Andrew Yang in June Democratic candidates debate in Miami FL


On Tax Reform: Value-added tax would generate $800B taxes & $700B GDP

Q: Your signature policy is to give every adult $1,000 a month, no questions asked. That's like $3.2 trillion a year. How would you pay for that?

YANG: You have trillion-dollar companies like Amazon paying literally zero in taxes. If we had a value-added tax at even half the European level, it would generate over $800 billion in new revenue--it would be the trickle-up economy. We would spend the money and it would circulate through our regional economies, creating millions of jobs. We'd save money on things like incarceration & homelessness services. Just the value gains from having a stronger, healthier, mentally healthier population would increase GDP by $700 billion.

Q: You are saying $1,000 a month for everyone over 18, but a VAT so you can spend that $1,000 on VAT?

YANG: You still would be increasing the buying power of the bottom 94% of Americans. You have to spend a lot of money for a mild value-added tax to eat up $12,000.

Source: June Democratic Primary debate (second night in Miami) Jun 27, 2019

The above quotations are from NBC News, "Decision 2020," the Democratic candidates debate,
live from the Adrienne Arsht Performing Arts Center in Miami, Florida, June 26-27, 2019..
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Page last updated: Jul 10, 2019