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.
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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