It's a 'dividend' that everyone over 18 gets, including Jeff Bezos. Like Alaska or Norway's oil dividend, but funded by a VAT tax on technology, which Yang rhetorically positions as a semi-public resource.

The total cost of a $1,000 UBI would be $2.8 tril annually, Yang's 10% VAT would cover half. I don't know what he proposes to account for the difference, probably cutting redundant programs and some amount deficit spending added justified by increased growth.

It sounds like maybe you agree with eliminating the welfare bureaucracy and replacing it with direct payments, or perhaps negative income tax (which was Milton Friedman's version iirc), but not that type of UBI. I personally think either would be good, the positives for UBI being it's simple and easy to disburse to everyone, no issue with cut offs or incentives or stigmas, maybe it helps social cohesion.

[Post edited by hoodeyo at 12/17/2020 6:32PM]