I’ve decided to support a universal basic income for Americans, as supported by Andrew Yang (i.e., Freedom Dividend), Elon Musk, and many others, and I’ve agreed to the UBI Caucus pledge to introduce UBI legislation immediately in the 117th Congress.
Please see my new Campaign Promises page which will be regularly updated.
The U.S. economy has a gross domestic product of $20 trillion per year and a UBI of $1,000 per month per adult would cost $2.4 trillion per year. Present federal spending is approximately $4.6 trillion per year, and federal income is approximately $3.6 trillion per year. We have crazy, insane wealth stratification that has worsened with laws that favor wealthy individuals and corporations. It is time for a change and this, along with my support for universal healthcare and a Green New Deal, are all investments in the American people as well as the world economy and the earth. Unlike corporate welfare, corporate share buybacks, mergers and acquisitions, and other giveaways for the rich, a UBI actually goes back into the economy via consumer spending and improved welfare for the 99%, bringing in taxes at local, state, and federal levels as well as reducing homelessness, poverty, health issues, and other disadvantages.
The UBI will be accompanied with an increased focus on financial education and outcomes at the K–12 and higher education levels as well as among working adults, and coupled with regulations that prevent big banks like Wells Fargo, payday lenders, et cetera from ripping off Americans.