Presidential candidate Andrew Yang says taxes on tech companies could pay for $1,000 monthly payment to every American adult.
back in 2017, said that his proposal to provide every American adult with a $1,000 guaranteed monthly income is a plan to evolve the U.S. economy for the 21st century.elected in 2016," Yang told ABC News Chief Anchor George Stephanopoulos on "This Week" Sunday. "And to me the main driver of his victory was that we automated away 4 million manufacturing jobs in Michigan, Ohio, Pennsylvania, Wisconsin, the swing states he needed to win.
Born to immigrants from Taiwan in Schenectady, New York, Yang studied economics and political science at Brown University and went on to Columbia University's law school. After briefly working as a corporate lawyer, Yang became a small business owner and went on to work for a healthcare startup. Yang then ran a national education company that was eventually purchased. Yang took the earnings from the purchase and committed "to create jobs in cities hit hard by the financial crisis.
"Well this has been in place in one state, Alaska, for almost 40 years, where it's universal. Everyone in the state gets between $1,000 and $2,000 a year from oil money," Yang said. "And because it's oil money, there's no stigma attached, it's not a rich to poor transfer, and it's wildly popular in a conservative state."
"What we have to do is, we have to join every other advanced economy and have a value added tax that would fall on the Amazons of the world, and because our economy is now so vast at $20 trillion, up $5 trillion in the last 12 years, a value added tax at even half the European level would generate over $800 billion in new revenue."
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