Fun

$2K per Month for Every American: Andrew Yang Begs Congress to Pass Basic Income

News Feed - 2020-04-27 04:04:08

$2K per Month for Every American: Andrew Yang Begs Congress to Pass Basic Income


While most of the U.S. remains on lockdown, a few states across the nation are starting to open up businesses and lift restrictions. Meanwhile, politicians on the left have been trying to push a universal basic income (UBI) package through Congress, in order to give Americans in need a monthly check. This week, former U.S. Presidential candidate, Andrew Yang, got the #CongressPassUBI hashtag trending wildly on Twitter, as thousands of people tweeted the message.Andrew Yang Pushes for Basic Income – UBI Supporters Respond: ‘If UBI Doesn’t Pass We’ll Eat the Rich’


Universal basic income (UBI) has been trending on Twitter lately, as the former candidate Andrew Yang got his followers to push the discussion on social media. The hashtag #CongressPassUBI started trending on Friday and continued throughout the day on Saturday. UBI is essentially a monthly paycheck from the government as long as you meet certain criteria. The recent UBI plans submitted by Democrat politicians, involve anywhere between $1,000 to $5,000 a month depending on the proposal. During the first 30 minutes Yang tweeted about UBI, nearly 10,000 people tweeted in response. A few hours later, the tweets were well over 40,000 posts about the topic of UBI, all showcasing the hashtag #CongressPassUBI. One person’s meme asked if people didn’t want the mob to eat the rich and said that passing a UBI program would “lead to us not eating the rich.”Even if the lockdowns lifted tomorrow, the economic devastation will continue for years to come. We need to heal this country. We need to put money in regular Americans" hands, right now. #CongressPassUBI pic.twitter.com/vO6uSCCsfu


— James Treakle 🚀 (@JamesTreakle) April 24, 2020




Yang has been preaching about UBI for quite some time and the former candidate says the recent $1,200 per American checks are not enough. During a streaming video conversation, Yang told the host that he would like to see $2,000 a month payments sent to every American until Covid-19 ends. “When the house is on fire, you don’t worry that much about the water you’re using to put it out,” Yang stressed. “We have the equivalent of a $21 trillion fire on our hands, and we have to do everything we can to help people get through this.” Yang and many other U.S. politicians have been hooked on the economic concept called Modern Monetary Theory (MMT).




For instance, with the help of MMT advocate Rohan Grey, Michigan Democrat Rashida Tlaib introduced a bill that would give Americans $2,000 per month. On April 14, three Democrat leaders Ro Khanna, Bernie Sanders, and Tim Ryan proposed legislation that would give $2,000 to every American. The catch with that specific bill, notes that the program would last until the current unemployment levels in the U.S. subside to pre-coronavirus levels.Sound Money Advocates Say: ‘Forget Guaranteed Income — Governments Should Stop Destroying Income First’


However, most cryptocurrency supporters, gold bugs, and sound money advocates believe that UBI is a horrible plan that will keep unemployment levels the same and even make them rise. The biggest concern with UBI, from those who disagree with MMT, is that basic income would destroy the motivation to work and it could invoke millions of people to take advantage of the system.Jeff Deist is president of the Mises Institute, where he serves as a writer, public speaker, and advocate for property, markets, and civil society. Deist and many economists and analysts from Mises.org have written about the fraud behind basic income.


The cost to implement a $2,000 per month UBI plan would be around $3.9 trillion per year. This money would stem from the Federal Reserve’s unlimited money creation scheme. UBI would also cause inequality because it would be impossible to cover everyone and there will always be individuals or groups who miss out on redistribution plans. Mises.org author, Antony Sammeroff, explains that the system would trust the current leaders would do good, even though they have defrauded the populace so many times in the past.


“Most people agree that politics is a dirty game and that political powers will inevitably be used to further the agenda of officeholders and their cronies,” Sammeroff details. “That said, despite being immersed in the current thinking regarding UBI for three years now, I have seen precious little worrying as to what the government — or a future government — might actually do once it has seized control over everyone’s purse strings. After all, these governments are composed of the same people who launched a permanent war in the Middle East, wasting trillions of dollars on destroying millions of lives. These governments bailed out the banks from the public purse and gave themselves raises after telling the rest of the nation we had to tighten our belts.” The Mises author further writes:They have robbed the young of the opportunity to own a home by sending house prices through the roof and mean to leave them a nation in ruinous debt. They continue locking away huge numbers of people for decades for victimless crimes, leaving their children to be raised single-handed. They created an oligopoly of higher education provision forcing generations into student debt that cannot be defaulted on, and healthcare systems that are so restrictive that people must pay inordinate sums to get care or are otherwise forced onto government waiting lists so long that many of their conditions are chronic or untreatable before they are seen to.


