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Vote me and get US$1,000 per month. WOW.

Posted in US / Dollar related

I am just referring to a news article in CNBC.com  Hopefully they did not publish some fake news. One American President aspirant says that if he is elected, Americans will get US$1,000 per month. Nope, not once per year. It’s every month and I think the period would be as long as he is the President, perhaps. Here’s that article in CNBC.com The person is an entreprenuer by the name of Andrew Yang. Yes, if he is the President, there will be many new firsts but first of all, this is what he promised: all citizens, ages 18-64, should get a check for US$1,000 every month, no strings attached, from the U.S. government. This is what he said of President Donald Trump, “People who think the antidote to Donald Trump is a boring generic This Democrat missed the point. He is a sign of massive institutional failure. On both sides.” 

This US$ 1,000 (RM3,893) payment is a universal basic income (UBI) payment, which Yang calls “the Freedom Dividend,” is one of his major policies. He says that the government has “plenty of resources, they’re just not being distributed to enough people right now.” In the article, it was said that Facebook CEO Mark Zuckerberg said something similar during a Harvard commencement speech, “Now it’s our time to define a new social contract for our generation. We should explore ideas like universal basic income to give everyone a cushion to try new things.”  He says that he is pledging US$1,000 because US$12,000 a year brings an individual close to the U.S. poverty line and will help in growing the economy. it will not make people lazy because, “It’s virtually impossible to do more than just survive on a thousand dollars a month around the country.”   Yang tells CNBC Make It. “It would make a huge difference for families, but it’s not a level that would lead one not to work.”

Yang shared that this UBI is necessary because of concerns that the automation will be replacing human workers in manufacturing and threatens jobs in retail, food service and preparation, customer service, transportation, insurance, accounting, medicine and law. Under his plans, the UBI payment would be funded by a “new tax on the companies that are benefiting most from automation.”  This tax, he explains, would be a value-added tax (VAT) of 10 percent on goods and services a company produces. He also argued that VAT is important because “because you cannot collect income tax from robots or software.” This new VAT can easily raise US$700-US$800 billion. (RM3,115 billion)  Beyond this US$1,000 Yang says that he is running for President because “I’m an entrepreneur … so you want to try and solve problems. The problem I saw was that we’re going to automate away millions of jobs … so then the question is how can you realistically solve for that?”

Good plans? Well, let’s see what happens in the near future.  Yang would still have to beat all other candidate aspirants from his party first. He’s a Democrat. (Democratic Party). President Donald Trump is a nominee from the Republican party. He had to beat many aspirants so that he could go into the ‘final battle’ versus Hillary Clinton (a Democrat) whom he eventually won. Past U.S President Barrack Obama is also a Democrat too. US$1,000 salvo has been fired. The next U.S Presidential election will be in 2020.

written on 16 April 2018

Next suggested article: Move aside American billionaires, the Chinese ones are now ahead

 

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One Comment

  1. warrick singh
    warrick singh

    love your articles
    empowering,informative,insightful albeit engaging
    keep the ink flowing charles
    well done
    cheers – warrick singh

    April 19, 2018
    |Reply

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