Experts: ‘Math Guy’ Andrew Yang’s Calculations For Universal Basic Income Are Pretty Far Off

The Federalist | 8/29/2019 | Chrissy Clark
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Entrepreneur and Democratic presidential candidate Andrew Yang has taken us all by surprise with his growing fan base and tie-less debate attire. On social media, he’s coined phrases like #YangGang and created viral apparel that says “MATH.”

Even his stump speech features his iconic “MATH” phrase and apparel. He’s opened debates by saying, “the opposite of Donald Trump is an Asian guy who likes math.”

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Yang is also known for his Universal Basic Income (UBI) proposal. He calls it the “Freedom Dividend” because, according to him, that sounds less scary. What is UBI? Yang’s website explains it as such:

Every U.S. citizen over the age of 18 would receive $1,000 a month, regardless of income or employment status, free and clear. No jumping through hoops. Yes, this means you and everyone you know would receive a check for $1,000 a month every month starting in January 2021.

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Yang touts that he’s done the math to make sure UBI could be properly implemented in the United States, but experts say he got the math all wrong. John Cogan, a senior fellow at the Hoover Institution, says UBI would be an absolute disaster, both socially and fiscally.

Cogan claims that approximately 230 million adults would be eligible to receive the cash handout. It is important to note that to qualify for the UBI, you cannot be a recipient of any other welfare program. That includes, but is not limited to: Supplemental Nutrition Assistance Program (SNAP, or food stamps), Temporary Assistance for Needy Families (TANF), Supplemental Security Income (SSI), or Women, Infants, and Children (WIC).

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If all qualifying adults chose the cash handout of $1,000 instead of other welfare benefits, here’s what it would cost. At $1,000 per month, that’s a total of $12,000 per person, per year. Thus, $12,000 for 230 million people would cost $2.8 trillion.

“Expenditures on...
(Excerpt) Read more at: The Federalist
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