Universal Basic Income Explained by Patrick Bet-David

[@VALUETAINMENT]

Share your thoughts with Patrick Bet-David by texting 310.340.1132 or click here my.community.com/patrickbetdavid

[@redcrown0694]

All the tax and local tax generated from new consumers and new businesses was not put into account. The current system has not change and deficit is still rising. More Americans are in financial despair. The infinite money from consumers will turbo boost the economy. Patrick will have more clients and business accounts. UBI is key to this “adapt-adjust-pivot” economy. Adapt UBI. Adjust the VAT on goods. Pivot this ever changing economy.

[@p8entlyobvious383]

As soon as human were on the scene tbey started setting fire to the forests , the world was getting colder , eventually all the carbon would be deposited underground making the air thinner and colder . This guy rleally is a waste of time to listen to . He is a fast talker with a few facts to back up unsound ideas , providing the for and against global warming device is another method by which to hoodwink the masses , its a clever way of casting doubt on the theory being taken seriously in how much damage it will do , this guy is a scammer .? I think so .

[@bonniebabyboo3095]

@@jasonmiller1553 You "think?" Sounds like "socialism" at its best. Robots take over jobs, ppl unemployed, and "all" allotted a "one time, once a yr income" of 1200$ to spend "however he/she chooses." For the illiterate mind, that sounds like a "lot" of money. However, breaking that amount to speditures on just "basic needs" spells poverty. What would the cost of housing, utilities, and groceries a month look like. Hummm... this is a classic example of Glen Beck's "fictional" book, Agenda 21.

[@shidanearone9466]

Forget Yang. Right at the center of him, right in the middle ( right above his belly button ) , ( notice you never see him without a shirt on...?) Yeap, sorry to break it to y'all but around all that wonderful gooey cuddly Yang is a cold hard center of Yin. And if you are able to prepare yourself to fight the incantation of propaganda from all sides including invisible private interests, you will be able to see through the fog of war, across a battlefield perhaps strewn for thousands of years with millions of bodies and acts of horror and vengeance, through the chaos may you see through time and though the distance might be great, you will see each other, and you will see at the heart of Yin so feared is a perfectly round glowing vibrating heart of Yang. Your empathy shall be an example to even the most low for as the most high encompasses everything, so to encompasses and gives light unto the darkness. That leaves us three options. 1 do nothing, accept being phased out. 2 realize that often socialism which UBI ish is the bigger worser half of National Socialism. It's not bad to be proud to be from your country, but socialism usually sounds rosey to your in a gulag, or can't celebrate your culture. And take a more bipartisan approach and more engaged democratic position. 3. We saddle up the best ponies that have ever ridden, and go and get Yang's heart back. Yahhh. Whose with me.? Warriors for Yang Unite! Hear my battle cry and remember the oaths people took in the Game of Thrones and the Lord of the Rings. And then imagine poor heartless Yang, so much but could be so much more. They've got Yang's heart. #warriorsforYang #giveusYang'sheartback #AndWhileYourAtItZuckerburgsSoul...Please #guardiansofYin'sheart #hearttradesies #justkiddingdon'tupsetthevitalbalance

[@DiBaozi]

I get tired of these politicans who want to try these 'experiments' with citizens on the large scale (on the federal level or state level) yet they either have track record of failures or no successes on a local level or worse yet they want to try something they have no experience in at all. For example, CHAZ/CHOP is a terrible failure of a 'social experiment' that should've never happened given that the existing problems in the city, like high crime, needed to be way lower but can you imagine if the same politicans who thought this up then decided they wanted to do this on a national level? It would take people forgetting that track record and hearing a feel-good speech for citizens to allow those guys more power. People who forget history are doomed to repeat it

[@JawzX200]

Sorry pat but Andrew Yang’s plan is opt-in meaning that those with entitlements have to forego their benefits for UBI. This would drastically reduce the size of many federal programs as more people choose free cash instead of the incompetent government bureaucracies. love your videos other than that fact. I would consider myself conversative on economic issues and the freedom dividend would be a win-win for everyone. (Especially for the middle America impoverished rural towns which no one is paying attention to these days)

[@kev3d]

How do you think the Govt will know how much is being paid to any given citizen, when multiple entitlements come from various agencies that don't really talk to each other? On top of the payouts themselves, it would require a huge bureaucratic apparatus of reporting and inquiries.

[@ankkol2011]

@@kev3d fully agreed.

[@jerichomorcilla]

@@kev3d Are you talking about Andrew Yang's UBI in your point? Just was unclear, I understand people have concerns. I am fully willing to debate.

[@arnoldwatkins7655]

Anything can sound good on paper but it's the application of these high minded ideas will be another thing. Human nature dictates that once you feed the beast of "free shit" they're gonna want more then you're gonna have different groups trying to make the case why they should get a little more such as "single mothers" "blacks" and whoever else it will be just like every other entitlement program starts off as some noble idea that promises never to grow then you fast forward 20-30 years it's one of the biggest sectors of your economy and governments never reign entitlements in the economy collapses and that's how they get reigned in. It's the same ole story just a different narrator.

[@flagshipcrypto6663]

This is the greatest bullshit I have ever heard...why would you give the people who desperately need extra money the same amount as people who could’t care less about 1k extra per month???? It makes more sense to give a single mom with 3 kids more financial support than a single millionaire. Don’t you agree? By cutting all social welfare programs it would only be to the disadvantages to those who need it desperately. The only way for the poor and/or unfortunate to receive the same or more, taxed will have to be raised by EVERYBODY! I live in a European country where there is a VAT and I am not complaining, I love my country, but we do have pretty high taxes. However, the VAT is only paid by the buyer, so by the people in the end😂😂 I would love if you could convince me otherwise😉

[@ultrafuproductions]

I have met Andrew yang multiple times on his campaign trail mostly because I like how he is different from anyone in any party, and tbh he seems like a pretty sharp entrepreneur like yourself. I think that you really should bring him on the show if you can, he has said his plan would be getting rid of food stamps and some entitlements to pay for itself so I'd love to see him explain his plan in deep detail, or even maybe ask him to consider the negative income tax.

[@inspiregracevlogs2365]

That have done an interview

[@VALUETAINMENT]

Rj Barber III he’s got an open invitation.

[@richardparker123]

@valuetainment I’m not a Yang fan, but I would LOVE to see this, and I am sure he might be open to going on the show. I think we should all try to reach out to Yang to tell him to get on Valuetainment.

[@kev3d]

He's terrible. Money for nothing, a new national tax, and a federal bureaucracy to oversee it all? Lowering the voting age to 16? It should be raised to 21 if anything. He really wants teens who eat tide pods and lick ice cream they have not bought to vote. Yikes.

[@Brlitzkreig]

Well the US is already spending more than it can afford so spending the same amount would still be bad news

[@shehruzkhan3413]

please bring yang onto the show

[@defendord4265]

😂 None of the candidates dare to since they have to lie to get votes no matter if its big lie or small one they just want to get on the chair of presidency

[@ExtraordinaryLiving]

@Jolt Soyo Yang is yet *another RADICAL LEFTIST just like all of them in the Democrat Party!*

[@ExtraordinaryLiving]

I did not know anything about Yang (never heard of him) until he ran for the Democratic Primary, so I was neutral and was inclined to form a positive opinion of him by trying to learn more about him. Well, the more I learn (about him, the current Democrat Party agenda, the other sides, the "left", the "right", everything else in general), the more my opinion of him has turned negative ... he is yet another RADICAL LEFTIST just like all of them in the Democrat Party! I have always hold *conservative* values even though I am a registered NY Democrat (I will switch my party registration comes the new year) ... Yang is NOT for me.

