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Andrew Yang on Social Security

 

 


Universal Basic Income recipients might lose other benefits

To receive UBI, citizens would have to choose between the $1,000 or any existing welfare benefits--potentially including Social Security, disability insurance, food stamps, and housing assistance. It's unclear whether Yang's UBI would be worth that trade-off for many low-income families. Yang's press secretary could not provide a "full list of programs.but health care is definitely not considered part of someone's current benefits when talking about the Freedom Dividend."
Source: Mother Jones magazine on 2020 Democratic primary , Apr 23, 2019

Optional automatic tax-free retirement investment vehicle

It's very hard to save for retirement years from now, and accounts seem very complex. Yet the earlier you start, the better off you'll be. We need to help Americans simplify their financial lives by making retirement savings self-activating. It's a lot easier to save money if it's automatically being done for you.
Source: 2020 presidential campaign website Yang2020.com , Mar 29, 2019

Fund Freedom Dividend payments with 10% VAT

Lifelong assured income would not be funded by payroll taxes; given that its purpose is to supplement labor income, it can't be financed by further taxing it. One potential revenue source is a national value-added tax (VAT). Yang has proposed funding a $1,000-a-month Freedom Dividend with a 10 percent VAT. Like any consumption tax, a VAT is regressive if it stands by itself but becomes progressive if all its revenue is recycled equally.
Source: The Nation magazine on 2020 presidential hopefuls ,

Other candidates on Social Security: Andrew Yang on other issues:
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Page last updated: Jun 24, 2019