By Leada Gore Alabama Media Group, Birmingham
WWR Article Summary (tl;dr) If instituted across the country, Andrew Yang says the $1,000 payments would "provide a degree of recognition and compensation for all the work parents and caregivers do, particularly mothers, and it would help bring some equity across gender lines and racial lines."
Alabama Media Group, Birmingham
A Democratic presidential hopeful is making a unique campaign promise: a monthly check for all Americans.
Andrew Yang is vowing to pay every American citizen age 18 and older $1,000 a month if he's elected in 2020.
Yang has already tested the universal basic income idea, which he calls the "Freedom Dividend," with a $1,000 payment to a family in New Hampshire, CNBC reported.
He will personally pay the family the remainder of the $11,000 in monthly installments, Yang said.
To fund the national program, Yang would impose a value-added tax of 10 percent on the goods and services a company produces. The tax would generate between $500 billion and $1 trillion a year, which would fund the tax-free payments.
If instituted across the country, the $1,000 payments would "provide a degree of recognition and compensation for all the work parents and caregivers do, particularly mothers, and it would help bring some equity across gender lines and racial lines," Yang said.
It would also "provide money to cover the basics for Americans while enabling us to look for a better job, start our own business, go back to school, take care of our loved ones or work towards our next opportunity," he added.
A graduate of Columbia Law School, Yang was the CEO of Manhattan GMAT, a test-prep education company that was purchased by Kaplan in 2009. He currently runs Venture for America, a New York-based organization that trains entrepreneurs.