Andrew Yang on Basic income

“If we expand the notion of work, which is something that a universal basic income would help us do, it would begin to compensate parents and caregivers; it would begin to recognize different forms of work.”

“[A universal basic income] would be one of the greatest catalysts to entrepreneurship and creativity we have ever seen, and I've worked with hundreds of entrepreneurs over the years. We have to put more Americans in position to do work that they value intrinsically, instead of as a necessary means to survival.”

“The United States should provide an annual income of $12,000 for each American aged 18–64, with the amount indexed to increase with inflation. It would require a constitutional supermajority to modify or amend. ... The poverty line is currently $11,770. We would essentially be bringing all Americans to the poverty line and alleviate gross poverty.”

“Universal Basic Income is not socialism. It's capitalism where income doesn't start at zero. Markets and businesses function much better when people have money to spend. If we can all participate in the market, then markets become much better for all of us. What's bad for markets is when consumers don't have money to spend. So this is very pro-growth, pro-market, and pro-consumer. It's the next form of capitalism. It's the trickel up economy.”

“If you care about children, then [UBI] is the best way to make household and families stronger; if you care about women and economic empowerment, this is a way to make it so that women can walk away from abusive or exploitative employers; if you care about communities of color, they would benefit much more proportionally from a thousand dollars a month than other communities, because they have lower access to various jobs and opportunities. This is the way that we can reform society in a way that actually serves all of our goals, our collective goals. And at least one study showed that if you would alleviate child poverty, you would increase GDP by 700 billion dollars, because of better health outcomes, educational outcomes, higher worker productivity, better mental health... We have to start investing in our people, intrinsically.”

“We have to say "we are the citizens and owners and stakeholders of this society, we can vote ourselves a dividend, and it's up to us to build an economy that serves us, because right now fundamentally, this economy is not designed to serve human beings. It is designed to serve capital efficiency. And for a long time, that also served human beings, but increasingly it's going to be that having lots of humans working for a company is irrelevant, or even negative, for corporate success. And we can see this by the fact that 94% of the new jobs created since 2005 to 2015, were gig economy, temp and contractor jobs, because the employer said "you know what? I'd rather not have a full-time employee, I'd rather not pay health care benefits", and that's why so many Americans right now are in that position. So we have to start recognizing that the economy is changing for good, and that it's up to us, the citizens of this country, to rewrite the rules the economy to serve us. We have to make the market serve us, and not have us all be slaves the market, because the market is not going to care one whit about us increasingly over time.”