[@sc0Obs]

YOU CAN’T STACK BENEFITS. You can’t get a housing stipend And receive your 1000. You should have done your own due diligence.

[@gwills9337]

He's misrepresenting it on purpose.

[@kev3d]

"You can’t get a housing stipend And receive your 1000." And how does the government know that without a bureaucracy that must communicate with all entitlement offices?

[@EasyMoneyGoat]

He’s a moron. This guy used to be legit but he’s a traitor now. He’s a Trump supporter who’s interviews conservatives because he wants to run for office one day. Patrick has become an annoying little sh;t

[@headbangtiger7564]

People who already receive more than 1k a month will just stay with their current benefits (subsidized housing, food stamps etc). And people who get less than 1k a month in subsidies will opt in to ubi. So this program is additive. He's right and he explained that. Think about it. Let's say I'm getting 900 dollar subsidy for my apartment, 600 a month food stamps, 200 a month electric subsidy I'd just stick with my current benefits. Now let's say I only got that 600 dollar a month food stamps then I'd opt into ubi which is 400 dollars more that the government is redistributing that it wasn't before. This program will cost trillions more a year while we are already 2 trillion in debt. It's a bad idea.

[@carylhalfwassen8555]

This sounds like the college education cost scam we presently experience.

[@Hunter-po8jy]

I like how he mentioned doing your own research yet missed key points of yangs proposal....

[@Exen88]

Bill Nog irony.. is strong in this guy today

[@javiervasquez29]

You got it wrong. All over 18 get UBI. Which means even people who aren't entitle to welfare will get UBI. Which means it will still cost from 1-3 trillion a year.

[@bostongeorge4006]

Javier Vasquez yang is talking about taxing A.I company to get the money. To pay the UBI system.

[@jhossepmartinez2586]

Let me guess... that’s who you voting for... still a great video.

[@macklu7571]

In regards his misunderstanding of having to chose UBI or Welfare, we can fix the numbers. Best case scenario(for UBI), everyone choose UBI over existing welfare, that's still $2.6 trillion(UBI cost) minus $450 billion(Welfare cost), or an additional $2.15 trillion. It's still expensive. He discussed and dismiss the VAT in the beginning as a means to attract more people to America which we don't need. I disagree with his assessment but wanted to point out he did cover it. Yang proposes VAT as a means to force Tech companies like Amazon to pay taxes. VAT is a federal consumption tax which the US had in it early days before switching over to an income tax model. While it's possible to add VAT, it's unreasonable to assume that income tax will not have to be reduced to compensate. IRS collects about $3 trillion in net revenue. To get an additional $2.15 trillion for UBI, the IRS has to increase revenue over 70%. Yang discuss the multiper effect of UBI money will boost the economy greater than the $3 trillion injected. I sure all economist will agree this to be true, but is it enough to offset UBI cost by getting an additional 70% tax revenue? I seriously doubt it, the math doesn't work out.

[@pasqualerossi6052]

Andrew Yang on Valuetainment, that would be interesting.

[@EasyMoneyGoat]

Yang would tear Patrick a new arse hole

[@pasqualerossi6052]

Millions Social Media it might be the other way around 😂

[@yaosteen]

@@EasyMoneyGoat - Not Yang's style, though I could see him persuading Patrick

[@brandontopete97]

@@EasyMoneyGoat yang isn't like that though lol. I feel like they would have a really good conversation.

[@JewTube001]

@@yaosteen yeah, yang doesn't go into discussions looking to destroy people. he's way more mature than that. and personally i can see patrick and yang agreeing on a lot.

[@teutons001]

I thought that your contents were well researched. But at least you've missed two things 1. Yang's UBI plan doesn't go 100% to people with some entitlement 2. Other ways to get money is using VAT on big tech cash flow. I thought you'll mention this because you talk about Dubai at the beginning of the video

[@williamdemaray8103]

He didn't tell you the whole truth about Dubai they import people from impoverished countries and use them for slaves do some research

[@corbinlinder2631]

@@williamdemaray8103 yep. My fiancé works there now and gets paid 1600 dirham per month, works 9 hours per day, 6 days per week($2 per hour). They provide accommodation(housing), however she lives in a house with 6 men and 1 other woman. It's borderline slave labor in my opinion, but she has to have that job right now... I can't wait to get her out of there.

[@corbinlinder2631]

@Mark Sesum Basically all of the jobs there provide working visas, which allows immigrants a legal means to work and live in that country. When I said she needs that job, it wasn't specific to one job in particular. It's all of them. The jobs there are contract commitments. Usually it's a 2 year contract. You are legally obligated to finish the contract, and if you don't you can be arrested and jailed. If you leave the country, you will be arrested next time you go back(to visit family for example). She needs a working visa because without it she would be required to exit every time her visit visa expires, and then fly back on what is essentially a perpetual visit visa. Not only is it expensive, but it doesn't look good in the eyes of USCIS, because she would be considered to be living in a country without being a citizen. Pretty much all of the jobs that don't require a college level education pay non-living wages. This is why they provide housing like I mentioned.

[@flagshipcrypto6663]

This is the greatest bullshit I have ever heard...why would you give the people who desperately need extra money the same amount as people who could’t care less about 1k extra per month???? It makes more sense to give a single mom with 3 kids more financial support than a single millionaire. Don’t you agree? By cutting all social welfare programs it would only be to the disadvantages to those who need it desperately. The only way for the poor and/or unfortunate to receive the same or more, taxed will have to be raised by EVERYBODY! I live in a European country where there is a VAT and I am not complaining, I love my country, but we do have pretty high taxes. However, the VAT is only paid by the buyer, so by the people in the end😂😂 I would love if you could convince me otherwise😉

[@IncanPete]

@@flagshipcrypto6663 You accidentally replied to an existing thread. Watch some official/better Yang UBI videos and you will learn. This dude here seems kinda ill-informed. Probably he's rich, and therefore, biased.

[@zazen69]

Get Yang on the channel and debate him instead of misrepresenting his ideas.

[@EasyMoneyGoat]

Exactly. Yang would tear this wanna be entrepreneur a new arse hole

[@arnoldwatkins7655]

@@zazen69 he mentioned a lot of people but you only honed in on your #mancrush... there is no such thing as "free" get over it

[@zazen69]

@@arnoldwatkins7655 Air is free idiot, but that's only because corporations haven't found a way sell it yet. It sounds a lot more like you are the one with the man crush. I'm sure you think Trump is a business genius too.

[@arnoldwatkins7655]

@@zazen69 I never mentioned Trump... I won't entertain you because you're an emotional "man" the whole cooperation's selling air is a dumb emotional idea... but you trust the government which is the only entity with direct access to your wallet via the I.R.S. whose edicts are enforced by men with guns all because of the rhetoric of so-called "well meaning" politicians

[@zazen69]

@@arnoldwatkins7655 You're projecting when you call me emotional, you replied to my comment first dude. Hell no I don't trust the government but it is there to serve the people and when automation causes mass unemployment it better be ready to help. It is not a matter of if but when it happens and there will be no where for most people to pivot to. Yang is much more informed than Patrick on this topic.

[@rageorge1369]

Pat, i think you have it wrong , I have been watching Yang and he always have said that UBI is NOT on top of the other entitlements. He has always said that they will be phased out and if one opts in, then you are not entitled to the others. Don’t get me wrong, I am not a fan of UBI but I think you got your wires crossed on this one.

[@ThatsRight1776]

It stacks on social security, the nations largest entitlement program and biggest item in the annual budget. It also stacks on SSDI. It also stacks on Medicare, the 2nd largest item on the Federal budget.

