Proof That Universal Basic income DOESN'T Work - Patrick Bet-David vs. Andrew Yang

Patrick Bet-David Podcast Episode 144. In this short clip, Andrew Yang discusses Universal Basic income.
Watch the full podcast: • PBD Podcast | EP 144 |...
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[@ianstambaugh6158]

Great "proof"...you really got him. 😑 I don't even care which side of this debate someone is on...this was just click-bait/wasted time.

[@johnbrooke6867]

Exactly! Relief checks during a pandemic should not be considered UBI. There was no real discussion here of anything and I feel sorry for Andrew Yang having to suffer morons like this. The look on his face of complete and utter disappointment at the framing of this question speaks volumes to those of us who even know who he is. Andrew Yang still believes in UBI and Patrick Bet-David is still trying to get his high school diploma. That's all I learned from this.

[@JoshuaCutsya]

Not to mention he claims "we" got two years of it. Really? Straight lies. 300 a monthly for about 5 months. And a one time $1400. Come on. Show us what you're talking about Pat. There is not substance to your claim. Makes you sound like a liar.

[@danhworth100]

Haha

[@megazine]

Click bait for sure. Pat was being dishonest. Biased

[@tet2755]

It's a legitimate question and one that deserves an argument. Credit to PBD for framing the question respectfully and letting Yang defend without interruption. PBD tactically brought up the Herman Cain 9-9-9 idea because he wanted to lead with a conservative idea that he initially supported, only to doubt later. It was a polite way to probe Yang for the potential danger of being wrong given the evidence we've seen regarding "stimulus" checks. Yang made some good points and wasn't put off in the least by the question. No idea is above scrutiny. Especially one that would represent a radical change to the economy and political order. If it's really a great idea, then it should stand up to inquiry.

[@mcphersong5528]

The more power you give to the gov the worse it gets

[@Nemo-un5rr]

This is correct. So many people are unaware of this fact.

[@neroresurrected]

I agree, and now all the lefties out here STILL defending this guy after what we all have seen with respect to stimulus/UBI like policy. Some people are unaware, most others are just “stupid” and remember we all know you can’t fix “stupid”.

[@micperez819]

"Give" ? Lol None of us gave the government power, they have the power by default

[@FazeParticles]

people are literally giving more power to the gov to get money back. it's going to happen.

[@wasdwasdedsf]

which is why youshould scrap wellfare and the rest of it... and if the people really want some sort of safety net for at least once ther ewill soon be a big shrinkage of work otu there, a ubi to limit human suffering among the poor with extremely limited beurucracy behind such a system and thus no corruption slippage going to enormous waste every year, theres no reason why that wouldnt be a good idea

[@athomemamma]

When a parent stays home with their child rather than sending them out to be raised by others- definitely a win!!

[@balsamicman9114]

Sounds good , but what if their parents is a dumbass selfish degenerate scammer narcissist then that’s a terrible idea enabling a loser to keep their kids under lock and guy Everyone in American has a real fake “ do good ist” parents of a best friend. Stop forcing dudes to pay for single moms to live in ghetto welfare “luxury” Have women sign prenups and stop gaveling any, ANY, LEGAL RECORSE FOR DADS TO BE FORCED BY THREAT OF JAIL OR POVERTY THRU FINES AND WAGE GARNISHMENT Whatch how much better colleges and communitys ans citys get :)))

[@caseyporter499]

Yeah one problem is tho is that for 8 hrs a day 5 days a week the school has them and 16 hrs a day 7 days a week the parents have them and a lot of parents don’t teach the kids anything and they still whine lol, the other problem is the concept of “quality time” a lot of ppl desire to have their kids all the time and work less and when they’re with the kids they watch tv or the kids spend the entire time in their room etc.

[@colinbrazier8836]

@@caseyporter499 true my son is one of maybe 2 or 3 in his class, who are 9 by the way who don't have a phone . He has game time or tv time and it's downstairs were he is not locked away upstairs , what he told me is that nearly all the kids in his class are upstairs the minute they get home from school locked away in the bedroom.

[@pretary1845]

@@colinbrazier8836 9?? I understand buying your child a phone... I WOULD.. I'd certainly buy one of those Child Phones that can only call you, etc. as soon they could work it tbh.... And later, I WOULD def be open to buying a flip-phone for my 9 year old. I lived in the era of no phones.... I stood and waited for my parents to pick me up from (X) Practice... I remember a time where I wanted to call my parents and simply DID NOT have access to a regular phone to borrow... So I get buying your kid a PHONE.. But a SMARTPHONE?? People buy their 9 year olds iPhone 13s?? So they can start shooting GREAT PHOTOGRAPHY?? So they can learn a NEW LANGUAGE with an app? No, they're going to be on TikTok, they're going to have their faces stuffed into those things 24/7 and you are LITERALLY, and this is proven- You're literally GIVING your child Attention Deficit issues when they may have NEVER had them at all... A GENERATION of people with self-induced ADD. So while I lived in an era that had no cell phones, I ALSO was probably one of the last gens to have a full childhood that never included the internet.. Never included Smart Phones.. My friends and I would quite literally have to go play outside and think of things to do OURSELVES... We had to have imagination and be creative.. We didn't HAVE things to just constantly consume, consume, consume.. I NEVER would have touched Legos and built something random if I could just pull up KZbin on a Tablet, or play from an unlimited selection of Kid Friendly mobile games. Or... You get my point. There are producers and consumers, and you should be a healthy dose of both... You can binge Netflix, but also be a musician let's say... SOMETHING you create. SOMETHING original.. Otherwise you're JUST a Consumer who watches videos, plays games, and do whatever else was created and presented to you.. And that's how you end up with entire swaths of people who consider themselves politically astute, and are willing to engage in debate by simply parroting the talking points they've heard over and over and over on FOX or CNN... People who are incapable of making their own talking points, talking two messages and reading between the lines to find an original idea... No.. It's either "Trump got elected cause of Racists" or "Trump is actually President, he's the greatest President, and he's sent by mf GOD himself..." Or he's a symptom of a much larger issue in our country but that's a nuanced conversation that is increasingly difficult to have w/ people for exactly the reasons I layed out...

[@colinbrazier8836]

@@pretary1845 couldn't agree with your post any more,spot on im from the UK and what you say about consuming vs creating or doing is so true my sons mates would prefer to watch people on KZbin playing sports or even gaming than actually do it themselves

[@maggiehopkins8945]

As for the CARES Act, a lot of those funds also went to foreign aid as well, for things like "gender studies". It's pretty disgraceful when so many U.S. citizens were truly struggling at that time. I'll post links in a separate reply as soon as I locate them again, as YT generally deletes comments w links and I want my comment to stay up.

[@billted3323]

Here is the golden rule. The government ALWAYS fails at it objective. That is why smaller government is better. The money always gets wasted or stolen. Communism is theory is probably a good idea. But never works because goverment always fails. Same with Unions and Charities. Capitalism and free markets are not perfect but its the best we got

[@rustty100]

There all disgraceful and full of crap! Politicians and him saying how he’s good at deflecting questions! It’s just so corrupt , while the country is imploding they create allot more problems and fix none !!!

[@jacksp8de]

Most of it went to corporations. About 2 trillion went right to the top 1 percent

[@RealYRM]

@@jacksp8de What didn't go to corporations is being taken back now by corporations with price hikes... it's nuts to me how progressives can be "for workers" and vote Democrat while hating capitalism, but all big media and big tech is owned by corporate billionaire Democrats. Look how that's working out now? All they had to do to keep inflation down was use the military to build a few temporary ports and keep Trump's pipeline policies online... we'd be fine right now.

[@chrisw9534]

@@jacksp8de A lot of it was contingent upon those companies not firing a significant portion of their workforce. I'm not for corporate handouts, but would it have been better for the government to force these companies to shut down their business, have them go out of business, and have all of their employees lose their jobs? Also think about how difficult it would be to rebuild these massive companies.

[@omidfilms]

If you took all the money in the world and shared it equally with everyone, it’s only a matter of time before it ends up back in the same hands

[@charlesbaker5001]

Lot of respect for Yang and his fluid and positive speaking ability.

[@nickcunningham7109]

"So they stay home with the kid...is that a win?" WTF. Yeah, it is a win!

[@MrZZsharka]

He’s not referring to a mum who prefers to stay home with her kid.

