Andrew Yang's campaign is nothing more than an effort to impose a VAT tax on America.
He's premise is that we will arrive at a magical singularity, where everything will be free because robots will be doing all the work. People will not have jobs. Robots will pay the taxes. Therefore, we can tax every point of exchange through digital transactions. We will go from a world of scarcity to a world of free energy by 2021 and everyone can get $1000 of free money a month.
I'm stretching his point of view and holding it up to the light, so that you can see through it easier.
We will not in a world of free energy by 2021.
We will never run out of jobs to do by 2021.
Robots will never do everything for us by 2021.
None of his economic claims will be in place by 2021.
He is selling a world of fantasy that democrats are prone to buying into, just as, Republicans are prone to supporting "wars that will pay for themselves," as if war was an investment portfolio.
Whatever robots do, we'll do something else. That's the whole point of a robot. Humans shift to where there talent takes them.
The free $1000/month is just another liberal fantasy, a rusty hook for the masses, like communist gulags being a workers' paradise.
The above headline sounds good, but it is one of those cheap slights of hand.
In year 2000, the economy was $10 trillion. We have a $20 trillion economy today. The dollar is worth half its value of 2000. A 5 dollar minimum wage would be 10 dollars today.
So, these minimum wage hikes are not real increases in real wages.
In 2000, the NYS minimum wage about $5.15 and it is $11.80 outside of NYC today. NYC is a special case, where the minimum wage is about $2-3 more. The $15 minimum wage sounds cool and hasn't brought a "restaurant apocalypse," because it is just a wage racket matching inflation.
Who knows who makes or pays the minimum wage, but for entry level people it makes sense. After a few months, you start to get out of it. Or, you get a new job. Or, you are temporary hire, seasonal, or a teenager and you expect to come and go. If you are still living with your parents and going to school, that doesn't demand "a living wage."
Those who are looking for a living wage don't do minimum wage jobs.
The minimum wage is an issue of no importance to the vast majority of workers.
What will be the effect of giving $1000/mo to people to do nothing? The real value of wages will tank because the dollar will depreciate because money is flowing without labor productivity; and you will have to pay VAT taxes which is the real objective of "entrepreneur" Yang.
This will spell the mass pauperization of the working workforce.