[@ludwigvonmiseswasright4380]

Milton Friedman was for UBI as a replacement for the bureaucracy of the other welfare benefits.

[@happygilmore2100]

Yang said it stacks on top of other benefits, go back and listen to his interviews

[@mkbcoolman]

@@ThatsRight1776 We are taxed specifically for Social Security and Medicare. How are these entitlements? Unless you're comparing it to something along the lines of "I'm taking $1000 out of my bank account because I earned it and am entitled to access it", then the argument doesn't make sense.

[@DjornNorthfield]

Pat, the key is if you opt-in Yang's dividend, you forego your other welfare entitlements. Edit: Amazon has been paying $0 in federal taxes for how long? Put in a VAT and scale back income tax.

[@Eric-pw4ip]

This is correct

[@thadoc5186]

For now.....

[@barongpants619]

I was thinking the same thing, but I think Patrick meant the additional entitlements were social security, medicare, military

[@SmashBrosBrawl]

It's not a dividend, it's tax payer wealth transfer.

[@DjornNorthfield]

@@barongpants619 your talking about spending commitments in the future, not welfare.

[@WalkerRunnels]

If you decide to take Andrew Yang's Freedom Dividend, you have to opt out of nearly all the entitlement programs.

[@lygolygo5554]

YO WHERE ARE YOU GETTING THIS INFORMATION FROM??? Yang has openly talked about how that does not work! If you take UBI , and loose everything else, HOW ARE YOU BETTER OFF?? #idiot

[@troybuckholdt]

@@lygolygo5554 ? Capitalism? Remove wasted overhead in government and allow individuals to be more efficient with their own money. If all our social benefits got cut off and became UBI, then I bet the benefit to these citizens currently receiving our beneiefts would at least double.

[@autophile525i]

@Lygo Lygo The lack of restrictions on the Freedom Dividend help. Another thing that makes it empowering is that each individual adult gets it in their own name. It has a built in incentive for marriage / coupling and multi generation households. There are certain programs that will not be reduced by the Freedom Dividend, Yang2020.com will have the details on that.

[@ThatsRight1776]

According to Yang's campaign site, the only thing you opt out of is SSI. His webite also says it stacks with his 'medicare for all' entitlement, social security, and that you can collect both "SSDI and the Freedom Dividend". His website does not get into mentioning 'housing stipend's', or TANF etc. The only thing his site says that you can't stack is SSI (Supplemental Security Income). He even has a policy page that says "Outside of programs such as the Freedom Dividend to raise them out of poverty and support their ability to provide food and housing for their family..." which certainly sounds like food-stamps, housing, and the "freedom dividend" would stack. And even if certain benefits such as SSI don't stack, that's splitting hairs over a program that's got a price-tag of $3 Trillion annually, especially when Yang wants to introduce other new entitlements and new spending on top of it like 'paid-family leave', 'prosperity grants', having the IRS file your taxes for you by "increasing the budget of the IRS by 50%".

[@sanchopancho1918]

Lygo Lygo he actually said if you receive let’s say 300$ in food stamps you get 700$ from the freedom dividend

[@SeanLei]

Couple things: 1. UBI is an opt-in program, meaning you CANNOT stack benefits from welfare 2. A Value Added Tax (VAT) is a way to collect taxes from giant tech companies that pay $0 in federal taxes 3. Thought you'd go into the VAT, seeing as every advanced country EXCEPT THE USA has a VAT

[@kev3d]

1.Requiring another giant government bureaucracy to determine who is being paid what by which agency. 2. "Tech Giants" might not pay corporate income taxes, but that doesn't mean they don't pay payroll taxes. In reality, no corporation, large or small, should pay any tax because corporations always pass the cost of any tax onto the employees in the form of lower pay, or reduced R&D or reinvesting, or higher prices, or a combination. 3.So what? Every other nation isn't the U.S.

[@anonymousdonor8084]

So does your minimalist philosophy include having the government manage your money? Would that be more “advanced “? Americans are not stupid enough to beg for vat on top of every other tax. So many euro-philosophers out there love their taxes! They want Americans to cozy up to the devil as well. Some Americans like him too; we call them democrats.

[@theindivisible]

First time I thumbs down on Valuetainment video.. Not because I believe in UBI, but because PAT is not informed enough or did enough research on this... smh

[@EasyMoneyGoat]

100% agree. He just wants to talk out of his arse. He’s becoming a lunatic.

[@ThatsRight1776]

Social Security stacks with the Freedom Dividend. Social security is the largest part of the current budget. SSDI also stacks with the Freedom Dividend. This is per Yang's own website.

[@JewTube001]

pat was always a bit weak when it came to politics. he's learning though.

[@codeChris]

I like your videos But on this one I think you missed some important part of his plan that remove all those cons. Here is response to con list. 1. taxes would go up: VAT would be approx half of where used else where. We need to switch to VAT cause you can't get around it like you can other tax loop holes. 2.Falling labor: data shows that labor dips slightly and prominently for students and mothers which makes sense. 99% of people don't want to live off of 1,000K a month. 3.another handout: It's also opt in. It will actually drastically shrink and hopefully remove over time alot of federal programs and their maintenance cost. You don't get both. This makes seance since the individual knows what is best for them and where they need to use the money. not the government. It also removes the "entitlement cage " where do to criteria it can be economically beneficial to stay on entitlements instead of working your way out. There is alot of entrepreneurship and thoughts that he elaborates on. Your concerns are logical. And there are several videos where andrew digs into these very concerns and addresses them. Given your business I think you are gunna like this guy once you learn more about his ideas.

[@kev3d]

1. "VAT would be approx half of where used else where. " For how long? The income tax started as a 1% over $3,000 a year. 2. "99% of people don't want to live off of 1,000K a month" So why reward the lazy 1% who would with money for doing absolutely nothing to earn it? 3. " It will actually drastically shrink and hopefully remove over time alot of federal programs and their maintenance cost. " How does the Govt. determine who is getting paid what and by what agency without a huge investigative and reporting bureaucracy? How are benefits counted? On the individual level, or by household? Other entitlements might fluctuate month to month depending on the entitlement (say, certain drugs are only needed certain times), how then does the UBI issuer know ahead of time what to dole out? And who is to say what the exact cost of a benefit is? Prices fluctuate even for the government.

[@codeChris]

@@kev3d 1. Saying taxes can go up or down in the future is a slippery slope fallacy. Why cut taxes if in future they might get reversed. Why add taxes in the future if it might get raised. Does that make sense? I would prefer to replace income tax with vat entirely. But regardless, vat needs to happen else it isn't fair large companies can get away with paying nothing in taxes. But small ones can not. Our current set up provides an advantage the bigger you are and the more resources you have to find loop holes. 2. Why punish yourself for what someone else chooses to do? Why would you rather give them other programs that encourage them to stay in that life vs the one that promotes they get out. I say the individual can help them selves out with 1,000k more then the government can. Do you disagree? Should 99 people who would benefit there local economy and their families and have a over all positive effect suffer just so we can stick it to 1 guy who is going to game whatever system he is apart of? We can't think like this. Let's concern ourselves with the help we can give 99%. I want you to think of everyone that is important to you. If just those people got 1k extra a month. Do you think they would be better off? Now think about yourself. If just you got 1k extra a month do you think your life would improve or not? Those lazy people did earn it. They are a US citizen and participate in the economy. In fact what's cool about this is when you think about it. People who normally participate little can do more. And those who are not citizens will put money into it as well. 3. I don't understand you are saying people need more money? Are we complaining the government programs overhead cost to much? Or we should give them more money? If someone currently with food stamps gets 1,000k cash vs 1,400k on food stamps. They have more. The individual can determine how much they need for food. And can use that extra cash where else they need it. Also work local economy spending more job needs go up. So opputunity rises for some low end work they could get. Even if it's part time. And they won't lose there money because they make too much or start working too much. Saying costs go up and down and fluctuate is true. But once again I would argue the individual can stretch 1k better to thier specific needs more then the government can FOR them with even more money. 1k had different value in different states. This will also provide the opputunity to shovel around people in the "cost of living free market".