[@Ghostvor]

Funny how the solution to help people who lost their jobs due to government lockdowns is to give them money...rather than just not having authoritarian lockdowns😐

[@logical842]

There was a literal pandemic killing people. You would have dumb azzes going out and then spreading it. Bruh even China recognized the problem of this even though they were far too harsh.

[@LightningStrikes66]

Been waiting for this interview… going right to the full episode! Respect to Yang for always showing up and sharing his views.

[@derfrosch1487]

Respect to someone that is completely wrong and incompetent to do pretty much anything in government? He's just as bad as Bernie Sanders and all of his demon goblin lovers

[@ayye9991]

Click bait didn't really see any proof it wouldn't work.

[@tonyclark4954]

Look at the cost of living in the US over the last 2 years.

[@cooldog3014]

Yea all Pat says is "We did UBI these last 2 years, it didn't work." UBI = Universal Basic Income, to everyone, not just the unemployed. The only thing close to UBI that we did was the 2 stimulus checks. 2. What we saw was an increased unemployment, in which only the unemployed got money, not everyone. If only the unemployed got money, people would choose not to work and just get free money. In addition, most of the banks and institutions got money, this was no ubi what we saw these last 2 years.

[@practicingstoicism2048]

@@cooldog3014 look at how the unemployed chose to spend send money the vast majority spent it on drugs and alchohol so no ubi is fucking pointless

[@CashMoolah00]

@@tonyclark4954 what about the cost of living over the past 30 years prior to those 2 years, cost still went up….

[@seanknox7321]

@@tonyclark4954 nothing to do with ubi. Everything to do with scaling back production predicting low demand during the pandemic. Our low supply increases prices. So does corporate greed.

[@victory552]

I have lost a lot of respect for yang, when he first came out I thought he was not part of the establishment but overtime he has shown he is and goes whichever way the wind blows

[@randomuser1596]

Worked for CNN too didn’t he?

[@brarautorepairs]

Have you seen him taking whipping cream straight to his mouth and saying "full service candidate?". You should have seen the look on the campaign manager's face.

[@epsilon3821]

@@brarautorepairs jesus wtf lol

[@ASmoothCaramel]

so he's an American politician. I feel you though

[@microfarming8583]

I'm not a fan of Yang's policies but your comments are all hot air. Address the mans points rather than just attacking him.

[@LyonHeart888]

“We’ve had UBI for the last two years” Huh? When? 🔥🤔🔥

[@micperez819]

Yeah, he is saying the stimulus is proof that UBI doesn't work. 2k of payments for 2 years qualify as UBI? Lol that's not even close to UBI

[@LyonHeart888]

@@micperez819 exactly… die hard capitalism bootlickers will make up whatever they want to justify their greed/lifestyles/narratives. Smh. 🔥🤦🏾‍♂️🔥

[@NarutoManiac300]

Lmao man did no research on wtf UBI is or Yangs specific UBI plan either.

[@mightyjoeyoung9741]

Yang was endorsed by the Harvard Economist that wrote the textbook on Macro economics.

[@oldomen3788]

That is actually. Fascinating

[@69ElChistoso]

"...so they stay home with the kid, so is that a win?" Yes. Absolutely.

[@GuyVinmara]

It's a win if they are compensated for it. That's what he means. It's assigning monetary value to the work that mothers do.

[@louielouie7806]

@@GuyVinmara Taxpayers paying you to stay home and raise your kids is NOT a win in the slightest. This affects the currency by devaluing it. This leads to further inflation and a cycle that eventually leads to the destruction of that currency. Why? Economics 101: Create more currency to chase limited products and prices must rise.

[@pretary1845]

@@louielouie7806 We used to live in a society where one parent could work and one could stay home and they could own a home, and the breadwinner DIDN'T need to be an Engineer or well-paid IT job to do so... People raised families selling Washing Machines at SEARS.. Now both parents work and the average couple spends-.... TWENTY FIVE PERCENT of their income.... 25%... The average couple spends 25% of their income on child-care.. Is that NOT a tax? If that's not a tax on the poor then I don't know what you'd call it.. They desperately need that extra 25% to live paycheck to paycheck, so they can't kick one job and just have the 50%.. If that doesn't change how you look at our current system, I don't know what would, and I don't believe you care about ANYONE but yourself if you think people in that situation are somehow at fault..

[@louielouie7806]

@@pretary1845 No where in my comment do I blame needy people. But I DO blame you for being naive. Here is why: you said, '...Now both parents work and the average couple spends-.... TWENTY FIVE PERCENT of their income...'. But do you understand WHY that is? INFLATION! It is the very thing that you want more of when you preach for handouts. Currency creation devalues the currency and it punishes those who produce and save and THAT is a tax. Rather than complain about how costs are rising and calling for more stimulus and handouts, take the time to learn about WHY prices rise, so that you dont sound foolish calling for the very thing that is harming you. And it doesnt just harm you, it seriously harms and sets back your children and grandchildren.

[@dijonpsalm6938]

Not with these people lols.

[@nibbs06]

Isn’t the title misleading? The UBI that Pat’s talking about how many confounding variables if the overall outcome being measured is the economy. It was also a stimulus during a pandemic when a huge portion of people weren’t even making mortgage payments. It’s like saying UBI doesn’t work because tax returns don’t stimulate the economy

[@gracenote108]

For real, UBI is without means-testing or other monetary conditions in place. Unemployment is not UBI. Personally I think UBI's success relies on it's funding mechanism. I liked Yang's VAT idea.

[@golurk9521]

Correct he’s comparing apples to oranges. The unemployment benefits(consistent money) were tied to an incentive to not work. And the stimulus checks were far and few between. Neither of those two are comparable to a UBI concept.

[@JSilb]

The comparison is semi relevant in the sense that distributing more money around doesn't create more things to buy with that money. People think if they just had that extra $500 a month, they could afford the nicer apartment with no roommate, but the problem is, giving everyone an extra $X a month doesn't create more housing, in fact it may cause some to drop out of the labor market. Ultimately, the same people will be competing for the same housing, the only difference being that they all have an extra $x. The obvious result is average rent will just be proportionally more expensive. Of course it also depends on how govt pays for the UBI (taxes or inflationary spending). Either way, it is a redistributive scheme that incentivises not working, especially if the concept intends that everyone be paid an amount to provide for their basic consumptive needs even while they produce nothing. All these presumptive 'basic rights' like food, shelter, healthcare require someone else to work so I think the concept of no strings entitlement to the labor of others is flawed.

[@noahabraham8701]

This is what I have been wanting to see. I grew up as a broke Republican, I’m not a Republican or a Democrat. They are both screwed up, Mr Yang actually has some new ideas that make a lot of sense. Being homeless as a kid sucks and rape was pretty rampant in the foster care systems in Florida.

[@Chalk89]

This is exactly why he was sabotaged - his ideas could have actually helped and gosh forbid a politician would go against the grain.

[@PoperoniNews]

Check out the Libertarian Party as well. Yang and the actting chair of the LP Angela McCardle get along and phenomenally and work in unison on lots of ideas

[@beautifully_scarred_lea]

I was in foster care, too, for the last 5 years leading up to my 18th birthday. It was horrible and proved that relying on the community to raise and care for children, instead of a 2 parent home, is misleading and will cause moral decay and hopelessness in society. I am permanently damaged by my experience and many others I know, that never got the chance to be placed in a loving home and bounced from one abusive placement to another, feel the same. I am a VERY limited government type of person when it comes to my life because of that and then being a case worker and seeing how the system cared more about covering their tracks than family unification. To hear a former foster care ward, who said it was terrible, advocate for government assistance, is extremely troublesome. It's like you've developed Stockholm Syndrome for the very system that you relied on that treated you like shit, but you'll look to them to feed you crumbs. Why?

[@steverennie7907]

Is staying home with your kid instead of putting them in daycare a win? Yes! It is.

[@bernardqblack]

Not if you aren't paying for it....

[@mycollegeshirt]

@B B can you explain you're response it doesn't make sense to me. It seems ofcourse not paying for something you previously had to pay for would be a win.

[@freakstiches]

I said yes, right away, as well.

[@jasonhutchins9239]

He means take care of your own family… because i domt want to take care of your family

[@kingiam9271]

Then who is paying the bills while your lazy ass stays home?

