6/18/2023 0 Comments Andrew yang net worth![]() Current spending: We currently spend between $500 and $600 billion a year on welfare programs, food stamps, disability and the like. The means to pay for the basic income will come from four sources:ġ. 160 out of 193 countries in the world already have a Value Added Tax or something similar, including all of Europe which has an average VAT of 20 percent. It is a fair tax and it makes it much harder for large corporations, who are experts at hiding profits and income, to avoid paying their fair share. Current welfare and social program beneficiaries would be given a choice between their current benefits or $1,000 cash unconditionally – most would prefer cash with no restriction.Ī Value Added Tax (VAT) is a tax on the production of goods or services a business produces. ![]() Andrew proposes funding the Freedom Dividend by consolidating some welfare programs and implementing a Value Added Tax of 10 percent.
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