ANDREW YANG WILL LITERALLY GIVE EVERYBODY MONEY — LIKE ONECOIN DID

Andrew Yang, the entrepreneur-turned-politician, captivated the American public with his bold promise of Universal Basic Income (UBI), a plan he dubbed the ""Freedom Dividend."" The idea, giving every American adult $1,000 per month, sparked fervent debates, ranging from its economic feasibility to its potential societal impact. I m literally trying to give everybody money. Andrew Yang🧢⬆️🇺🇸 (@AndrewYang) Novem. And in some cases, the sender has clearly been joking. A 25-year-old product designer in New York named Andrew Yang, who also received a Venmo request for $1,000, noticed the requester had the word comedy in their usernameWhile some hailed it as a revolutionary solution to poverty and economic inequality in the face of increasing automation, others viewed it with skepticism, drawing comparisons to pyramid schemes and even outright scams like OneCoin. Yang s concept would mean that, for Facebook, Google, and its ilk, some of the money that they're making will be made more responsibly, per Yang. That s politician for top-lineIs Yang's vision a genuine attempt to alleviate financial hardship and empower citizens, or is it a flawed concept with potentially disastrous consequences, akin to the infamous cryptocurrency scam? Indeed, Yang s chance of becoming President, or even making it into the Democratic debates, is a stretch: A recent Monmouth University Poll showed only 1% of Democratic respondents selectingThe comparison to OneCoin, a Ponzi scheme masquerading as a cryptocurrency, highlights the crucial need to scrutinize the underlying mechanisms and long-term sustainability of any system promising ""free money."" This article delves into the complexities of Yang's UBI proposal, examining its strengths, weaknesses, and the validity of the OneCoin comparison, ultimately aiming to provide a comprehensive understanding of this controversial policy.

The Promise of the Freedom Dividend: Understanding Andrew Yang's UBI

Andrew Yang's Freedom Dividend was the cornerstone of his presidential campaign. Andrew Yang: The American Dream is dying by the numbers Democratic presidential candidate Andrew Yang teased that he would do something unprecedented during Thursday's debate, and he didThe central tenet was simple: provide every U.S. citizen over the age of 18 with $1,000 per month, regardless of their income or employment status. Bitcoin (BTC) proponents are criticizing United States presidential candidate Andrew Yang after he claimed he was literally trying to give everybody money. In an ongoing Twitter debate whichThis unconditional basic income aimed to address several pressing societal issues.

• Combating Poverty: Providing a safety net to ensure everyone can afford basic necessities.
• Adapting to Automation: Recognizing that automation is displacing workers and creating new economic anxieties.
• Empowering Individuals: Giving people the financial freedom to pursue education, start businesses, or contribute to their communities.
• Boosting the Economy: Injecting capital into the economy, leading to increased spending and job creation.

Yang argued that the Freedom Dividend wasn't just about alleviating poverty; it was about empowering individuals to adapt to the changing economic landscape and participate more fully in society. Yang s specific version of UBI was rightfully critiqued by many on the left, who saw it as tackling the back-end issues of poverty without actually pushing to dismantle the root capitalisticHe envisioned a future where people could pursue their passions and contribute their talents without the constant pressure of financial insecurity.

Is UBI a Ponzi Scheme Like OneCoin? Yang often boasts his cross-ideological appeal and ability to build an unusual coalition, but his campaign has also attracted support from white nationalists and the alt-right. I completelyAddressing the Concerns

The comparison of Yang's UBI to OneCoin, while seemingly hyperbolic, raises valid concerns about the sustainability and potential pitfalls of any system promising ""free money."" OneCoin lured investors with promises of astronomical returns, but it was ultimately a Ponzi scheme that collapsed, leaving countless victims financially ruined.The key differences, however, are significant.

OneCoin: A Classic Ponzi Scheme

OneCoin relied on recruiting new investors to pay off earlier investors.It had no legitimate underlying business or product.The value of OneCoin was entirely artificial and unsustainable.

Yang's UBI: A Government-Funded Program

Yang proposed funding the Freedom Dividend through a combination of sources:

• Value-Added Tax (VAT): A tax on the difference between the cost of goods sold and the cost of materials used to produce them.
• Existing Welfare Programs: Streamlining and consolidating existing programs.
• Economic Growth: Increased tax revenue from a stimulated economy.

While the funding mechanisms were debated and scrutinized, Yang's proposal relied on established government revenue streams, not on recruiting new participants like a Ponzi scheme.The comparison to OneCoin is therefore misleading, as it fails to acknowledge the fundamental differences in funding and structure.

Funding the Freedom Dividend: VAT, Welfare, and Economic Growth

The question of how to fund a UBI program of this scale is paramount.Yang proposed a multi-faceted approach:

Value-Added Tax (VAT)

A VAT is a consumption tax levied at each stage of production or distribution.It is common in many developed countries and could generate significant revenue for the government.However, critics argue that a VAT could disproportionately affect lower-income individuals.