[@wilsonsmanz]

Well while Pat was talking I already came up with Yang's defense but he gave a long version of it. Its very simple. I'm not even a strong fan on UBI but when Yang explained how he things UBI is supposed to work, his vision of it is no where close to the circumstances that existed during the pandemic. The $1000 is supposed to be additional income to regular income. If you take away people's ability to work and then instead give them $1000 or less, how are they supposed to be productive with that? So looking at these past 2 years is a terrible example to try to show how UBI would look in reality.

[@gadget00]

At some point during the pandemic people could go back to work and preferred to stay home and keep baking and woodcarving; that’s the issue with a potential UBI: people will adjust to live out of it instead of taking it as an extra to their actual work and remain productive

[@wilsonsmanz]

@@gadget00 You have to take into account that people was also scared to resume life as normal. The media made it a point to scare the shit out of people. A lot of people preferred to stay home for safety. Like I said, too many different factors were at play here to get an accurate idea of how UBI would work. That does not you are wrong. I just think the past 2 years is not a good barometer to measure the effectiveness of UBI.

[@gadget00]

@@wilsonsmanz I concede you that; the last 2 years are not a good enough example of UBI results. You have to dismiss certain factors to make that argument

[@kev3d]

Yang seems to think with an extra $12,000 a person, say, earning a modest $30,000 a year will suddenly be earning $42,000. Maybe, but it is just as likely the person is no longer motivated to produce more than his or her $30,000 + output, and may even reduce the output. In theory this person could reduce his or her workload (and output) by a third and still come out ahead slightly in terms of income. In other words, why work 40 hours a week to earn $30,000 when you can work 26 hours a week and earn $31,800? Production drops by 33%, but income rises by 6%. The UBI incentivizes consumption, not production. And when more dollars chase fewer goods, that's called inflation.

[@Raphael11001]

@@kev3d Or that person could use the extra $12k to invest in better equipment and increase productivity with less work.

[@jacobszekely4069]

So crazy to continually see people interview Andrew who clearly haven’t spent more than 10 minutes studying UBI as a serious idea. The Cares Act was NOT UBI.

[@theonlydz4178]

Yeah it’s just not the same at all.

[@profoundwill43]

It's not the same, but the result is the same. The money either comes from taxes or inflation: neither is productive or helpful beyond the short term. Doesn't matter if you give incentives to get the UBI, if you use the govt to raise that money, it's gonna Hurt people economically.

[@damienhudson8230]

Ever see a Democrat who understands economics? Me neither and probably never will.

[@Hoppensagen]

You do realize how generalized that opinion is right? Democrats are generally more educated than republicans. So they probably have more economists in there. Deosn't mean they always follow it, but doesn't mean they're always wrong about ideas involving economics either.

[@damienhudson8230]

@@Hoppensagen thats equally generalized if you ask me. I do however base my statement on the fact that Democtats all favor Keynesian Economics whereas many Republicans and probably most libertarians favor Austrian. One form is clearly the better way however doesn't allow for nearly the same amount of avenues of corruption via manipulation

[@adamturner8732]

Remember the democrat motto... it didn't work but didn't because I didn't admister it ..

[@TheSands83]

Wich party does? Both parties spend like drunken sailors

[@IamLegend32]

I'm no Democrat but what has any Republican do to show they understand economics? You know that Reaganomics and Trickle down economics is Republican policy right lol? It's been real great for the country lmao

[@Malevolence2513]

Andrew Yang has a good heart. Imagine working hard to give away a million bucks

[@svengangert2683]

The money he got from the american citizens as a politician. You think he gave HIS money away? 😂😂😂

[@NI771-_]

@@svengangert2683 no it’s actually his, he’s never held public office and made his money in the private sector.

[@svengangert2683]

@@NI771-_ Sure, and Biden isn't senile, because that's what the media tells you. It's pathetic that people believe they need the government to help other people. You see how well all the social programs work right?

[@Malevolence2513]

@@svengangert2683 actually I do believe it was his or at the very least raised for that purpose which still requires work to accumulate using free will unlike tax, which is coerced.

[@svengangert2683]

@@Malevolence2513 Andrew Yang is an authoritarian politician who didn't hesitate when it came to digital covid identification, but I guess that's what all of you lazy people ask for. How about you get your pathetic butt up and help someone, instead of giving away your responsibility to politicians who pretend to care about the people? Oh, right, all you want is free stuff and you actually don't care about people.

[@HillcrestGames]

I'm maybe a little right of center in a lot of ways, but I still think that Yang's UBI vision has incredible potential. But specifically as a replacement for a huge enormous list of wasteful expenditures that require committees and end up with bureaucrats just giving free money to people they know. Replace welfare, grants, subsidies, etc. End up hardly spending any more, and completely circumvent these sloppy corrupt institutions and give the money right to individuals. It's like using a neural network of 300 million human brains to figure out where to distribute the spending. As opposed to a corrupt group congresspeople who have had no idea what's going on for the last 30 years.

[@danielm5161]

Me too. UBI would indeed have to be architected, but we do need a mechanism to take some of the wealth sitting in billionaire stock portfolio's and invest it back into working class America. When the middle class is spending 50%-70% of there income on rent, they are tighter with there wallet with everything else (going to movies, restaurants, video games, sport events, buying the extra groceries that cost a bit more etc.). How exactly to architect in a way that rent seekers don't just raise there prices and make even more for doing nothing is harder to say.

[@TeresaElainePhoenixArizona]

Adjust Less UBI with the Additional Housing, Electricity & Food Stamps Subsidies Recipients are given so you can Track Essential Needs for those people to insure Essentials are Provided for 1st & TaxPayer Money is Not Spent on Other things instead.

[@sew_gal7340]

The problem is you cant give people UBI WITHOUT teaching them financial literacy, it's like giving a man a fish vs giving him a fish and ALSO teaching him HOW to fish. Poor people have no idea how to handle their finances, control their desire for material things, and they dont know how to avoid debt traps. That's why this dude is correct, ubi ends up being a "trickle up" effect, all that money will go to air jordans and the bezos of the world get richer.

[@danielm5161]

@@sew_gal7340 But who cares if it’s a trickle up effect. What’s wrong with that? That’s how it should be

[@HillcrestGames]

@@sew_gal7340 Poor people are already given assistance. It's just that the assistance is structured in a way that punishes them if they try to improve their lives, and incentivizes under-the-table activities such as crime. Under a UBI system they would likely receive less assistance, but they would never lose any of it as they decide to work 4 hours a week, 8, 16, 40, 80. So the dopamine reward cycle isn't maliciously cut-off by pulling away assistance as the people improve their lives.

[@Edgar-Friendly]

Some people have a Poverty Mindset where they just cannot understand and control money/resources. In hunter-gather days, these people would starve and die off. Today, you can give them all the money they ask for and they will burn though it and have no receipts to document their path.

[@leviboswell9510]

Well said. Work or starve is natural and the reason we’re not extinct

[@jamesdwyer7752]

Niagara Aquarium has a geriatric penguin that obviously would never exist out in nature. Humanity is in a sort of unnatural protected environment for better or worse.

[@derpsauce719]

Or maybe your understanding of "nature" is.

[@ellinmara5997]

That's just plain wrong. Studies have shown that if you give money to homeless people (not just a few bucks, mind you) they actually spend it on useful stuff.

[@leviboswell9510]

@@ellinmara5997 like crack, meth, and beer!

[@bryans1043]

He should interview Larry Sharpe

[@shamuso1596]

In UK we have working tax benefit, so if you work 24 hrs a week ( used to be16hrs) then the government tops up your wage. Problem is 3/4 of people on it now could work full time but will only take part time work. I run a small business and found workers asking to work fewer hours so they could go onto benefits. The government in last 20 years has tried to reform and adjust but can't now. So they work part time pay no tax, take money out of benefits system. Its pouring a bucket of water down a well.

[@carlitos_714]

I’ve had a person say they don’t want to work over a certain amount of hours because they would lose benefits too. I’m in California. Didn’t hire them

[@weignerleigner3037]

Yeah people do that in america so they can get unemployment. I get workers rights are important and we should help people but we tend to do it at the cost of the employer which creates an environment where entrepreneurs don’t want to start businesses and hire people. Which then leads to the monopolies we see today. When workers rights didn’t exist sure it sucked being a worker, but that encouraged people to become entrepreneurs and during that time products were cheaper people could save more money, jobs were readily available. A famous economist once said there are no solutions only trade offs.

