No. of Recommendations: 2
"re Yang's freedom dividend.
The dividend replaces social programs. All federal social programs would be eliminated such as food stamps. Of course social security, medicare & VA benefits remain as is. The people administering those eliminated programs are gone too.
Per income people will be paying income tax on their benefit.

Now additional taxes:
A 10 percent value added tax
0.1 percent, $50 billion per year financial transaction tax (FTT)
A $20 per ton carbon tax
Lifting the cap on Social Security contributions
Treating capital gains as ordinary income "

Likely that would send the economy into a tailspin. The stock markets would likely plummet as trading here ceased and stock markets moved overseas.

You'd have massive new fraud as people invent dependents and dig up old relatives (literally) to collect the $1000 per person giveaway. I suspect a lot of 'illegals' would be out of luck as the likely aren't in any system and don't want to be 'registered'.

There are 100 different handout programs from Indian Nations/reservations and education and healthcare......that's going to be a challenge.

Yeah, a 10% Value Added tax to boost consumption - NOT.....

and of course, we'd end the $250,000/$500,000 house sale exemption and everything would be taxed as 'regular income'. Hmmm.....

He'd probably go after 401Ks, IRAs and everything else, too.......all those trillions locked away.

And full inheritance tax starting at one dollar of , what, 55% or more?

t.
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