Meet Andrew Yang, the 44-year-old running for president who wants to give $1,000 free cash per month via CNBCMakeIt
div > div.group > p:first-child"> "I found that to be a major red flag about the direction of our country. I see him as an emblem to the accelerating disintegration of our way of life," Yang, 44, tells CNBC Make It from his New York City campaign headquarters in February.
Just above the"Math" sign in Yang's campaign headquarters, there is a printed sign with a quote from a New York Times article:"Andrew Yang is a longer-than-long shot for the White House." "I went to Brown University and Columbia for law school, was an attorney for five months before trying my hand as an entrepreneur. My first dot-com business flopped, but then I worked at a series of other companies." Yang later moved on to Manhattan GMAT and Venture for America.
However, assuming governments and companies take clear steps to"boost" job creation for the next 15 years, what McKinsey calls the"set-up" scenario, it estimates job displacement will roughly equal creation."The United States ... could also face significant workforce displacement from automation by 2030, but their projected future growth — and hence new job creation — is higher," the report says.
To pay for the $1,000-a-month cash handout, Yang proposes a 10 percent value-added tax on the production of goods or services a business produces. Eric Toder of the Washington, D.C.-based Tax Policy Center told CNBC Make It that in 2018 that 10 percent VAT in the United States could raise anywhere from $500 billion to $1 trillion, depending on how broadly the tax is applied.
Among other things, Yang proposes"human-centered capitalism," a way of structuring the economy which would be"geared towards maximizing human well-being and fulfillment" instead of corporate profits, Yang's campaign website says.
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