[@codeChris]

@@Hardy_Productions Sorry, can you clarify this statement, I am open to hearing what i missed?

[@MyplayLists4Y2Y]

I usually like Valuetainment videos, but Pat really misses it with this one - Thumbs Down! 1.) Pat is using a "false equivalency fallacy" here - Andrew Yang's UBI proposal is just one of numerous versions of the UBI concept, and is not representative of UBI as a whole. 2.) Pat uses the "omission fallacy" by not addressing the fact that people who are freed up by a UBI from having to struggle to eek out a basic existence can turn their attention to more entrepreneurial endeavors that they feel passionate about because the "basics" are paid for - thus leading to a better success ratio, and dramatically increasing tax revenues! 3.) None of the innovation disruptions Pat mentions that have occurred in the past can even come close to the impact that A.I. and modern robotics is going to have! This is not about lightbulbs replacing candles, this is about machines (A.I. robots) that can DO EVERYTHING BETTER THAN HUMANS CAN! Yes, cars replaced horses, but cars didn't MAKE DECISIONS BETTER THAN HUMANS UNTIL NOW! A.I. is a whole different ball game Pat... talk about adapting Pat, I think you need to do some adapting, adjusting, and pivoting when it comes to understanding the impact this next wave of technology is going to bring!

[@tysondehaan3722]

How much “basics” would $1,000 a month cover. The answer is not enough for people to become entrepreneurs. Your entire comment to his video sounds like a high school pothead.

[@MyplayLists4Y2Y]

@@tysondehaan3722 SAID: " How much “basics” would $1,000 a month cover. The answer is not enough for people to become entrepreneurs." REPLY: The $1000 a month figure is Andrew Yang's idea, not mine, and not indicative of UBI as a concept. UBI can be executed in any number of ways, and Andrew Yang's version of UBI doesn't seem plausible. You may want to delete your comment, kind of embarrassed for you, you obviously missed the point.

[@tysondehaan3722]

That’s the quickest reversal I’ve ever seen. You were just trashing the video because of “fallacies” and now you can’t even defend the points you made. You completely deflected to “its his idea not mine.”

[@MyplayLists4Y2Y]

@@tysondehaan3722 My original comment was "Andrew Yang's UBI proposal is just one of numerous versions of the UBI concept, and is not representative of UBI as a whole." -- that in no way endorsed Yang's proposal. Try again.

[@bftjoe]

But this time it's different. Wow what a strong argument, where is your newsletter???

[@thaojerry83]

Disappointed in this vid. AY says UBI is opt-in meaning choice. Need to interview the man himself.

[@WithFaizanKhan]

HANDS DOWN THIS CHANNEL IS ON THE NEXT LEVEL !!!

[@UnathiGX]

AMEN

[@Adrien.Y]

Chill, he's misinforming you (if he meant to or not) Income inequality is the issue where pat lumps everybody into one "Jones Family". Very few will profit immensely monetarily from AI directly Let yang himself tell you about his policies

[@WithFaizanKhan]

@@Adrien.Y This Channel Is Not For You, Go Watch Some Cat Videos or Prank Videos.

[@Brlitzkreig]

Hands Downs This is Patrick UNHINGED!

[@MarioBermudezJr]

@@WithFaizanKhan Google Yang 2020

[@danielmunoz-lifeideas5124]

yang says you will have to choose 1K or hand out programs! i dont think you read his policy cite

[@lygolygo5554]

HE NEVER SAID THAT wtffffff

[@lygolygo5554]

YOU AND SOCIETY ARE WORSE OFF IF YOU LOOSE YOU BENEFITS.

[@lygolygo5554]

UBI IS A RESPONSE TO THE SHRINKING JOB MARKET and AN ECONOMIC STIMULUS

[@autophile525i]

He did say that over 1 Trillion of the cost of UBI would be covered in reduced payments through existing welfare programs. So there will be some overlap that doesn’t “stack”.

[@flagshipcrypto6663]

This is the greatest bullshit I have ever heard...why would you give the people who desperately need extra money the same amount as people who could’t care less about 1k extra per month???? It makes more sense to give a single mom with 3 kids more financial support than a single millionaire. Don’t you agree? By cutting all social welfare programs it would only be to the disadvantages to those who need it desperately. The only way for the poor and/or unfortunate to receive the same or more, taxed will have to be raised by EVERYBODY! I live in a European country where there is a VAT and I am not complaining, I love my country, but we do have pretty high taxes. However, the VAT is only paid by the buyer, so by the people in the end😂😂 I would love if you could convince me otherwise😉

[@Rebel084]

Damn. Never thought Pat would be ill-informed about Yang smh

[@EasyMoneyGoat]

Patrick has really become a Trump-tard moron. Lost all respect for him.

[@Y0ukhana]

​@@EasyMoneyGoat Not once did he mention Trump. Not once did he say anything negative about Andrew Yang. He only presented Yang's policy, an alternative, economic facts & information that you & most Americans don't know. It helps people inform themselves. Do you think the numbers ad up?

[@EasyMoneyGoat]

Y0ukhana he didn’t mention trump but he is in fact a trump supporter.

[@EasyMoneyGoat]

Y0ukhana His numbers don’t add up. PBD is severely uninformed.

[@cyberrock9018]

Millions Social Media idiot your ass won’t see yang ass president he’s vat tax won’t pay he said this on the h3h3 podcast and I really recommend you to see the channel called don’t walk run production it exposes yang!

[@danielmunoz-lifeideas5124]

straight from yangs page - "It would be easier than you might think. Andrew proposes funding the Freedom Dividend by consolidating some welfare programs and implementing a Value-Added Tax (VAT) of 10%. Current welfare and social program beneficiaries would be given a choice between their current benefits or $1,000 cash unconditionally - most would prefer cash with no restriction. A Value-Added Tax (VAT) is a tax on the production of goods or services a business produces. It is a fair tax and it makes it much harder for large corporations, who are experts at hiding profits and income, to avoid paying their fair share. A VAT is nothing new. 160 out of 193 countries in the world already have a Value-Added Tax or something similar, including all of Europe which has an average VAT of 20 percent. The means to pay for the Freedom Dividend will come from 4 sources: 1. Current spending. We currently spend between $500 and $600 billion a year on welfare programs, food stamps, disability and the like. This reduces the cost of the Freedom Dividend because people already receiving benefits would have a choice but would be ineligible to receive the full $1,000 in addition to current benefits. Additionally, we currently spend over one trillion dollars on health care, incarceration, homelessness services and the like. We would save $100 - 200+ billion as people would take better care of themselves and avoid the emergency room, jail, and the street and would generally be more functional. The Freedom Dividend would pay for itself by helping people avoid our institutions, which is when our costs shoot up. Some studies have shown that $1 to a poor parent will result in as much as $7 in cost-savings and economic growth. 2. A VAT. Our economy is now incredibly vast at $19 trillion, up $4 trillion in the last 10 years alone. A VAT at half the European level would generate $800 billion in new revenue. A VAT will become more and more important as technology improves because you cannot collect income tax from robots or software. 3. New revenue. Putting money into the hands of American consumers would grow the economy. The Roosevelt Institute projected that the economy would grow by approximately $2.5 trillion and create 4.6 million new jobs. This would generate approximately $800 - 900 billion in new revenue from economic growth and activity. 4. Taxes on top earners and pollution. By removing the Social Security cap, implementing a financial transactions tax, and ending the favorable tax treatment for capital gains/carried interest, we can decrease financial speculation while also funding the Freedom Dividend. We can add to that a carbon fee that will be partially dedicated to funding the Freedom Dividend, making up the remaining balance required to cover the cost of this program."

