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Andrew Yang on Social Security

Democratic Presidential Challenger & Tech CEO

 


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

Disability creates a permanent shadow class of beneficiaries

The fund for disability insurance recently ran out and was combined with the greater Social Security fund, which itself is scheduled to run out of money in 2034.

We pretend that our economy is doing all right while millions of people give up and "get on the check." It's a $143 billion per year shock absorber for the unemployed or unemployable, whose ranks are growing all of the time. After one gets on disability, one enters a permanent shadow class of beneficiaries. Even if you start feeling better, you're not going to risk a lifetime of benefits for a tenuous job that could disappear at any moment.

Disability illustrates the challenges of mandating the government to administer such a large-scale program. It's essentially the worst of all worlds, as the truly disabled and needy may find themselves shut out by red tape, while the process rewards those who lawyer up and the lawyers themselves. It sends a pervasive message of "game the system and get money"

Source: The War on Normal People, by Andrew Yang, p.141-2 , Apr 2, 2019

Disability creates a permanent shadow class of beneficiaries

In 2013, 56% of prime-age men 25-54 who were not in the workforce reported receiving disability payments. We pretend that our economy is doing all right while millions of people give up and "get on the draw" or "get on the check." It's a $143 billion per year shock absorber for the unemployed or unemployable, whose ranks are growing all of the time. After one gets on disability, one enters a permanent shadow class of beneficiaries. Even if you start feeling better, you're not going to risk a lifetime of benefits for a tenuous job that could disappear at any moment.

Disability illustrates the challenges of mandating the government to administer such a large-scale program. It's essentially the worst of all worlds , as the truly disabled and needy may find themselves shut out by red tape, while the process rewards those who lawyer up and the lawyers themselves. It sends a pervasive message of "game the system and get money"

Source: The War on Normal People, by Andrew Yang, p.141-2 , Apr 2, 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 ,

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Other big-city mayors on Social Security: Andrew Yang on other issues:

Tom Barrett (D,Milwaukee)
Bill de Blasio (D,NYC)
Rahm Emanuel (D,Chicago)
Bob Filner (D,San Diego)
Steven Fulop (D,Jersey City)
Eric Garcetti (D,Los Angeles)
Mike Rawlings (D,Dallas)
Marty Walsh (D,Boston)

Former Mayors:
Rocky Anderson (I,Salt Lake City)
Tom Barrett (D,Milwaukee,WI)
Mike Bloomberg (I,New York City)
Cory Booker (D,Newark,NJ)
Jerry Brown (D,Oakland,CA)
Julian Castro (D,San Antonio,TX)
Rudy Giuliani (R,New York City)
Phil Gordon (D,Phoenix)
Tom Menino (D,Boston)
Dennis Kucinch (D,Cleveland,OH)
Michael Nutter (D,Philadelphia)
Sarah Palin (R,Wasilla,AK)
Annise Parker (D,Houston)
Jerry Sanders (R,San Diego)
Antonio Villaraigosa (D,Los Angeles)
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Page last updated: May 14, 2021