Presidential candidate Andrew Yang explained his Freedom Dividend policy and slammed Bernie Sanders’ Federal Jobs Guarantee (FJG) as ineffective and impossible to implement.
Andrew Yang’s Freedom Dividend will create millions of jobs while allowing the free market to regulate the labour market, on the other hand, a federal jobs guarantee would create a bureaucracy in the government which will literally regulate the labour market similar to a socialist society.
A FJG would not recognize the work being done by parents, caregivers and many other important jobs, while the Freedom Dividend will ensure that the work being done and takes care of our children is being recognized.
Work should give real value to our society and economy, a Federal Jobs Guarantee would create useless job positions that would only exist so someone can pretend to “work to make a living”, while the Freedom Dividend will grow the economy by $2.5 trillion according to study.
“The three basic incomes proposed by the study were $1,000 paid monthly to every US adult; $500 paid monthly to every US adult; and $250 paid monthly to every US child. “For all three designs,” a summary of the report said, “enacting a UBI and paying for it by increasing the federal debt would grow the economy.”
Specifically, the study found that the largest of the three — $12,000 a year doled out to every American adult — would grow the economy by 12.6% to 13.1% over eight years, by which time the policy’s effects would start to wane. That would translate to an increase in gross domestic product of $2.5 trillion, according to data from the Congressional Budget Office.”, businessinsider.com reported.
The Freedom Dividend instead of giving 100% of the tax revenue to the government, would give a percentage of it directly to the citizens, while a job guarantee would only give better imaginary underemployment stats, a technique often used by socialist and authoritarian countries to show their “success”.
Universal Basic Income seems to be the best wealth redistribution option for a democracy, and Andrew Yang’s plan is just perfect for the United States.