Apr 15, 2019

2020 hopeful Yang: $1,000 a month dividends would boost the economy

Photo: Don Emmert/AFP/Getty Images

Democratic presidential hopeful Andrew Yang told a CNN town hall that giving every American adult a $1,000 per month "freedom dividend" would help stimulate the economy.

What he's saying: "This would create 2 million new jobs in our economy," he said, in response to a question on artificial intelligence contributing to job losses. "It would make children and families stronger and healthier and help tens of millions of Americans transition through what is the greatest economic and technological transformation in our countryโ€™s history."

Why it matters: In a Roosevelt Institute report, it estimates a proposal such as Yang's could expand the U.S. economy by 12.6% to 13.2%. Other countries have explored versions of universal basic income like Yang's idea, including Canada, India and Finland, to mixed results. Stockton, California, became the first place in the U.S. to experiment with the funding mechanism, after it began an 18-month guaranteed income trial in February.

The other side: Critics have questioned the funding of such a program. Marshall Steinbaum, an author of the Roosevelt Institute report, told CBS MoneyWatch in February thata if the basic income were paid with value added tax, "you undo all of those gains because you're causing poor people to pay for this, which undermines the argument for why we need a UBI to begin with." He believes taking on government debt would be a better way to fund the scheme.

Andrew Yang: Everything you need to know about the 2020 candidate

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America's future looks a lot like Nevada

Illustration: Sarah Grillo/Axios

Today's Nevada caucus will foreshadow the future of American politics well beyond 2020.

Why it matters: The U.S. is in the midst of a demographic transformation, and the country's future looks a lot like Nevada's present. Today's results, in addition to shaping the 2020 race, will help tell us where politics is headed in a rapidly changing country.

Coronavirus spreads to more countries, and U.S. ups its case count

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

The novel coronavirus continues to spread to more nations, and the U.S. reports a doubling of its confirmed cases to 34 โ€” while noting those are mostly due to repatriated citizens, emphasizing there's no "community spread" yet in the U.S. Meanwhile, Italy reported its first virus-related death on Friday.

The big picture: COVID-19 has now killed at least 2,359 people and infected more than 77,000 others, mostly in mainland China. New countries to announce infections recently include Israel, Lebanon and Iran.

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