I am Andrew Yang, and I am running for President as a Democrat in 2020 because I fear for the future of our country. New technologies - robots, software, artificial intelligence- have already destroyed more than 4 million US jobs, and in the next 5-10 years, they will eliminate millions more. A third of all American workers are at risk of permanent unemployment. And this time, the jobs will not come back. I am not a career politician- I am an entrepreneur who understands the economy. It is clear to me, and to many of the nation's best job creators, that we need to make an unprecedented change, and we need to make it now. But the establishment is not willing to take the necessary bold steps. As President, my first priority will be to implement Universal Basic Income for every American over the age of 18: $1,000 a month, no strings attatched, paid for by a new tax on the companies benefiting from automation. Once I Understood the magnitude of this problem, and that even out most forward-thinking politicians were not going to take the necessary steps to stem the tide, I had no choice but to act. I am the father of two young boys. I know the country my sons will grow up in is going to be very different than the one I grew up in, and I want to look back at my life knowing I did everything in my power to create the kind of future our children deserve.
I was born in upstate New York in 1975. My parents both immigrated from Taiwan in the 1960's and met in grad school. My Das was a researcher at IBM. He Generated 69 patents over his career. My mom was the systems administrator at a local university. My brother and I grew up pretty nerdy. We also grew up believing in the American Dream- thats why my parents came here. I studied Economics and political science at Brown and went to law school at Columbia. After a brief stint as a corporate lawyer, I realized it wasn't for me. I launched a small company in the early days of the internet that didn't work out. Then, I worked for a healthcare startup where I learned how to build a business from more experienced entrepreneurs. In my thirties, I ran a national education company that grew to become #1 in the country. Thats when I met my wife Evylyn and got married. My education company was acquired and with Evelyn's support, I decided to take my earnings and commited myself to creating jobs in the cities most hit by the financial crisis. By that time, I understood the power of entrepreneurship to generate economic growth, so I founded Venture for America, and organization that helps entrepreneurs create jobs in cities like Baltimore, Detroit, Pittsburgh, and Cleveland.
Universal Basic Income Defined In the next 12 years, 1 out of 3 American workers is at risk of losing their jobs to new technologies. Unlike previous waves of automation, this time, new jobs will not appear as quickly in large enough numbers to make up for it. To avoid an unprecedented crisis, we are going to have to find a new solution, unlike anything we have done before. It all begins with Universal Basic Income for all American adults. Paying for UBI is easier than you might think.Andrew proposes consolidating some of the wellfare programs and implementing a Valu Added Tax of 10%. Current wellfare program beneficiaries would be given a choice between their current benefits or $1,000 cash unconditionally. You may be wondering what impact that would have on the economy. The Roosevelt Institute found that adopting a $12,000 basic income for every adult US citizen over 18 would permanently grow the economy by 12.56 to 13.10 percent- or about $2.5 trillion by 2025. It would also increase the labor force by 4.5-4.7 million people.
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