[@kev3d]

Whenever I hear a candidate say ""It would be easier than you might think." I begin to panic. And by the way, #2 is contradicted by #3. The UBI is meant to give income to those who lose their jobs to innovation, so where are these jobs supposed to come from if everything is being eliminated, necessitating the UBI in the first place? "1. Current spending. We currently spend between $500 and $600 billion a year on welfare programs, food stamps, disability and the like. This reduces the cost of the Freedom Dividend because people already receiving benefits would have a choice but would be ineligible to receive the full $1,000 in addition to current benefits." Yeah, requiring a giant government apparatus to determine who is being paid what from which agency.

[@MarioBermudezJr]

@@kev3d Jobs can be as simple as paying your neighbor to babysit for the summer. Giving $1000 to people will create local jobs.

[@ThatsRight1776]

@@MarioBermudezJr AI will replace local jobs, Andrew Yang and Mark Zuckerberg said so. Be afraid, be very afraid.

[@joshuab464]

Thank you sir!!!!

[@osse1n]

I think universal basic income runs a risk to make people even more depressed. That doesn't give them incentive to go out there and create value for others, which robs them opportunity for self-actualisation. Let's face it, very few are self-reliant to do that, without a necessity of providing for themselves.

[@mama-cg5ri]

Yeah the higher paying employee are going to pay it to the lower paying employees it’s very disgusting strategy to enslave the human family

[@jameszhang1127]

$1000 a month UBI is dire poverty in America.

[@femmeNikita27]

Problem is that according to most recent estimates AI in retail will put out of work most likely 40% of current female workforce. And this is huge issue since this part of workforce has little assets and small "time budget" to invest in upskilling to find another job.And welfare of both elderly and kids depends on females. So all countries have to do something to face this issue. Also given the fact that retail was workplace of choice due to flexibility of working hours and due to proximity to home or daycare or education institutions. Not sure if UBI would be the answer. Probably not alone. And yes inflantion risk is very real. But we will have to address this issue somehow since it's not going to go anywhere and both future of kids and already retired people what is a huge budget issue for each country depends on it. Personally I am all ears to all possible solutions anyone can come up with. Preleminary results of using UBI show that how people resond to it depends on who they already are, not on UBI alone. Those who are depend on social care stay this way, those who aare already actively using for upskilling opportunities do use it to upskill. So at the best UBI is probably neutral in nature as a form of social care system.

[@think_query]

Hey, didn’t the data from the European countries that tested this on a small scale said that it made people more happy, but didn’t affect much in other areas?

[@bryan805]

Great vid, but some of your points about Yang’s UBI contradict what he’s proposing. You also left out how he intends to fund it. Would love to see you interview him to clarify his proposal.

[@faceofdead]

Invite Yang to Value town man. He is the best next big thing.

[@zohcold]

Youre wrong - opt in option (you take welfare or you give it up and take ubi) - you do keep SSI THOUGH.

[@troybuckholdt]

Social Security is a terrible problem. Listen to Milton Fredman talk about it. We are all much better off without it.

[@ThatsRight1776]

You're wrong. SSI is the only entitlement that Yang specifies you can't stack. SSI is supplemental security income. His campaign site does not indicate other entitlements can't be stacked.

[@anonymousdonor8084]

Casa Station The option does not eliminate the existing programs. I think that there are many people who receive far in excess of $1000/mo

[@ThatsRight1776]

@@anonymousdonor8084 Yep, some people receive way more than $1,000/month for just for not working. For example, in Hawaii, a single mother can recieve $610/month in TANF cash benefits (Federally funded program). $819 in SNAP (aka foodstamps, also federally funded through the USDA). Medicaid $$$??? Plus grants and subsidies for education, unemployment benefits from SSI, LIHEAP, probably other programs I'm not aware of.

[@richardparker123]

I think we should all message/DM/ @ mention Andrew Yang, so we can get him on Valuetainment. Maybe he can explain himself. (And I’m saying this as someone who is not a Yang fan and plants to vote for Trump)

[@KEVINLOPEZ-np4kj]

we can all explain it for him. what questions do you have?

[@mattwanders2704]

Another thing people forget is there is a difference between general and narrow AI. We are much closer to narrow AI which will cause the economy to restructure, like you mention, but in the end could generate so much productivity and material wealth there will be no such thing as needing a basic income.

[@KungFuChess]

Not correct.. Yang's plan reallocates funds away from other programs, military etc, add VAT, and tax financial speculation not print new money. Opt-in to UBI would also eventually phase out redundant programs.

[@ThatsRight1776]

Not correct. 1. Yang's UBI doesn't phase out anything. If you have a choice to opt in that means many people won't which means those other programs you are referring to won't phase out. 2. $3Trillion/year is 75% of the federal governments total expenditure. There is no way on earth Yang is going to cut other government functions 75%. I don't care how many new taxes he proposes, because not only would those slow growth, but there is no way it would be enough, especially considering he has other expensive policies he wants to enact such as medicare for all and increasing the IRS budget by 50%.

[@Ro7770]

They better replace 2 out of 5 jobs. If your job can be done by a robot it is a dry spiritless job you secretly hate and doesnt promote the highest values a human being can pocess. We've been taught to memorize and idolize information but we are greatly ignorant about the heights of human potential.

[@solomonelijah]

yes socrates!!

[@ShadaeBalancesKnightAstro]

Socrates Because human potential is mostly discouraged if it is not tied directly to corporate benefit. Individual potential/originality is mostly culturally frowned down upon.

[@obrienjackson6907]

Truck driver make over 50 grand a year

[@obrienjackson6907]

Factory and warehouse can make 26 dollars an hour it not about enjoyment it's about worth and the enjoyment comes second.

[@MyDrawingTutorials]

One thing I find interesting is that most of the incorrect predictions by these geniuses were wrong because they UNDERESTIMATED the power and dramatic progress of technology... "We won't need more than X amount of computer storage" "Nuclear power is unobtainable because the atom can't be split at will" "Smartphones in everyone's pockets is a pipe dream" "Everything that can be invented has already been invented" etc. To me, this seems to suggest that the people who doubt that AI will be able to do everything better than we can are underestimating the power of technology and more likely to be wrong. But in any case, thank you for the thoughtful video, I learned a lot :-)

[@pongkham143]

I love the universal basic income idea. Although temporary, but it’s a start. The problem is greed. Change our believes/mentality about how each individual should behave because we all are different. Have compassion for our neighbors and the less fortunate. Poverty and environmental factor will prevent and hinder people from making it in life. I’m tired of hearing stories about how hard my mom or dad work and they made it with out govt support. We willingly accept corporations accepting bailouts, but we squabble amongst one another about helping each other. We need to also start with the root of the problem like fixing our education system, more support for people with mental disabilities, keeping people out of the prison system and building support systems, taking care of our elders, and etc. If we can have UBI and all the much needed programs. We may start to enjoy living instead of just surviving.

