“The size of our economy is now $19 trillion a year. It has grown by $4 trillion in the last 10 years alone. We can easily afford $1,000 a month per citizen,” he said.
“This would enable all Americans to pay their bills, educate themselves, start businesses, be more creative, stay healthy, relocate for work, spend time with their children, take care of loved ones, and have a real stake in the future,” Yang says on his campaign website.
For the program, Yang selected a family in Goffstown, New Hampshire, who he says will be receiving $12,000 in free cash for the year.
In an interview, Yang said his lack of legislative experience shouldn’t preclude him from running, especially in an age when Donald Trump, someone who has never been elected to public office, is the president of U.S.
Basic income is an increasingly popular concept, both on the left and right, and particularly in Silicon Valley. Hillary Clinton toyed with the idea in 2016 before rejecting it as overly idealistic. Bernie Sanders has talked approvingly of it. But Yang is the first to actually run on it. As a long-shot candidate, perhaps it’s easier to propose something that most formal politicians thinks is impossible. Paying $1,000 a month to every American would cost at least $2 trillion a year and the burden would be carried by everyone, not just the well-off.
To fund a larger-scale version of his plan that would cover all Americans, Yang told that he plans to impose value-added tax of 10 percent on the goods and services that a company produces once he is elected.
Yang told his grassroots campaign has raised “hundreds of thousands of dollars so far from thousands of donors nationally-with an average donations of only $11.