[@MegaGuitarplayer92]

Thats why I work for my self, and choose not being a slave to someone like you.

[@carlitos_714]

I guess you haven’t hired anyone yet

[@redcloud2593]

It's called socialism. They want to destroy your small buisness to controll you.

[@Elimino_P]

It's too bad that Yang is hung up on UBI. I think he's a decent guy. I'd consider voting for him if he would drop UBI. It's one of those ideas that gets completely broken as soon as it's exposed to the first human.

[@santiagopuentep]

He thinks that the government needs to give money to people. He is plain wrong. Where does that money come from? From the people (stolen through taxes or inflation). So, he wants politicians to take our money and give that money back to us. What do you think happens in between? Isn't it better just to lower taxes (we keep more), forbid money printing (our savings are worth more) and remove the billions of stupid regulations (to let the people invest more easily)? That's the only way to lift people out of poverty and to create economic growth: stop letting politicians play with our money that WE worked for, not them. Welfare is great, but should be done with your own money, not other people's money. It's just horribly immoral because it's pure theft. UBI is a theft based system.

[@Quawnn]

i don think one idea should prevent you from voting from the best candidate we have seen in decades. Why not give this guy a chance but give the career paid off politician with no backbone, that doesnt care about the average citizen, and dozens of bad policy ideas a chance lol.

[@Decoyow]

What do you mean? UBI is a great idea and even supported by highly regarded Republicans. I agree that the idea of UBI turns people off right away because they can't understand how it would work and that loses an audience. My mom got hung up on the idea even after I explained where the money would come from. It's unfortunate.

[@santiagopuentep]

@@Quawnn the only good politician is the one that lets you keep more money (lowers taxes), protects your savings (lowers inflation) and gives you more freedom (removes regulations). Is he asking for any of those? Or is he saying pretty words that actually end up taking more from you?

[@santiagopuentep]

@@Decoyow where would the money come from?

[@kaceysmiley7917]

I like his idea of incentivizing people to work instead of what we have now. However, his biggest mistake is he ASSUMES everyone that gets that money will act as responsible as he does with that money. We saw where most of that stimulus money and extra unemployment benefits went: Alcohol, entertainment, and games. He needs to get out into the real world and see how a lot of people really are and not the stereotypical Christmas Carol stereotype.

[@leeeduncan]

A major spike in overdose deaths where i live.

[@badfoody]

It also assumes everyone has the same circumstances. No one will have the same circumstances. People get sick, they get into accidents, born too poor, debt. A lot of bad things happen

[@tchadcarby8439]

#1. He has NEVER assumed that everyone who got the money would do good with it. And it's stupid for anyone to think that. #2. The results for UBI trials showed that most of the money that people got was spent on food , rent and utilities. Not Alcohol and drugs. Please do due diligence first.

[@alexatedw]

He doesn’t make any such assumption

[@MrBen23]

@@tchadcarby8439 source? I tried to find results and Andrew Yang avoided answering the question directly.

[@weignerleigner3037]

I mean my problem with UBI is that we have nearly 6 decades of experience with a welfare system that not only doesn’t work properly and in a way creates poverty, but it’s shown that welfare in any way shape or form will be abused not only by citizens but by govt also. I don’t think the middle class will accept being screwed over even more than they already have.

[@johnotoole5786]

Very gd point Govt doesnt do anythn efficient except fight wars

[@mightyturnip5070]

How has it not worked? The alternative to welfare is starving to death and having to build slums. Also for a capitalist market to work people need to spend. So if people have more money, they are more likely to buy more goods which opens bigger opportunities for businesses.

[@weignerleigner3037]

@@mightyturnip5070 ok I’m gunna ask you two things. How did people get by before welfare? And how do you consume something that hasn’t been produced yet?

[@soxfan5240]

@@weignerleigner3037 How did they get by??? Lol they fucking didn't..... The life expectancy in 1930 was 50-55 years old........ Crime ran rampant, both petty and organized. Social safety nets massively raised the quality of life for the poorest people in the US..... The current system needs work, but it's not worthless as much as your side wants to make it out to be. There's a reason nobody has ever gotten rid of it. It would be wildly negligent and instant career suicide.

[@weignerleigner3037]

@@soxfan5240 your a lost hope

[@markcarey67]

I love how Patrick seems to think that one off stimulus cheques are in any way isomorphic to the kind of UBI Andrew is talking about...it doesn't matter if it flows to the rich as long as it also continually flows back to the poorer people as well. Money must flow.

[@moseschew4538]

Exactly what Nancy polesi Demonrats types would say

[@micperez819]

Yeah, he says a stimulus is UBI. That's not even close to UBI smh

[@MegamanTheSecond]

Ubi will only accelerate inflation after 1 year your $1000 will be worth almost nothing but it's whatever I'm prepared for the coming economic collapse the more people beg for free money the better off ill be

[@lennybrewster4673]

The problem is poorer people don't understand money so you can give them millions and they'll still lose it. Giving someone money who know what to do with it, how to leverage it, and how to build something with it should be required education in public schools. Public education these days creates illiteracy in all things.

[@samturner501]

@@lennybrewster4673 okay but when a person "looses money" it means someone else is gaining it. That's literally what's supposed to happen. You're just being weird and using the word "loose" instead of "spend". Stimulus/UBI is supposed to lead to spending. When money is given to wealthy sociopaths that "know about money" they do not spend it. They save it or invest it and the community receives zero benefit.

[@JohnWindschauer]

We need Larry Sharpe!

[@MrOrientalism]

Pat, what microphones are you using?

[@rowanoke4944]

That wasn’t a test of UBI, and it also didn’t fail. Just showed the issues with the current rate of pay and employment most available to people

[@fishsticks850]

Love Patrick. I really enjoy his straight talk. Not afraid to say what he sees.

[@colinhay1666]

I understand how what this host is saying might sound appealing to the masses, but he's not actually saying or challenging anything in any meaningful or informed way, jumping to conclusions etc.

[@worldnomad2301]

They were stimulus checks, meaning to stimulate the economy and help businesses out. They weren’t just poor checks

[@tclass99]

Help WHAT businesses? The hundreds of small and medium sized ones that were forced to close for months on end? Seems like the big businesses were the real winners over the last 2 years.

[@worldnomad2301]

@@tclass99 You’re missing the point. Patrick is trying to make those checks out to be some huge waste of government spending because even rich people are getting them. They weren’t just poor people UBI checks, they were “stimulate the economy checks”, hence the name. Now on whether they helped small businesses at the end of the day is another discussion.

[@CarolCityCane305]

@@tclass99 you forgot about the PPP loans? Rich republicans loved that ask Tom Brady and tucker Carlson

[@valoxsen6003]

@@tclass99 My small business thrived during the lockdowns, and the stimulus checks did help with expenses as I converted it to a more sustainable model. I'm still running the same business today.

[@fvasque1]

People will be people and take advantage of any money for no work😂

[@madam497]

yup, i was disappointed I wasnt unemployed during the pandemic. Was hella jelly of those getting paid more than me to stay home. LOL

[@fvasque1]

@@madam497 there will always be the takers amongst the givers.

[@BlowitAllUp]

That's the great thing about UBI. You're getting the money too so you're still earning more than the unemployed. Every single welfare program needs to be eradicated including unemployment.

[@ubuu7]

Ubi is not money "for no work" That is unemployment insurance. You work that goes away. Ubi is money on TOP of work or non work. Everyone who gets ubi and also works is better off than people on ubi that choose not to work. But being able to coast longer without working or just working part time instead of full time can be useful Fernie. Maybe you can spend time learning a more marketable skill or trade with the additional time not needing to scrape by and live when people like you demand that ALL income be tethered to labor alone. Unless it's inherited. Then who care how much of a welfare baby you are.

[@siorai1]

@@ubuu7 💯🙏🏼

[@DontKillFriends]

Yeah PBD is misguided here, we didn’t try UBI, we gave people a stimulus check a couple times and had people on unemployment. That’s totally different in practice than UBI. The child tax credit was a huge success but they let it expire. I do appreciate that he asks a question and then let’s Yang talk. Then asks follow ups. Good interview (I know this isn’t the whole thing)

[@kevinnnnn702]

How is that different than UBI?