[@dcnosbig]

Thank you for your comments. I abhor the idea of UBI. Why? First its allows someone else to set my worth. I drive rideshare platforms, am a realtor, invest in real estate, and see my self as a creator (entrepreneur). The government (politicians) wants to say "hey, don't worry, I will take care of you and your family". Its not their job to provide for me and my family or you and yours, yet everyone seems to have this false belief that it is. Government should protect our borders from threats that would disrupt our well being and ability to prosper, provide the means for commerce (infrastructure improvement}, and establish laws which promote civil discourse and interaction between parties who engage in commerce. I believe in abundance within the universe not lack or scarcity. Greed is not an issue, The belief that it is is based on the premise that a select group of people have amassed resources that others cannot .No one is stopping you from being a creator, except you. Not environmental conditions (economic or geographical), nor lack of education (your access to information is nearly unlimited at this point in history). There are more resources and avenues for prosperity for the individual than has ever existed in human history Develop a skill or produce a resource or product that the market needs, and you will become wealthy. The rise of A.I. is inevitable for it is progress. Yet, if we don't see it for what it is, only a select few will benefit from its inception. Farming removed us from hunting and gathering. technology is a tool for growth not an excuse to relax and be entertained. Because of better innovation we were able to explore the world and prosper from its wealth. Now, is not the time to stop being inventors and explorers. Now, is NOT the time to stop being creators! Now, is the time to look for new areas of exploration, to expand the horizons of our consciousness ( mentally and physically). The problems that we face now, such as, poverty, homelessness, global warming are all problems with can solve together if we start looking for solutions on a higher plane of thinking..if we continue to look for solutions where we have always looked to solutions from, particularly from politicians. whom get elected primarily be promoting fear, then we will continue to suffer. The whole concept behind UBI is that you need to be taken care of, you don't need to be taken care of, you only need to learn how to take care of yourself and find solutions for your life that meet your unique, individual needs. P.S. for all those who think their particular situation is unique and can't be remedied. I lost my hearing 8 years ago and am deaf..every problem, no matter how unique, has a solution. I found my mine. I hope this helps you find yours.

[@trts5934]

Social security and Medicare aren't entitlements! People pay for them their whole lives.

[@angelocaporizzo632]

Trayan Tsonev exactly

[@cuatrocinco2186]

True. AN entitlement is something given with no investment. People pay on these their whole lives.

[@GreetingsWithFire]

That’s not how it works. Workers pay for retirees social security. Your money is not saved until retirement.

[@mingliu1485]

Do some research on Andrew Yang!

[@donfransisco9404]

8:10 im pretty sure he said the opposite of that🤔

[@codeChris]

ya, he actually makes it a very clear point constantly when people ask how you pay for it.

[@ArmoredNeko]

When a random video gives Yang more screening time than all the MSM combined....

[@SIMSNYC]

Pat please have yang on i thought he was crazy until he broke it down

[@SIMSNYC]

Thought he must be out of his mind but when broken down doesnt sound so crazy

[@ibanezdudeck]

As an engineer, my experience has been that customers are asking for more automation, not to cut cost, but because they can't find people willing to operate heavy equipment. We've had the same problem with finding qualified welders. The robots aren't stealing the jobs, people are giving away good paying jobs by not pursuing them.

[@troybuckholdt]

Patrick - Just you admitting you know even one of Milton Friedman's ideas lets all all know you're a hardcore libertarian.

[@faledeia1]

You should interview him. Some of your assertions regarding Yang proposal is inaccurate.

[@ryanp.8988]

Yang's proposal would eliminate all entitlements for people who opt-in for UBI, cmon bro

[@jimd1617]

UBI is opt in, and it does NOT stack on top of current programs. Please interview him on the show. #securethebag

[@howardgstrecke]

AI replaces thinking humans. This is not the same as other forms of modernization.

[@howardgstrecke]

@Brock Lesnar Alpha Male problem solved 😊

[@tysondehaan3722]

AI as we currently have can only learn what they are programmed or designed to and typically only do one thing. Humans have the ability to innovate, problem solve, adapt to an infinite amount of things.

[@howardgstrecke]

@@tysondehaan3722 driving jobs comprise 30% of the American work force. Retail sales make up a big chunk of jobs for women. All of this is being replaced by Amazon and whoever the leading autonomous trucking company will be. The problem is that everyone is waiting for what the next big employment boom will be but no one knows what it is. More work can be done by less people so what happens when there are no jobs available?

[@tysondehaan3722]

This change doesn’t happen overnight, it happens slowly. That’s why he gave many examples of innovations that replaced jobs, yet we don’t have massive unemployment.

[@howardgstrecke]

@@tysondehaan3722 when you keep cutting your work force in half ie. less cashiers at McDonald's and more automated kiosks, less bank tellers because of online banking, huge factories and warehouses with only a few people working in it because most of the systems are automated, you end up displacing lots of people in a cumulative effect. When the horse and buggy was replaced by the automobile, every other job function wasn't being outmoded at the same time. That's why the rust belt in the US is still called the rust belt for the last 30 + years. Those areas haven't recovered fully to this day. Once again if there is some unseen industry that will rise out of nowhere an alleviate the low employment situation, that's great. But if all the automation keeps shutting down malls then UBI might be the best way to offset lost wages and employment

[@brandontopete97]

Please invite Andrew Yang to your show, that would be awesome.

[@jamesdean7412]

Pat how didn't you realize that these Billionaires are very well researched ? I'm a 10 year successful Business owner. #YangGang. But I believe people shouldn't start at zero.

[@shanedustin3931]

The best channel for entrepreneurs on KZbin.

[@michaelnurse9089]

Patrick, I like the way you peel the onion but you are missing two massive figures from your income statement. 1. The increased US economic activity from the spending of the 3 trillion. 2. The increased revenue from AI driven products and services.

[@tysondehaan3722]

The increases in revenue will come from AI regardless of UBI. The economic impact of the three trillion is zero because that money was already in the government’s hands, it was getting spent one way or another.

[@nafisb.i.5839]

You have to watch him debate UBI against Krystal Ball on The Hill channel. I’ve never seen one person owned so hard before.

[@matrixman8582]

AI will create a self employment economy based on entrepreneurship and investment

[@ThatsRight1776]

WTF are you talking about? You're words don't make sense.

[@matrixman8582]

@@ThatsRight1776 It's simple. People will find other things to sell than their labor

[@ThatsRight1776]

@@matrixman8582 Oh I see, well I partially agree with that. So you are opposed to implementing UBI then, correct?

[@matrixman8582]

@@ThatsRight1776 Absolutely. Where do u agree and where do u not?

[@ThatsRight1776]

@@matrixman8582 Well I think 'labor' will still be salable for many many decades, but there will be less demand for it as AI becomes more advanced and does some of the tasks humans previously did, but only some as AI isn't nearly advanced enough to do everything humans do, and AI technology, software, and hardware is expensive. So I agree with your initial statement, just not that there will ever (at least not in our lifetime) be a complete lack of need for labor. And I'm also completely opposed to UBI at this point in time.

[@willryan5508]

If the UBI helps anyone it will increase consumer spending, demand and therefore prices. After prices increase people will demand a higher UBI and the cycle will continue creating rampant price inflation. The only way this will not happen is if the UBI doesn't help anyone gain more access to goods and services, defeating the purpose of the policy. If humans could legislate or print our way into prosperity, hard work and entrepreneurship would not ever have been necessary!

[@javierportet939]

Inflation is caused when there is an increase in the supply of money, UBI would just be redistributing that money. Inflation would increase, but it would be minimal. At the end of the day, automation will lower prices anyway.

[@willryan5508]

@@javierportet939 That's why I said price inflation not general monetary inflation. I speak and think accurately

[@Je.rone_]

*If the repetitive history of innovation is any indicator of what may happen in the future, I'd state it is always easier for us to see jobs will be eliminated, but not what jobs will be created. the minds of that future have not yet been awaken.* 💪

[@gwills9337]

Look at the economics, the marginal job added per unit of "technology" is going down. WAY DOWN. The job return on tech is negative on purpose. The 'savings' from hiring less people is converted into private wealth for stockholders. Yes, there are lots of better uses for humans time than working a job that makes someone else rich.

