, or $12,000 annually, to each American grownup over the age of 18.
“That is impartial of 1’s work standing or every other issue,” Yang’s marketing campaign web site mentioned. “This could allow all People to pay their payments, educate themselves, begin companies, be extra artistic, keep wholesome, relocate for work, spend time with their kids, care for family members, and have an actual stake sooner or later.”
The presidential hopeful’s marketing campaign initiatives the UBI might completely increase the financial system by 12.56 to 13.10 p.c, the equal of $2.5 trillion by 2025, whereas additionally rising the labor power by 4.5 to 4.7 million individuals inside that timeframe.
Yang additionally pledged on Sunday to make “Tax Day a vacation.” Alongside a brief clip of a podcast look the place he talks concerning the problem, he entrepreneur advised his Twitter followers he needs to “enable residents to decide on the place 1% of their taxes go, and make it a celebration. Present a video of the place your cash goes and thanks. Residents need to be extra concerned and appreciated.”
Yang, who introduced his bid in late 2017, is a lawyer and businessman who additionally based the nonprofit Enterprise for America. A latest Monmouth College ballot discovered that solely round one p.c of Democratic major voters supported Yang, whereas 25 p.c of voters supported Bernie Sanders, 10 p.c backed Kamala Harris and eight p.c favored Elizabeth Warren.