In fact, the theories against UBI are astounding and there are many studies that show basic income would create even more wealth inequality and government corruption. Bitcoin advocates and free-market proponents believe that UBI is just another form of destructive Keynesian-styled communist idea. This is because UBI has stemmed from extreme left-leaning visionaries and the many experiments that have started derive from socialist regime-led countries. Mises author Lee Friday notes that people should “forget guaranteed income” and they should tell the “government to stop destroying income first.”Economist @dlacalle_IA explains the subterfuge of UBI. pic.twitter.com/Mk93YwDbCd


— Jeff Deist (@jeffdeist) March 24, 2018




Not only that, but all of the prior UBI tests have failed miserably; like the experiment in the Italian city of Livorno, Ontario, Canada’s UBI trial, Namibia’s UBI, the test in Finland, Fife and Glasgow’s UBI schemes, and Alaska’s permanent fund have been widely considered “unsuccessful.” Moreover, all of these UBI trials indicated how harmful basic income can be because these tests have strengthened the bureaucracy and streamlined corrupt central planning systems. Despite Andrew Yang’s best intentions, UBI just might be the bait to hook a great majority of people into believing communism works and make them forget it has killed millions upon millions worldwide.


What do you think about Andrew Yang pushing for UBI discussions on Twitter? Let us know in the comments below.Purse.io Returns: Company Reveals Crypto Marketplace "Is Here to Stay"NEWS | 57 mins agoBitcoin Car Finishes First in Virtual NASCAR Race Beating National Champion Kyle BuschNEWS | 9 hours agoTags in this storyAndrew Yang, austerity measures, Basic Income, big debt, Bitcoin, Censorship Resistance, Central Banks, Coronavirus, COVID-19, covid-19 outbreak, crypto, Cryptocurrency, economics, Economy, Finance, finland, higher taxes, Jeff Deist, Mises President, Mises.org, politicians, Taxes, UBI, Unconfiscatable Money, Universal Basic Income, US


Image Credits: Shutterstock, Pixabay, Wiki Commons, Natalie Fawn DanelishenPurchase Bitcoin without visiting a cryptocurrency exchange. Buy BTC and BCH here.Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.Read disclaimer Show comments

News Feed

Saudi Arabia Strengthens Bond With China by Joining SCO Bloc as Dialogue Partner
Saudi Arabia Strengthens Bond With China by Joining SCO Bloc as Dialogue Partner China’s relationship with Saudi Arabia is growing as the country’s Cabinet has agreed t
Securitize raises $47M in strategic funding led by BlackRock
Derek Andersen5 hours agoSecuritize raises $47M in strategic funding led by BlackRockCrypto firms Aptos Labs, Paxos and Circle also took part in the funding that bodes well for the future of real-world asset tokenization
Russian Social Media Giant Vkontakte Launches NFT Service
Russian Social Media Giant Vkontakte Launches NFT Service Russia’s largest social network, Vkontakte, has launched a feature allowing users to upload digital collectibles to the
Tom Mitchelhill7 hours agoBrazil’s Congress puts Binance CEO CZ in crosshairs for indictmentA congressional committee has recommended that Changpeng Zhao and three local Binance executives be indicted for fraud and oth
Ana Paula Pereira2 hours agoCrypto Biz: Coinbase-Circle re-alignment, Binance fiat hurdles, and USDC at ShopifyThis week"s Crypto Biz explores the latest on Binance"s global on-ramps and off-ramps, Coinbase-Circle re-ali
SEC breaks from past policy guidelines in Uniswap crackdown
Ana Paula Pereira6 hours agoSEC breaks from past policy guidelines in Uniswap crackdownThe U.S. SEC Wells notice against Uniswap raises questions about consistency in policy enforcement.11240 Total views9 Total sharesLis
Elon Musk Discusses Crypto Investing, Dogecoin Support, ‘Unresolved’ Twitter Issues, and Near-Term Recession
Elon Musk Discusses Crypto Investing, Dogecoin Support, "Unresolved" Twitter Issues, and Near-Term Recession Tesla and Spacex CEO Elon Musk has shared his views on a variety of top
PODCAST: Ikigai’s Travis Kling on Why Bitcoin Is a ‘Baby X-Man’
“Bitcoin is unequivocally a macro asset,” said Travis Kling, the former hedge funder and now founder and CIO of Ikigai Asset Management. “It is a fledgling macro asset,” Kli
Bitcoin Coinbase Premium Sinks To Lowest Since FTX Crash: Bottom In?
Este artículo también está disponible en español. Data shows the Bitcoin Coinbase Premium Index has witnessed a plunge to two-year lows recently. Here’s what this c
Crypto Security Firm Fireblocks Raises $30 Million in Series B Funding, Targets Global Expansion
Crypto Security Firm Fireblocks Raises $30 Million in Series B Funding, Targets Global Expansion Crypto security firm Fireblocks said Wednesday that it has raise
Virgin Galactic’s Chamath Palihapitiya: Bitcoin Could Go to $1 Million, Everybody Should Own Some
Virgin Galactic"s Chamath Palihapitiya: Bitcoin Could Go to $1 Million, Everybody Should Own Some Virgin Galactic Chairman Chamath Palihapitiya has shared his bitcoin investment
Southeast Asia’s Largest Bank DBS Unveils Plan to Expand Crypto Services in Hong Kong
Southeast Asia"s Largest Bank DBS Unveils Plan to Expand Crypto Services in Hong Kong DBS, the largest bank in Southeast Asia, has unveiled its plan to expand its crypto services i