As reported by CNBC, “Some of the top contenders in the Democratic presidential primary have called for a wealth tax on America’s biggest earners. But entrepreneur Andrew Yang, whose profile in the primary race has risen in recent months, told CNBC’s John Harwood that the policy could be a “disaster in practice.”
“Sen. Elizabeth Warren, D-Mass., who is threatening the front-runner status of former Vice President Joe Biden, proposes a 2% annual tax on wealth of more than $50 million and a 3% tax on wealth over $1 billion. Sen. Bernie Sanders, I-Vt., a self-described democratic socialist, announced an even bigger tax on the rich in September.”
Upon reading Yang’s very sound and valid criticism of Warren and Sanders, I thought, finally a Democratic candidate who is in touch with reality.
But then I read this:
‘Yang’s campaign is built around a starkly different, though no less bold, plan to overhaul the economy: a so-called universal basic income in which all U.S. citizens receive $1,000 a month with “no strings attached.”’
“Universal basic income” that would give all U.S. citizens $1,000.00 a month… “with no strings attached”????
What is going on with these Dems? Do they think money grows on trees? Sadly, no. They just will take what they want from the rich and the middle class to fund their pet socialist giveaways.
Andrew, how dare you call your proposal a “freedom dividend”? It is simply a draconian measure to take money from those who have earned it and distribute it to those who have not.
In fact, Andrew, your policy is, just like those of Warren”s and Sanders’, also a “disaster in practice.”