[@Je.rone_]

@@gwills9337 Do you but stock to get a part of that wealth?

[@DARIZU]

UBI would be a mistake. It would remove man from the decision making process. That being said not sure what the solution is. Your calculus is correct, no county can afford UBI at the current state of affairs however when machines do start to take over production they will do everything better than people by orders of magnitude. You can't compare that economy with today's economy. Today UBI is no good...but there will be a breaking point. Also, yes automation happened before and people adapted. 98% of people were working in the field now under 2%. The first wave of automation came for the human muscle and people found jobs that required the human intellect. This second wave of outomation is for the human mind. There is no other dimension we can migrate to. I am not sure what the solution will be if there is one and I do agree with you, until that breaking point we don't need UBI or anything like that. After that it's a whole new story.

[@obrienjackson6907]

Solutions are only meaningful after it's executed with success. Sadly doing nothing isn't solving things. The longer we wait the deeper we are. Or maybe it's already too late.

[@HitonMusic]

There need to be some limiters to increase in UBI spendings. You can't implement UBI while avoiding negative long term consequences without solving: 1) Lobbying 2) The way politicians try to gain votes by promising voters unsustainable programs 3) Absence of limit to redistribution in constitution

[@CaleMcCollough]

I love how Pat presents data; he is a real CEO. One handout makes sense. Juicing up the current system sounds like government waste. I like the Negative tax better.

[@SantaBarbaraAlberto]

Interesting... Not sure I would equate Milton Freeman negative income tax is to UBI. Negative income tax according to Freeman was to circumvent Government beurocracy to deliver aid in the safety net. Nothing to do with UBI other than a comparison. The video was great. We support Freeman's negative tax idea.

[@adendoomsayer9800]

Alberto Santa Barbara County CA that is because Andrew Yang is a intellectually dishonest piece of shit and all the but fucking retards that follow him.

[@tyrelleshepherd2038]

I agree with you that innovation replaces jobs but I believe the huge difference between the past and present innovation which led to job replacement is automation of technology. In the past, cars, lights, phones, etc. still required a human body to operate them. With present day technology and plans for automation, this almost entirely eliminates the need for a human body. Example: I work on satellites and within the last 10 years they have been automating a lot of our systems. Now, a job that took a crew of 10-20 people to do can now be handled by 3-5. furthermore, future plans are to completely eliminate the need for a day-to-day crews. Seeing that impact on a national scale would be eliminating a lot of jobs. I am in favor of automation and innovation of technology. I'm also in favor of looking towards some form of UBI. I just disagree with simply telling people to adapt-adjust-pivot, which has been proven in the past to not work, is the incorrect path to take. I can't say if Andrew Yang's plan for UBI is solid or not because I don't have that knowledge but I do think he's definitely on to something that other politicians fail to see. I have been following Andrew Yang a little and your argument in this video about his plans for UBI I feel is slightly off. It seems you missed some small but significant details like "opt-in" and also explaining his plans for paying for UBI. This potentially would have changed your numbers either slightly or tremendously. If you could do an interview with Andrew Yang and ask him some tough, detailed questions, it would greatly benefit us all.

[@juanapiteh]

Those who argue in favour of U.B.I. stand to profit from A.I.

[@Tradinginthezen]

alien_DNA rather you in favor or not, they gonna profit

[@maxamillion5175]

Agreed

[@inspiringbrainofficial]

The telephone replaced the mail man's job but it created 5 more jobs that's how innovation works

[@KEVINLOPEZ-np4kj]

so many mis-statements and non thought out concepts by you Valuetainment. I am disappointed. you need to do alot more research. Your arguements are very basic and Yang has repeatedly refuted claims like yours

[@Nunyabusiness40]

The Alaska Oil Royalty isn't meant to bring in more residents to live in the state..... Jay Hammond, the governor who passed the fund, said it was designed to be an investment where at least 25% of the oil money would be put into a dedicated fund for future generations, who would no longer have oil as a resource.

[@LIBERTASorNEX]

Exactly we don't want more people here. Another problem is oil contractors hiring out of state workers who don't pay a dime to the local economy. They don't pay income tax go to work get on a plane and go home. The permanent fund doesn't offset in the slightest the high cost of living either.

[@DjornNorthfield]

Yang 2020!

[@readcastor2977]

Lol. See you back here after Trump wins landslide victory!

[@DjornNorthfield]

@@readcastor2977 oh I know right? Still a fan of Yang but no way he gets the nomination.

[@readcastor2977]

@@DjornNorthfield he is definitely better than the rest of the Democrat candidates tho that's for sure!

[@paulimmaraj4787]

Social security and medicare are not entitlements. We pay into this program from our paychecks.

[@rafaeldelacerda2633]

PBD please make a come back video on this bc you did Andrew yang wrong here!

[@FutureLaugh]

I know your channel is known mostly for business/finance but its so refreshing to see some basic economic education up on here. Somebody has to say it- being an entrepreneur is in synergy with being self determined. thank you

[@mikebarstad1538]

You're misinformed about Andrew Yang's Freedom Dividend.

[@305Independent]

Andrew Yang actually said that the Freedom Dividend would be opt-in and you cannot receive it if you receive other forms of welfare. Also he said the goal is to eventually replace all the means-tested programs and Social Security with the Dividend.

[@arshdeepjosan1065]

If AI goes mainstream and lets say it replace all human jobs .. then how will businesses make money if there is no one to buy their products or services. And something like that will never happen , there will always be human jobs of somekind and UBI is doomed

[@leonoradompor8706]

Our family is building new simple commercial center without loans !

[@leonoradompor8706]

Lowest tax the more currencies money is flowing vastly !

[@ebbiesweetngood9966]

UBI would save money. Think of all of the families receiving assistance for food, cash, housing, utility, and Earned Income Credit. Only question is would this continue to create a society where ppl expect hand outs

[@ryansmithwell]

Well done. America can’t afford UBI and you did a great job showing that.

[@henryjiang9990]

How do videogames replace jobs? I feel it creates jobs.

[@williamrebune5588]

creating jobs means some lose their jobs

[@shallfadi]

This channel is something else. Always thankful for the internet to have given us easy access to such brilliant minds. Patrick, you've been on my list of Idols and mentors for a while now. Thanks for all the knowledge

[@jeffdorris5321]

That's what I think about the most AI technology, and the US dollar losing purchasing power.

[@anthonyromeo9875]

I respect u, this isnt me hating, but honestly, this time is different. Humans have stayes viable in the market because we can think and adapt. But when u have something that can think and adapt faster and cheaper people cant compete, end of story

[@rudrajoshi5081]

Hello there. An AI engineer this side

[@thinkingoutside970]

PAT that is such a great visual on the numbers. When you started by saying the Jones family makes 36 k and has 1.75m in debt i said there's no way anyone would loan that much with so little income. Then when you showed it as the nation it scared me. You're a great teacher. Thanks for all you do.

[@readcastor2977]

Where does this free $1000 a month come from? Oh yeah, most likely right out of the middle and upper classes pockets that they actually worked hard to earn! Nothing in this life is free!

[@solomonelijah]

Read Castor i disagree with the idea of the redistribution of wealth in our society. i think it causes so many problems and goes against the natural human tendency to seek status, improvement, and innovation. however, what solution do you propose for the problem? i don’t like the idea of a few people working hard to take care of others who don’t work at all. but what happens when there is simply no work left? i could be wrong , but i think of income as a byproduct of adding value to society. if robots are doing all the labor and providing all the value, but don’t get paid, that just means the people who own the robots get all the profits and people who do not own similar technologies have no opportunity to. this is just how i understand it, but i am open to discourse.

