by Simon Black
Tuesday night after the New Hampshire primary, US Presidential candidate Andrew Yang dropped out of the race due to his poor showing.
If you’re not familiar, Andrew Yang famously proposed a Universal Basic Income for all US adults: everyone would have received a “Freedom Dividend” of $1,000 a month under his plan, funded through a national sales tax.
This means that everyone would be paying more tax, but then that tax money would come back to you through this ‘freedom dividend’.
This strikes me as incredibly inefficient. Instead of taxing people and then giving them money, why not just cut their taxes and let them keep their own money?