Yesterday, I wrote a post highlighting the regressive effects of Andrew Yang’s UBI proposal, especially its impact on our poorest and most vulnerable. Yang promises to pay for his UBI (of just $1,000 per month–far lower than the living wage) with a combination of spending cuts and a regressive VAT, or national sales tax. Yang writes openly of fooling poor people into exchanging lucrative benefits with spending-restrictions for smaller lump sums: Andrew proposes funding UBI 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 […]
Full Post at benjaminstudebaker.com