by Al Bloomfield
Thursday April 12, 2018
SCHENECTADY, USA – New York Democrat Andrew Yang, a successful entrepreneur, is planning to run for the Democratic nomination for president of the United States in 2020 on a platform of giving every American a universal basic income (UBI) payment he calls the “Freedom Dividend”. According to Mr. Yang on his campaign website, “The most direct and concrete way for the government to improve your life is to send you a check for $1,000 every month and let you spend it in whatever manner will benefit you the most.” To pay for this $2 trillion-dollar a year expenditure, Mr. Yang wishes to impose a national value-added tax, or VAT at a rate of 10% on goods and services produced by businesses.
Sources of information for this report included CNBC and FastCompany.com.
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