[@jamiekelly6851]

@@kevinnnnn702 I think he explained it lol

[@jamesloehr641]

@Jonathan Guez because ubi pays those working also. It doesn't just pay the unemployed as a incentive to stay unemployed. You would make a additional 1k bucks besides your work income. Giving you more incentive to work.

[@DontKillFriends]

@@jamesloehr641 Exactly, there isn't an incentive structure surrounding it, meaning that it just benefits people. Yes it raises the floor, but it wouldn't have a net negative impact on unemployment but, rather likely a net positive one.

[@jamesloehr641]

@DontKillFriends that's why it had to be universal and paid to those working and not working. It's only a negative thing if it's structured to only pay those who don't work. Then that would obviously be paying people to not work anymore. Which would have a negative on employment. But if it's universal basic income then everyone gets it including even wealthy individuals. Which actually incentivises working and is the best social safety net over anything we have currently. It would litteraly end poverty.

[@dougdonelson9471]

Diggin the new podcast setup and guests. You've been killin it lately Pat!

[@georgesimeonidis8695]

I saw the whole clip. Unbelievable proof. No one saw it, nobody understood it. Truly amazing

[@dvs_musik]

Lol

[@marcritchie4968]

so printing isnt the problem, this guy would print differently. 5000 years of financial history disagrees.

[@brarautorepairs]

The creation to money doesn't create inflation in the short term. Actually, the extra liquidity keeps the economy going. You pay for this later on through higher inflation which then translates to higher taxes through wage growth, sales taxes and consumption taxes. The nice thing is that you prevent lost productivity that would have hurt workers and the government's income. We have to see what the net present value of the borrowing is verses the benefits to the economy. If the benefit is greater than 1, then you can spend your way out of anything. The real devil has been QE and NOT government deficit spending during the pandemic because QE blows up asset prices. Higher asset prices are not productive to an economy and only serves to increase the wealth of people with assets. I would argue that we could have gotten through the recession with the massive QE the Federal Reserve undertook post 2008.

[@twhiteofrd_1102]

no, because Yang wouldn't have printed money for UBI. He explained how it was funded when he ran for president.

[@iamjyk11355]

@@twhiteofrd_1102 it’s still free money in the minds of the masses

[@lordjaraxxus663]

@@iamjyk11355 "the masses" one reality of the market is that markets leave behind those who dont have specific tradeable skills, and the required level for those skills is increasing a lot, just look at tesla self driving semis, those alone will take millions of jobs from truckers, self driving cars will take millions from transport services in the next 10 years, you think the 40-50 year old people who work those jobs will just learn how to code yeah? you really think they will find a tradeable skill at that age to sustain their families? Now expand all the automation tech, look at amazon warehouses, completely automated, no jobs there. You have to be a sociopath to think "pull yourself up by the bootstraps", and thats what every conservative/crypto bro is, a sociopath who never interacted with a family in need.

[@dqh6429]

@@lordjaraxxus663 Pushing wages up as the left continually wants to do only pushes into more development of those automation. Sooooo it's not like the left is really coming up with any compassionate ideas for those that will be left behind; they're just accelerating it.

[@rmglover3191]

I need to find this data on how most of the stimulus went to companies. As a person who was fortunate enough to work through the pandemic in NYC I can say - it was a challenge to find, and retain, help as many people made more money on unemployment. Further, my girlfriend at the time (who works for a major clothing store with lower price points) says her clientele is the low income areas. Her company’s sales spiked when stimulus hit. It appears - the energy of money flows up (not lateral). Build your structure and get paid.

[@zamrock2508]

Yeah I'd like to see the data too. Similar situation here. I got a check and almost everyone I know did too.

[@auttoautaut95]

amazon revenue pre and post covid is a great indicator

[@bocadelcieloplaya3852]

When peeps buy food or any other goods, that money goes to the business owner....so of course the rich get richer. Happens every day with money peeps earned at jobs. Welfare peeps loose benefits if they get a job. This doesn't make peeps want to get a minimum wage job when they get the same or more on welfare. Just give ubi for anyone making less than 50k. Problem solved.

[@shanghaiknight88]

@@bocadelcieloplaya3852 if you give people money it gives them an incentive to not work. To solve that issue just remove there federal income tax. If you do that, that is close to $1,000 a month. Stop complicating this ubi bullshit. Dont print money just to give out 1,000$ and cause inflation. Just remove the federal income tax. Better yet remove all taxes and increase the sales tax. 70% of the usa economy is based on consumption. It would make logical sense to remove ALL taxes and just imply a 23% sales tax. After all you are robbed out of 23% every week on your paycheck. With a national sales tax you are paying your taxes at the same TIME having the product you been wanting.

[@312mr.fresco8]

Companies received millions , your friends and everyone that you know received 1200 if they filed taxes in the last few years.

[@FabioPedrazzoliGrazioli]

Very interesting convesation, I think, as very often happens, the best approach is a combination of both views, or as the saying goes, paraphrasing: "the truth lies in the middle". There is obviously a case for helping and assisting people and families in real dire straits, so at that level I believe economical aids from the government could be an option, but that help should be delivered with the clear understanding that the intervention is limited in time and, in parallel, the receivers of the aid would need to agree to participate in some form of financial training/literacy. The aids and the training would be delivered in chunks so if people stop studying they break the agreement and they will stop receiving the next chunk of money too. They are basically being paid to acquire financial literacy, so in a way, the whole community is investing in the project for the benefits of all. Basically people should be helped but also in parallel taught to become responsible 100% for their life, so that the crutches of that financial help won't end up becoming an hindrance and spoiling their personal success and development journey along time.

[@Curiousnessify]

this makes sense. therefore it will never happen

[@davismarotta3556]

Andrew destroyed Patrick! Great job Yang!

[@bernardqblack]

You must have watched the wrong video

[@erikmunoz55]

No one destroyed anyone 🙄

[@joshuaa.kennedy8837]

On the short end it's positive. But on the long end it's negative. *"The road to Hell is paved with good intentions.*

[@Michael-st9ky]

Damn Jesus must of went to hell.

[@davidshaw1103]

I’ve heard JP talk about the Pareto principal (I think that’s what it’s called) And that sounds like what Pat is interpreting when he claims UBI won’t work. But in my eyes, it’s not only about where the money goes after it’s distributed to American citizens, it’s about empowering the “diamonds in the rough,” so to speak. The hard working and competent individuals who were born into a lower working class situation. I see a UBI as an effective way for America to bring up the best individuals even from the lowest classes. And that’s what we need to continue competing with China and others.

[@kingX777]

I don’t get how he says we’ve had ubi. We literally only got like two checks lol makes no sense.

[@CashMoolah00]

He talking about employment benefits for people that had a job and got laid off

[@alfredojarvis8636]

@@CashMoolah00 6% of America is not universal. I know many that should have but did _not_ receive benefits during the pandemic.

[@alfredojarvis8636]

@@CashMoolah00 But I know those are his words, and not yours

[@CashMoolah00]

@@alfredojarvis8636 yeah I agree the context in which the question was framed by Pat was disingenuous

[@BlowitAllUp]

They printed money on purpose just to make the idiots think UBI wouldn't work.

[@terry4137]

Herman was the man!

[@enerpro2955]

Pbd offered absolutely no proof for his argument about UbI. And if I'm not mistaken, yang's original purpose for it was consumer spending not saving

[@michaelbriones6295]

It's a win-win. Give taxpayers money to spend and then demonize Bezos for getting richer when everyone uses their money to shop on Amazon

[@enerpro2955]

@@michaelbriones6295 a lot of people used COVID funds to pay down their debts

[@michaelbriones6295]

@@enerpro2955 so is it for consumer spending or saving? Pick a position dude

[@davidtauer9531]

I was skeptical about UBI at first, but I’m fully on board. Trickle up economics makes so much sense.

[@ravelblair6772]

Completely incorrect that we had ubi, we had relief during a time normal income was reduced. So Bet David claiming we have tried it and seen it doesn't work is categorically false. Especially since he mentions that we didn't see people save and become prosperous after the two years, demonstrating he's not factoring in the reduced income and how that is different than u.b.I. On top of income which would allow one to save, and would be fair to judge (though even then judging it after only two years would be silly). Bet David is smart but he's so inclined to be on the right/conservative side of issues it Leads to this

[@darthvader4027]

That’s assuming most people weren’t working, I received it and I was still fully employed. So your generalization that most of the money went to unemployed people. It was a universal basic income in every sense. It was not an additional unemployment benefit.

