What is Universal Basic Income (UBI)?

Universal basic income is a program where every citizen receives a flat monthly payment, regardless of whether they're working and earning an income or not.

Different programs outline who exactly receives the income—some state that all citizens would get it regardless of what they make, while other programs may only give it to those who fall below the poverty line.

In 1967, Martin Luther King Jr. said a guaranteed income would abolish poverty.

That means reducing income inequality as well.

Economist Milton Friedman proposed a negative income tax. The poor would receive a tax credit if their income fell below a minimum level. It would be equivalent to the tax payment for the families earning above the minimum level.

In 2018, Facebook co-founder Chris Hughes outlined his plan in his book "Fair Shot."

He argued that U.S. workers, students, and caregivers making $50,000 or less a year should receive a guaranteed income of $500 a month.

“Cash is the best thing you can do to improve health outcomes, education outcomes and lift people out of poverty,” Facebook founder Chris Hughes said.

Hughes’ guaranteed income plan is financed by taxes on the top 1%. It would work through a modernization of the earned income tax credit.

To Hughes, it's the only solution to an economy where “a small group of people are getting very, very wealthy while everyone else is struggling to make ends meet.” Hughes said automation and globalization have destroyed the employment market. It’s created a lot of part-time, contract, and temporary jobs. But those positions aren’t enough to provide a decent standard of living.

Sir Richard Branson said a guaranteed income is inevitable.

"Automation has fundamentally changed the structure of the U.S. economy", Elon Musk said.

The Freedom Dividend is a $1,000 a month payment just for you that all Americans will receive from the government with no strings attached!
The primary reason for implementing the freedom dividend is to serve as an efficient safety net in a time of economic uncertainty, and with the threat of mass unemployment in the near future due to automation.

The freedom dividend will be pegged to inflation, with the annual monthly payments increasing alongside inflation. However, the dividend cannot deflate (go under $1,000 a month) if US prices drop due to a recession.

Take a look at Andrew's Yang detailed proposal here.

What we will do with UBI.

"If elected, I pledge to introduce legislation that can be passed by the House, Senate and signed by law by the President in the first quarter of 2021 that will transparently funds and guarentees a Universal Basic Income (UBI) for the citizens of the United States of America, at a rate which covers basic human needs in an effort that is likely to eliminate poverty, and also building a robust national economy."