[@leongruneberg4844]

Yeah it took lots of hard work for them to become rich. Just not their hard work and often it was the work of people hundreds of years ago.

[@MoneyGrowthAcademy]

I love the channel and your level of discussion on an important topic. You can add as your discussion of entitlements Farm subsidies $20 billion a year, Oil subsidies combined with state incentives $20 billion and Corporate subsidies of $20.5 billion. Combined for over $60 billion in subsidies! Great subject matter as always. Thank you for producing such great content.

[@HowellConsultations]

To YOU reading this, 6 months from now YOU will be in a better situation !! Hope our channel helps alot !!

[@sportexploreandfood3961]

Yeah I hope so

[@HowellConsultations]

@@sportexploreandfood3961 💖🙌💖

[@larkgabez2680]

this channel provides so much authentic value! smartly straightforward and honest. i resonate a lot with the insights here

[@larkgabez2680]

@Amthehardest i wasn't concerned about that part specifically but he lied for what merit?

[@alphagabriel2671]

Yeah thx for giving me money after yoy steal it from me with taxes

[@reverenddickie8116]

Here's why Automation today is different. Cars replaced A job. Just one type of job. When we automated manufacturing, it replaced A job, just one. They all had options to find employment elsewhere. The automation wave that's not just coming, but currently rolling out as we speak will replace ALL jobs. Period. Retail, Military, Teaching, Doctors, Lawyers etc. They're all going away, and we're about to find ourselves with nowhere to turn for employment, with the exception of self employment. You of all people know that most people simply can't do that. It takes a rare breed to be self employed. Musk said, and I fully believe, that there's not a single job or career on the Planet, that a robot or automation cannot do AND do better than you do. We're not talking about simple machines from the 1980's anymore. So we can all kiss our employment goodbye in the next 10 years, with no hope of finding any more elsewhere. This will leave 300+ million Americans homeless and starving faster than you'd think. Mass riots and absolute civil war will follow. Or.... We can at least start a UBI, and give people a chance of survival while we attempt to re-think the economy. But us sitting here doing nothing will result in the end of us.

[@ThatsRight1776]

SMH, none of what you just said is going to happen in 10 years.

[@reverenddickie8116]

@@ThatsRight1776 First, just watch. It's already happening now. Retail is about to be a thing of the past. #1 job in the whole U.S.... Second, let's assume you were somehow right. So your objective is to just... Do nothing? Status quo? Wait for Superman? I'd rather we work this stuff out now, than wait until it's a giant crisis and people kill each other over water.

[@willryan5508]

The purpose of a business is production not employment. Jobs are a side effect of entrepreneurs needing people to produce xyz, if production can increase without humans there must be efficiency gains and reduction in prices which will serve other self-sustaining entrepreneurs. The workers will then become superfluous, many of them were bred by governments simply to be tax batteries, but the future doesn't need them and ou population can be reduced in equilibrium with nature

[@prince00thieves60]

I'm enjoying this channel more and more with each video I see keep up the work. Super educating and unbiased!

[@Onnethox]

You can't survive on your own with 1k a month, also if you live with your parents, you can make way more than that by working at a grocery store.

[@MS-ql8ek]

Pat, you're the best that I watch on KZbin

[@geno816]

If I didn't know much about this I would say good video. But since im really familiar with yang's plan.. I've noticed that it is incorrect on many levels. I would advise everyone do research themselves

[@houston2k]

Hey Patrick. Love your channel bro, but I think you’re way off on this one. Please remake the video or have Andrew Yang come on your show to explain it. Thanks 🙏

[@gkk2001]

I loved the analogy of a families budget/cash flow carried to the Federal cash flow. Excellent. 👍

[@lopezmario4633]

Loved this!! Cheers from Chile!

[@mutargasti5965]

pat you inspire me and you know what this valuetainment gives me more value than I ever receive from anything else on youtube. you rock buddy. extensive research and lot of cool facts,youre really amazing.

[@CarlosGutierrez-ip6ys]

I like your channel and watch it all the time. But you have some misinformation about UBI and what Yang is proposing. Let me start by saying I’m an entrepreneur and a RE investor ( manage and own apartments). 1. Yang said UBI would be given to people if they decide to opt out of Welfare programs. Not both, 2. Social Security is not an “entitlement” it’s pretty much a savings account for when I retire. The Govt/ different sides call it “entitlements” 3. AI is not just going to be a small interruption, by the numbers it has shown that it will take away up to 29-36% of jobs which fall under the middle to low income of America. (Retail, trucking, fast food, etc). If you go into a Walmart, you can already see it, tons of Self checkouts, less people going to Main st stores and buying in Amazon. We already have a huge homelessness problem, and that will keep getting worse. 3. Yang does have a plan in place to pay for the 3 trillion, which he has explained throughly and to me it makes sense, and not because it helps me directly, but because it’s a plan that helps every American, not just the top tier of Americans. To me the VAT tax will help and also Bernie’s plan to put a small tax on every stock trade would help as well. It will also help the volatility of the stock market by curbing the day trading and speculative trading. I don’t really get into politics, but look at it this way. President trump gave a Tax Cut to the top 1-5% of the population, (which most of them said, we don’t needed it, and they where showing record profits) but we gave it anyways, with the understanding that it would help the economy and raise GDP. No one calls that a “entitlement” but at the end of the day it is An entitlement because the tax payer pays for it. Farmers got a 12B dollar tax cut/bailout no one calls it an entitlement but it is, because again tax payers pay for it. Now someone with a very comprehensive plan comes up with UBI at $1,000 a month ( which we all know will not stop people from working) you can’t survive off of 12k a year, we call it an entitlement and has a bad stigma to it, that’s why it’s a called a freedom dividend. I’ll end with this: give the top 1% a tax cut, they hoard it and not pay taxes on it, to me that’s not the way, Give everyone 1k a month and they will spend, govt collects more taxes, business collect more revenue, more stores stay open, more money flows into the economy, win/win

[@davidspangenberg3860]

Pat, enjoyed your analysis and perspective as always. As others have pointed out, there are some errors in your analysis of Yang's UBI platform. Would love to see your in-depth analysis of what a successful implementation of UBI would look like, and of course it would amazing if you had Yang on the show.

[@sterex100]

Would've been interesting to hear your thoughts concerning the taxation of tech companies. If I remember correctly, Yang proposed to use tech money instead of oil royalties to fund UBI. Still wondering how this should work though.

[@Felineblood]

You are so reasonable, insightful, and your arguments are well thought out. Thank you for being a light in the world and educating the masses

[@lifeis4living_]

Worth keeping this vid in my archive 👍🏾

[@happy_thinking]

I like Milton Friedman's idea more, but Yang's version of UBI is quite similar as well. From what I heard on his videos he plans to get the funding by abolishing the current programs, not build on top of them. So the sum of 3 trillion comes down to 800 billion and the rest of the money he will raise it from a new technology tax if my memory serves me correctly. @Valuetainment You should correct your facts about Yang's ideas.

[@rainernaid4378]

In germany there is a philosopher who talked about a "transaction fee" of about 1% - that means, every transaction (company or private person) will be taxed 1% in order to pay everybody (in germany) an universal income. especially with new technologies - robotics and ai - an universal income makes even more sense.

[@pylianpbappe8898]

Don’t you know Pat? You can’t criticize Yang on the Internet or his army will berate you. This is coming from someone who likes Yang’s personality and character, but disagrees with him on some policies.

[@riccardopolacci6501]

Don't fear the change, embrace it. 💪💪💪