The conversation covered Yang’s proposed ‘Freedom Dividend,’ the impact of automation on the economy, and beating Donald Trump.
“We’re the only advanced economy that does not have a value-added tax,” said Yang.
“If you have a value-added tax at even a modest level, because our economy is so vast at $20 trillion plus, a modest value-added tax generates about $800 billion in new revenue.” Yang disagrees that the UBI poses a threat to current social programs.
“To me, there really is no reason why in the richest country in the history of the world, we need to necessarily be making a tradeoff between making the economy more human for people at various stages and making sure Social Security doesn’t go bankrupt,” said Yang.
Yang doesn’t think the $12,000 would lower wages because, he said, “it’s harder to exploit workers that don’t need your job to subsist.” Yang also does not believe the Freedom Dividend is bad for politics or an unfair way to attract votes.
Yang thinks that new economy starts with UBI, which he said would lead to “an additional $20 million of consumer buying power here in Concord a month.” Yang thinks he can beat Trump by focusing on the economy.