[@ravelblair6772]

@@darthvader4027 how did you get unemployment if you were fully employed and getting full income? And don't you think it's fair to generalize that the majority of people who got unemployment had a drop in their employment? Or do you think the majority of those people (or even 25%) were getting their full pay and unemployment?

[@diegodesouza9697]

People are poor because wrong decision, as simple as that, here in America you can’t cry that you don’t have opportunity, I came here no speaking an word in English and I succeed, how is possible somebody from here no be capable to do what I did, I only have high school, you only need to work hard and stop with the bullshit crying about everything.

[@ravelblair6772]

@@diegodesouza9697 whose crying? And did you have any help from family or anyone when you were coming here or when you got here? Did opportunities come your way? Unless you were completely seperate from other people you had help, and looking at other humans as less than you or silly is arrogant, and ignorant of how much life provided to you. People are born with different levels of support.

[@theonlydz4178]

Well he’s also not considering we are in a shortage, partially due to a war going on. Which is pushing inflation out of control, making it even harder for the Average American. A cheeseburger is like 15-20 dollars unless you’re eating fast food.

[@jhonklan3794]

Another crucial difference: Yang would fund his proposal with an increase in taxes via VAT. He would not just print money

[@ohlawd3699]

Oh great, more taxes now! Dear Lord, why are these people so stupid? 🙄

[@cowtownguy6732]

What are these "positive results"? I can't imagine there were primary data that was rigorously analyzed.

[@joshuabyram7485]

It’s great that he gave $1,000 to 1000 people. I’m sure it did a lot of positive. But if he did to try and show ubi works it’s extremely disingenuous and he has to know that. 1,000 people in the Bronx which he paid with his own money is not going to cause inflation. Giving $1,000 to every person by way of the government certainly will.

[@pretary1845]

That's... That's not how it works... Overstimulating the market is a thing sure, but a healthy economy just needs money flowing... That's why during Covid, people had NO MONEY, and literally 1000s of small businesses had to shutter their doors.. Now if the government would have given TRILLIONS of dollars to the average American, and to small businesses the money would trickle UP! They'd go spend at small businesses and would have ordered food-to-go from restaurants.... INSTEAD they pumped Trillions of dollars into the STOCK MARKET and gave us the 'ol "Hey it'll Trickle Down!" chain-yanker they always do, and like usual the only thing actually trickling down is a little bit of piss you get on your shirt... We ARE giving free money to people... Not measly millions or billions.. No we're Trillions of free money to the Stock Market, the companies of which do stock buybacks and give their shareholders higher returns, and that's why the market did SWIMMINGLY during Covid while people got evicted from their homes and Mom and Pop shops closed their doors for good, Nationwide.... We are a Socialist country.. It's just Socialism for the rich.. You have no issues with that... That's not something you care to raise concern about... You and so many others are once again, blaming people with NO MONEY and NO POWER for something caused by the top 1%.. The top 1% eats the whole buffet, and you get mad at 99% thinking "Maybe as an American citizen who's subsidizing these companies thru my taxes, I should be entitled as a to a breadstick?..." And you yell that there will be no food left if poor people get breadsticks... YEA... Cause JPMorgan ransacked every food tray in the entire establishment...

[@ernieb8490]

That $1000 to 1000 people is a one off payment tho. A monthly UBI to every US citizen won’t cause inflation because the market will settle to adjust to the continuous flow of money.

[@lennybrewster4673]

@@ernieb8490 you're assuming that $1,000 a month is automatic economic velocity.

[@Dan16673]

@@ernieb8490 what? adjust? yeah inflation IS the adjustment

[@FazeParticles]

UBI should be discarded as dumb. rather what we need is a reformed version that only applies to people under low income brackets.

[@alfredojarvis8636]

Loaded title lmaoo.

[@TruckerJohn97]

Respect to yang he at least is willing to talk these things out

[@ShizzleMcBizzle]

PBD with the heavy hitters! Great clip!!

[@RealJoshBinder]

Ubi would need massive printing which would further spike inflation which disproportionately affects poor and Middle class

[@carltonblack2008]

UBI could work, but EVERYTHING would have to be at a point of automation that there are literally only enough jobs for like 15% of society. I am sure they're headed that way and I'm pretty sure my kids will see it in their lifetimes.

[@TheAustrianPainter87]

Facts. The poverty line would shoot up from 20k to 40k

[@ammandotcom]

it is self defeating exactly like you said

[@diannh2894]

Pat I love your ability to interview clearly and ask great questions. You're the person we need to ask questions during presidential debates. Although I refuse to vote and don't belong in it, lol I'm sure others would love you up there.

[@mpac418]

I disagree.. If Pat was asking his own questions. The democratic party would never be able to answer the questions without making excuses.

[@lennybrewster4673]

@NBA CryptoBoy we don't need them to. People just have to simply not watch. The candidates will move to people with an actual audience. Media is at its lowest trust percentages among Americans in it's entire history.

[@hectoraavila4774]

The only problem I see with Pat that he only sees the bad in democrats but none in republicans. He also praises Trump a little too much. I’m independent and disagree with almost everything both parties do so I like when both parties are challenged not just one. Just saying. Most people here are republicans so of course they like Pat.

[@25BDominique2021]

Someone like Joe Rogan would be better a person like Pat is extremely biased towards democrats. Like the comment above me I'm also an independent so it's a bit easier for me to give credit where credit is due and separate the good policy versus the bad.

[@ryandalion8379]

Joke right?

[@KyleThumm]

Thanks PBD! Your content inspires me to chase my own American dream.

[@bronxer78]

Over UBI, negative income tax is preferable, as Larry Sharpe proposes.

[@markcarey67]

Yeah, totally, you could eliminate the welfare services branch of government and expand the tax office a little bit and you would save a whole lot of $ in unnecessary administration.

[@chris-cy5ed]

Jack was right hyper inflation is here and was coming no wonder they fired him!! Thanks Elon

[@kirtthomason4620]

if California alone got bilked outta ~ 30 billion in the paycheck protection shit-show, imagine the level of graft and criminality in UBI. Best way to earn money is to get a job

[@crzyruskie86]

That's why he said you'd have to be working to receive any type of UBI. Otherwise people are incentivized not to work to receive their benefits.

[@johnanthony9923]

@@crzyruskie86 Calling yourself "6Money" while not understanding even basic economics is priceless.

[@Michael-st9ky]

Best way to earn money is by having your money work.

[@kirtthomason4620]

@@Michael-st9ky yea, well, you gotta get the money first, right? Working is a proven method

[@jaredstark231]

UBI sounds like a crazy idea. But, I'm very uneducated so maybe it'll be great! Lol

[@onedone2011]

I love the poorly educated!

[@realMikeBenz]

nah... think you got it right.

[@BlowitAllUp]

People are pretty ignorant so they just believe whatever the news says. It's why the majority votes for Biden or Trump.

[@siyalusiti8238]

😭🤣😂

[@mightyjoeyoung9741]

Yang’s UBI actually would work. “Stimulus” was 99% corporate socialist bailouts via airlines and PPE slush-funds. The stimulus was not a UBI, it was an inefficient, corrupt and perverted version of it. Pat, you’re just wrong on this one. You’re logic is like saying oh look, the government can’t be trusted with money, therefore money is bad. The problem is that the system is too bureaucratic and Yang is actually very libertarian, anti bureaucracy, and anti authoritarian, which is all essential to making UBI work. UBI is actually the best social program if you’re going to have any because it’s the least bureaucratic and takes out government control over money and gives people autonomy over their own tax dollars and the whole process could be automated on a secure blockchain. UBI is a superior social program to healthcare, disability, welfare, food stamps, free college, you name it, UBI is better. A UBI would mean freedom because you need money to make money in an economy that is becoming abundant and highly automated and value is coming more from data and entertainment than anything else. Nobody is going to buy your shitty hotdogs on the corner with your startup business you can’t afford. The top ten richest companies sell your data. Your options today are have money and time to get into a skill trade (less than 30% of jobs), create an app, or somehow get $30k to risk starting a food truck, or be a KZbinr or drive Uber. If you can’t afford to get into any of those jobs you’re pretty much a slave. I don’t care that people have iPhones etc. money is relative, it is just a number. They will pay any price just to own all your time and inflation happens when people demand more money so they can actually start to own their own time and labor and leverage it. They are stealing from us and selling us into slavery and indentured servitude with a rigged system. 8% inflation caused a 30% price increase in my storage unit. That makes no fucking sense. It’s and excuse to be greedy and price gouge. The problem with capitalism is that it’s actually fucking communism and nobody is willing to invest in employees and working class and actually give 90% of the population the opportunity to capitalize. Nobody owes a company 30 years of their prime time just to get robbed of time and money. If you want people to like capitalism, stop being a communist and invest in people instead of corporations or the government. That way they have the opportunity to capitalize and invest. If you want people to like capitalism, let them benefit from capitalism. It’s that simple. GM has robot arms doing factory jobs now. They got bailed out with our tax dollar, and are using automated technology that was most likely helped funded with our tax dollars. Where is the return on the investment of our tax dollars when we fucking need it? Where is our freedom dividend (aka UBI) for being investors and shareholders in this country? Are we just supposed to work towards automating everything not to gain freedom and higher standards of living, but to just kill ourselves after we’re out of a job and stop making money? You’re wrong pat, and time will tell. These trucks are going to drive themselves in 10 years. We need Yang’s exact policies. He’s deserved and earned the right of POTUS more than anyone else.

