Andrew Yang gang bang on a train in Spain?

Andrew Yang wants to start UBI in the US and give every one over the age of eighteen $1000 per month. Personally, I think this is probably better than our current welfare system, but not a sustainable or realistic replacement. What happens when someone spends their $1000 on CRYSTAL METH and can't afford food or housing or healthcare? Is UBI a good idea? Bad idea? Would you let Andrew Yang bang you on a train in Spain in the rain while listening to John Coltrain?

WSO Elite Modeling Package

  • 6 courses to mastery: Excel, Financial Statement, LBO, M&A, Valuation and DCF
  • Elite instructors from top BB investment banks and private equity megafunds
  • Includes Company DB + Video Library Access (1 year)

Comments (19)

Sep 22, 2019 - 2:45pm

That's the move, methadone is one of the cheapest drugs. The half life also makes it nearly impossible to quit

Gun rights activist
  • Analyst 1 in CorpDev
Sep 22, 2019 - 9:52am

I like this measure and think it would be beneficial to some degree if it could happen, but the human rights groups would be all over this and find a way to spin it as a sort of genocide. Incentivizing the uneducated and unfit to parent to stop procreating is the only way to effectively shrink the welfare gap. People constantly try to argue "what if you're preventing the next Einstein from being born", but lets be real here. That's MAYBE 1 in 1,000 kids who will come from these environments and become notably successful by comparison to the other 999 that just continue the negative cycle. We've proven that nurture > nature when it comes to raising a child to become successful, and by continuing to support people at the bottom rungs of society we're just perpetuating children being born into home environments that cannot nurture them into being successful. You have to address the problem at its root, and at its root there's a shit ton of people who should never have kids having kids. I'd gladly pay a bit more in taxes if I knew it was going towards investing in a future with less children being born into poverty.

Learn More

300+ video lessons across 6 modeling courses taught by elite practitioners at the top investment banks and private equity funds -- Excel Modeling -- Financial Statement Modeling -- M&A Modeling -- LBO Modeling -- DCF and Valuation Modeling -- ALL INCLUDED + 2 Huge Bonuses.

Learn more
Sep 21, 2019 - 10:20pm

Hmmm.... Yang sounds Chinese. I know Chinese are from China. China is a communist country. By the transitive property, Yang bust be a commie.

Jokes aside. UBI is never a good idea IMO. There is simply no way that any governmental body can make sure that people spend that money smartly and not on drugs and alcohol. Also, who's gonna be paying for that? The taxpayers.

Lots of rich people are already evading lots of taxes. But the regular folks can't really "legally" evade taxes. So it just really hurts the middle class.

Sep 22, 2019 - 1:24am

You probably weren't serious but yang could be Korean or Taiwanese, both democratic countries though you could argue they are somewhat socialist with their established social welfare system. His parents are from Taiwan according to Wikipedia so he's taiwanese american.

  • Analyst 1 in PE - Other
Oct 13, 2019 - 12:07am

your thoughts seem to contradict with what Yang says on how tech corp is paying for it, sure it is passed onto the consumer in the end, but seems like only luxury is taxed, hitting the upper/elite classes.

Oct 14, 2019 - 9:21pm

Yeah but how is he going to make that happen? Everyone who says he'll make corporations to pay more taxes end up not doing that for many reasons
1) Lobbyists everywhere
2) Pressure from benefactors
3) Compromises made with other group

He would probably end up targeting the upper middle class, who make enough but don't actually have enough clout to exert political pressure.

I say Milton Friedman all the wa

Most Helpful
Sep 22, 2019 - 9:40pm

What's the unemployment rate today? 3.7%? UBI is a solution in search of a problem. It's predicated on the idea that Americans are about to be (or have already been) made redundant by technology. This is simply not the case. Not yet. And not for the foreseeable future.

One thing that annoys me to no end about proponents of Yang's UBI plan is how they conflate it with a negative income tax, which is an actually really good idea that could potentially replace the welfare system. The negative income tax incentivizes work and economic growth (hiring, job training, etc.). UBI, OTOH, is essentially a Keynesian scheme that is predicated upon the idea that $1,000/month will, in large, part be repaid through economic growth, which is simply not true.

With all that said, I signed a petition yesterday for Wang to make it onto Virginia's primary ballot. I still think he's a good and decent guy. I just disagree with him on everything.

Array

  • 3
Start Discussion

Total Avg Compensation

July 2021 Investment Banking

  • Director/MD (9) $911
  • Vice President (36) $363
  • Associates (209) $232
  • 2nd Year Analyst (120) $152
  • 3rd+ Year Analyst (28) $146
  • Intern/Summer Associate (100) $145
  • 1st Year Analyst (442) $133
  • Intern/Summer Analyst (357) $82