Streamlining Welfare Programs

Yang suggested consolidating existing welfare programs to reduce administrative overhead and eliminate redundancies.Individuals receiving benefits from existing programs could choose between their current benefits or the Freedom Dividend.

Economic Growth and Increased Tax Revenue

Yang argued that the Freedom Dividend would stimulate the economy, leading to increased spending, job creation, and ultimately, higher tax revenue.This, in turn, would help offset the cost of the program.

The economic impact of UBI is a complex and debated topic.While some economists predict significant economic growth, others express concerns about inflation and potential disincentives to work.

The Potential Benefits of Universal Basic Income

Beyond simply providing a safety net, UBI proponents argue that it can offer a wide range of benefits to individuals and society as a whole.

• Improved Mental and Physical Health: Reduced stress and anxiety related to financial insecurity can lead to better health outcomes.
• Increased Entrepreneurship: Providing a cushion for individuals to take risks and start their own businesses.
• Enhanced Education and Skills Development: Allowing people to pursue education and training opportunities without the pressure of immediate financial needs.
• Stronger Communities: Empowering individuals to participate more fully in their communities and contribute to civic life.

For example, imagine a single mother working multiple part-time jobs just to make ends meet.With a guaranteed $1,000 per month, she might be able to reduce her work hours, spend more time with her children, or pursue further education to improve her long-term earning potential.

The Criticisms and Concerns Surrounding UBI

Despite the potential benefits, UBI faces significant criticism and concerns.

• Cost and Affordability: The sheer cost of providing UBI to every adult citizen is a major hurdle.
• Inflation: Injecting a large amount of money into the economy could lead to inflation, eroding the purchasing power of the UBI.
• Disincentive to Work: Some argue that UBI could discourage people from working, leading to a decline in productivity.
• Moral Hazard: Concerns that people might misuse the funds or become overly reliant on government assistance.

Critics also question whether UBI is the most efficient way to address poverty and inequality.Some argue that targeted programs, such as food stamps and housing assistance, are more effective at reaching those who need help the most.

Yang's Cross-Ideological Appeal and Controversial Supporters

One of Yang's strengths was his ability to attract support from across the political spectrum.He appealed to progressives with his UBI proposal and his focus on addressing economic inequality.He also resonated with conservatives who were concerned about the impact of automation and the decline of traditional industries.This cross-ideological appeal, however, also attracted some controversial supporters, including members of the alt-right.While Yang disavowed their support, it highlighted the complexities of building a broad coalition.

UBI and the Tech Giants: Holding Facebook and Google Accountable

Yang argued that UBI was a necessary response to the increasing concentration of wealth and power in the hands of tech giants like Facebook and Google.He believed that these companies were profiting from user data and automation, while contributing to job displacement and economic inequality.He proposed that a portion of the revenue generated by these companies should be used to fund UBI.

This raises important questions about the role of technology in society and the responsibility of tech companies to contribute to the common good.Yang's UBI proposal aimed to address the unintended consequences of technological advancements and ensure that the benefits of innovation are shared more equitably.

The Future of UBI: Beyond Andrew Yang

While Andrew Yang's presidential campaign may have ended, the debate over UBI continues.Several cities and countries around the world are experimenting with UBI programs, and the idea is gaining traction in academic and policy circles.The long-term feasibility and effectiveness of UBI remain to be seen, but it is clear that the concept has sparked a crucial conversation about the future of work, economic security, and social welfare.

The core questions that Andrew Yang brought to the forefront remain: How do we ensure economic opportunity and security in an age of increasing automation and technological disruption?How do we create a more just and equitable society where everyone has the chance to thrive?While the Freedom Dividend itself might not be the perfect solution, it has undeniably forced us to grapple with these critical challenges.

Conclusion: Is UBI a Visionary Idea or a Financial Fantasy?

The comparison of Andrew Yang's UBI proposal to OneCoin is a stark reminder of the importance of due diligence and critical thinking when evaluating any system promising financial benefits.While the two are fundamentally different in their structure and funding mechanisms, the OneCoin analogy serves as a cautionary tale about the potential for deception and financial ruin.Yang's UBI, on the other hand, is a complex policy proposal with the potential to address pressing societal issues, but it also faces significant challenges and criticisms.Ultimately, the question of whether UBI is a visionary idea or a financial fantasy depends on its implementation and its ability to achieve its intended goals without unintended consequences.

Key Takeaways:

• UBI aims to provide a basic income to all citizens, regardless of income or employment status.
• Yang proposed funding UBI through a VAT, streamlining welfare programs, and economic growth.
• UBI has the potential to reduce poverty, empower individuals, and stimulate the economy.
• UBI also faces concerns about cost, inflation, and disincentives to work.
• The comparison to OneCoin is misleading, as UBI is a government-funded program, not a Ponzi scheme.

As the debate over UBI continues, it is crucial to engage in informed and critical discussions about its potential benefits and risks.Only through careful consideration and rigorous analysis can we determine whether UBI is a viable solution for the challenges of the 21st century.