[@throughdude23]

I'm a fan of universal tax breaks for those who earn less than 75k a year. I also like a tax break when I get laid off the same way the company gets a tax break when they lay people off and claim a loss. To heck with inflation and raising minimum wage the money an individual could save from a real tax break like big companies get would surpass anything a wage increase would give.

[@JimBob-jr5up]

Are you kidding me? There is no world i live in where the 12 grand in taxes i paid would be more valuible than if we started to force employee wages to closer to what they should be based on tge model our economy was created on.

[@SBayne762]

Businesses don’t claim losses when they lay people off. If anything their taxable income increases because they are no longer paying somebody’s wages so that’s less expense to deduct.

[@gabrielharrison9800]

12k? more like 50k for most hard working middle class americans, so yah it would definitely be much more worth it, cutting taxes isn't the only solution to this problem however. The U.S needs to focus on lowering the costs of supply to reduce the cost of living, this is specifically geared towards California and their horrendous housing situations. It is crazy how much less you make once you reach 100k-200k income due to taxes. California is getting closer and closer to becoming a socialist state, its no wonder why the whole state is going down the drain. How is it fair for someone who makes 150k or so to lose almost 40% of that to taxes and and almost make as much as someone who earns around 70-90k because of taxes. The whole taxing system is a joke implemented by the government elites who are benefiting off of our hard earned paychecks. There is a much better way to pay the government than the way the americans are right now.

[@MashiroRedo]

Most people I know just went on vacation with unemployment. It doesn’t work. They got motivated only after unemployment stopped.

[@RealActualNews]

That’s why UBI should not be tied to unemployment. It should incentivize work

[@johnanthony9923]

@@RealActualNews So your plan is to only give it to people who are already working? Nothing for people out of work? Brilliant. lol

[@BlowitAllUp]

That's why UBI is better than welfare and raising min wage.

[@RealActualNews]

@@johnanthony9923 No of course not. Just don’t tie it to unemployment.

[@johnanthony9923]

@@RealActualNews Ok, but then how does it incentivize people to work if everyone gets it whether they work or not?

[@asahisagoiboi3517]

Durham NC is doing a Universal Basic income Pilot now. It's crazy in the South too. It's actually cheaper than all the public benefits combined.

[@GBuaccc]

Hey pat, how successful would you have been though if you had some extra money? How come businesses always want more profits but individuals become complacent? Once you’re bills, shelter, and food is covered you can focus on academics, science, military, etc.

[@siorai1]

Ya I think a lot of people in the comments are overestimating the amount of people who will be complacent with 1000$ and never try to work or accomplish anything because of it. Sure you’ll get some ppl that are fuck ups, but you’ll have that anyway- I think alot of ppl would use it like you said - just more stability while they focus on other things to be successful

[@theforeignerinamerica1817]

Love Pat… he talks so well and expresses his ideas clearly.

[@on9francisyu]

it is always appreciated that those people can communicate their ideas well

[@wasdwasdedsf]

so smart and genius that he doesnt even understand the first thing about anything he talks about... we had NOTHINGG like ubi... the government printed something like 10 trillion dollars, destroying the economy and currency of an entire country... while forcefully shutting everything down arbritrarily (that isnt something associated with ubi obv, so comparing this scenario to how implementing ubi would look is just absurd beyond belief)... and the main point, out of the 10 trillionprinted, about 20-30% went to the citizens directly saying "hurr we just implemented ubi, doesnt work" here is like saying a sperm is identical to a grown human... i cant even believe how he could be this dumb...

[@josesbox9555]

That’s hilarious

[@lesgrossman9492]

Clearly expressing and communicating stupid ideas does not impress me.

[@marbury2403]

No he doesn't.

[@Arizona9001]

UBI federal level? Does he mean that lousy two checks sent in the span of about 8 months? A ton of people needed much more than that being out of the job.

[@thestsconsulting8968]

That 1200 helped me alot. In addition rent is 1500 for a 1 bedroom in Ny it helped

[@mauriciomontejano3506]

There’s no discussion of the Value Added Tax that would be implemented to finance UBI which is a crucial component. The idea is the VAT is added to non essential items like fresh groceries, water, diapers etc. This would ultimately drive prices up of everything else but those goods not subject to VAT would remain low. Essential this is a work around to subsidize basic needs so people are guaranteed food, water and basic necessities.

[@justinamunich1284]

*Living a life of luxury is like a dream for some people and for others it’s constant reality, the key is having financial stability and strength but the question is how to*

[@Ryan-cd8mw]

I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate or crypto and stocks.

[@mahaffeythomasedwardshawn8981]

Crypto trading is the best investment anyone could get into. As it could make you rich in a blink of an eye.

[@wisdomjordan1090]

I’ve always wanted to trade crypto but got confused with the fluctuations in price

[@franklewis5003]

Wow I know Mr Charles Wilson. I met him at a conference in carlifornia 2019 where he introduced us his business strategy, he helped me cover my student loans

[@georgemaxwell5172]

I also trade with Mr Charles Wilson, and i must say he makes money making seem a whole lot easier right now I’m a single parent and i pay the bills comfortably since i met Charles Wilson he’s absolutely amazing and I’d recommend him for any novice in crypto.

[@KyleInOklahoma]

*_Rather than just giving everyone money, i have an idea. Just allow people to keep what they have. Lets see who is motivated to go work. I promise people will go work to feed their family & those with excess will gladly contribute to their community to make it a better place to live for their kids & community._*

[@robfromvan]

Or keep to use later on in life, either way that’s fine too.

[@GabrielFlies]

I wish I could believe this story but it is already being disproven, just look at the behavior of the wealthy and the distribution problem. If everyone had more money and less taxes would they give more to their neighbors? Or would they just keep more for themselves. Sinful man… I know what we would do. Not saying I am for high taxes, I would like to be taxed less, but I wonder high taxes is compensating for our failures to take care of our neighbors?

[@JonezBBQ]

Universal basic income only works when you incentivize people to work, rather than not work, like unemployment.

[@Rellhill1]

The point of UBI was to buy assets with that money. I watched a lot of my people BALL OUT because they had "free money". UBI does work when the people want it to work. I watched a few of my friends receive over $10,000 yet they have nothing to show for currently

[@noobandfriends2420]

6:43 He goes into a story when instead he should be detailing where the money went and what it was spent on. My guess it was spent on junk and non essential items. I was able to pay off all my debts, wife's car and medical bills, except my student loans and mortgage with the enhanced unemployment and stimulus check.

[@infini.tesimo]

While I'm not onboard with UBI I understand that it's inevitable and will likely be implemented in the not too distant future however, I am onboard 100% of the idea for owning your data completely and giving access to companies under strict conditions that if your data was used in any decisions for how the company became profitable that year you get an automatic dividend. They are freely using it and that is unbelievably useful for a decision in any business so it's only fair that we get a sliver of the action from the biggest companies from the Fortune 500 on a regular basis.

[@chrisj9849]

I never thought of that. It’s genius.

[@miketheyunggod2534]

We already have it. It's the welfare system.

[@infini.tesimo]

@@miketheyunggod2534 care to explain?

[@miketheyunggod2534]

@@infini.tesimo stop blaming others for YOUR laziness.

[@infini.tesimo]

@@miketheyunggod2534 I'm not quite sure I understand still. I think we're talking about 2 different things. I'm talking about data usage and how that enables business decisions for future profits. You're talking about I'm guessing UBI and handouts which I am also not for at all either when it comes to not being lazy. By giving your data as a "lease" to companies to use year to year, you would gain profits that they make from how you already do things on social media. Similar to people to how people trade in the stock market or crypto. At this very moment, through cookies and "cookieless" scripts, companies know exactly what you are doing at all times and profiting from how you behave for free and that's not fair to you or anyone on top of invading privacy without permission making it clear how you'd use it. Most of the time, they leave the fine print in the smallest text in the most obscure part of their websites to dig out and it also has a ton of legal jargon that doesn't make it easy to determine what's happening on purpose.

[@cwr8618]

"Meh - I got a million bucks, let's give it away..." would be great to be in a position to say something like that so casually

[@HistoryCity1]

Ask me about UBI 3 years ago and I would have hated it. But with automation, corporations buying back stocks, and cutting everything... We need to discuss this as a country.

[@calwianka]

Is the idea to create a permanent underclass of parasites through UBI?

[@kev3d]

I don't know if that is the intended purpose but that would certainly be the result.

[@hatersgotohell627]

Idk but under his plan you and everyone no matter their income would get that 1k a month. Unlike welfare now that says you can only get EBT, free medical, dentistry or section 8 cash assistance etc if you make below a certain threshold. That forces people to always keep below those minimums so they never lose it. So it depends which welfare system do you think works best, the one right now where if you make below 18k ish people with kids get EBT, meidcal, section 8 or one where we all get 1k a month together. I'm not sure entirely how it would work but it's interesting idea.

[@marcoduvall4404]

Thank God Andrew Yang was there to explain to Patrick that unemployment income is nothing like UBI would be.. there are literally millions of people in this country who did not receive a single penny.. this is ignorance at it's finest.. each one, teach one.. we can do better, we will do better 'Injustice anywhere is a threat to Justice everywhere.' - MLK

[@Anthonycheesman33]

Everyone knows Herman McCain lol .

[@AutoMotivatedTV]

Universal basic income may be the single dumbest idea I've ever heard.

[@DonP-gf5hn]

The second single dumbest idea was that you can think on your own, lmao!

[@ohlawd3699]

Agreed. 😂

[@doreenlahaie2884]

Larry Sharpe

[@LetterB2]

Australia has the 'doll' basically money from the government for not being able to find a job. In Australia we have career doll blugers, those who make it their day to day work to remain on the benefits & dis-incentivised them to work period. Then there is concession card, basically the government fills in the gaps where your income doesn't meet the threshhold of livable standard income, some not all will remain on a lower income to insure tax is taken at a much, much lower bracket, free childcare & other benefits instead of aiming for higher paying job. UBI is fantastic in theory, give someone a system to avoid work as much as possible & people will use & abuse it.

[@Paul-gf9fc]

Same thing here in Canada. What starts out as a good idea, often turns into a career for lazy people.

[@LetterB2]

@@Paul-gf9fc 110% - only way is make it on your own or sink trying. Society will benefit as a whole, yes their are times where helping someone is a good idea to get them back on their feet, allowing them full time help isn't a good idea.

[@Quawnn]

people will use and abuse anything, the small % of people who do that shouldn't prevent the majority of people from reaping a benefit that would make their lives much easier. We have welfare now, and people abuse it.

[@LetterB2]

@@Quawnn I am confident in saying centerlink abuse is not a minority and is quite the majority - bold statement to make, however I've seen it so much, young & middle age people, example couples claiming single motherhood to reap the reward, very low percentage of being found out and I know of 9/10 couples I am familiar with doing it, then you hear of entire towns within Australia being famous for this type of behavior. Its quite rampant.

[@Paul-gf9fc]

@@Quawnn we seen it here in Canada during covid where the government was giving out 2 grand a month. And you couldn't get people to go back to work once the offer came. Ubi will create even more lazy people.

[@francobola9920]

I really like how some randoms ladies not men , complained about losing their free income when there are guidelines about working to much and then you can go home , that's the point , you don't want to go to work everyday for free money

[@joeballer4036]

That’s kind of Yang to give out a mili like that to ppl who need it. Respect ✊

[@mrssmithh]

I like Yang and it seems his heart is in the right place. I disagree with UBI but I understand why he “feels” that is a good idea.

[@theohintemann9374]

UBI with work is called slavery.

[@Lord_of_the_Pies]

Patrick's question was totally loaded, we did not receive UBI it was for unemployment. I worked the entire time I never got a check, I got a couple stimulus but it wasn't a $1000 a month, it was hardly anything

[@hitherehemmingway5463]

All I know is that single 1200k stimulus was the biggest game changer for a lot of struggling families. I might only have my "anecdotal evidence" from those I personally know. But it's a heck of a lot more then 1/2. And that was a single check. All the other stuff the gov has done since COVID is far from a ubi model. And the income based payments they did in New York is also far from a working example as it was literally not universal at all but income based.

[@hadtocheathimtobeathim6549]

$1200 is peanuts, to anyone. Even those in poverty. Any one time payment of a pathetic amount like $1200 is just pandering. That’s all it is.

[@doublesushi5990]

@@hadtocheathimtobeathim6549 no lies.

[@pureabsolute4618]

Agreed with Andrew on incentives, etc. For example, Unemployment should be triggered on being laid off, and not on whether or not you find a job. Meaning if you are going to get 20K, you get 20K, even when you find a job. So if you need to reskill, you use that 20k to reskill. If you need to work at a restaurant while you search for another job, you can do that. If you need to, for example, get a car or use hotels for doing interviews or research, you can do that. And if you can just go right into your next job... you get your 20K, and can go on vacation to Aruba (showing my age).

[@miladrahim5437]

Definitely a boomer comment.

[@AliasHSW]

Montego

[@ianrossi4745]

Hoping for a Larry Sharpe interview soon!

[@sourishsaha8067]

Yang have the right problems figured but the solutions are bad. Except for the Sales Tax and VAT

[@hardcoreharro]

UBI can work, but it has to constantly means tests (i.e. change year to year) depending on market and labour market conditions. 2 years ago, UBI would be good to those in the very short term but presently not so much as the labour shortage and low economic growth are forecast still for the near future.

[@paulgee521]

I think it's a great idea to give Washington more money so they can distribute in efficient and moral ways to help people. What could go wrong?

[@shashank1630]

Yea let’s leave it to businesses and rich people…. That’s so much better

[@paulgee521]

@@shashank1630 Exactly. Bad, bad businesses and rich people are the problem. They constantly extract money from the people with their monopolistic threat of force! Great point, Shashank. Thank goodness we have the politicians to keep them straight.

[@shashank1630]

@@paulgee521 well if you want to vouch for trickle down economics - I guess that’s fine. I just don’t see positive results. I mean the government is pretty good… it built USA and also coordinate won the Second World War for us….. so let’s not act like they are a lumbering Incapable giant. Also upon winning the Second World War - they ensured the USD’s dominance around the globe ensuring decades of prosperity for the USA. So let’s cut the crap about blaming the government as incompetent.

[@paulgee521]

@@shashank1630 "It built the USA." WOW. You are fundamentally misinformed. Are you from the USA? Or you must be a millennial or Gen zer. Our govt creates the platform to let individuals thrive. Individuals primarily built the complex colossus that the USA is. Good and bad. Your reliance on the war paradigm as the example of preferred government betrays yours and the Left's supreme stupidities. You probably desire to live in a wartime society where individual freedom is traded for centralized control. People like you mplicitly put forth the model of the armed services as the model of efficiency as well. . China makes that tradeoff. You are so envious of the successful that you'd prefer to throw the baby out bc of the perceived 'badness' of everyone who has more money than you. Grow up. Work hard. Persist. If you prefer the corruption of filthy politicians, God bless. I think you're an idiot. I hope that 50.1% agree with me.

[@1911Zoey]

@@paulgee521 love the sarcasm. Lol

[@untzuntz3000]

Giving hundreds of billions to billionaires ✅ Giving a k a month to regular people ❌ The mind of the rich...

[@Curiousnessify]

pls sir may i have some more

[@masonholsman4110]

Podcast is popping off lately

[@zeroceiling]

Adam.. as always… going for the low hanging comedic fruit!