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Andrew Yang on Google, Amazon helping pay for his $1,000-per-month UBI plan
Posted on 8/20/19 at 7:20 am
Posted on 8/20/19 at 7:20 am
quote:
"I'm happy to say that I have hundreds of techies who support me on this. They're not all a--holes," Yang said.
Yang said some of these supporters are people who work for big companies such as Google and Amazon. In fact, the Yang campaign has a list of technology leaders it says have pledged $1,000 or more to the campaign it calls the Tech 1,000. Yang's campaign says the list includes Twitter and Square founder Jack Dorsey, Open AI CEO Sam Altman, Zappos CEO Tony Hsieh and Google product management director Scott Johnston.
quote:
"Amazon is the most prominent example. Amazon is [a $1 trillion] company that literally paid zero in taxes last year, and that's not unusual. They routinely pay zero or near zero in taxes," Yang told the Times. Amazon, which currently has just over a $900 billion market cap, paid $0 in U.S. federal income tax on more than $11 billion in profits before taxes in 2018 and received a $129 million tax rebate from the federal government.
"Companies like Facebook, Amazon, Twitter, and Google are the clear winners in this economy right now and yet they aren't paying much in taxes, so a VAT would hit them harder and force them to pay their fair share," Yang campaign spokesperson Madalin Sammons tells CNBC Make It.
LINK
Let the hand wringing begin. These mega-tech corporations pay nothing to at most pennies in taxes. We can easily institute a VAT and fund UBI.
26
Posted on 8/20/19 at 7:23 am to OleWarSkuleAlum
Why don’t those companies just make direct payments to whoever they want?
Posted on 8/20/19 at 7:24 am to OleWarSkuleAlum
He's so full of shite. Why would these companies support this?
Posted on 8/20/19 at 7:25 am to OleWarSkuleAlum
quote:
Let the hand wringing begin. These mega-tech corporations pay nothing to at most pennies in taxes.
In income taxes. They pay plenty of taxes.
quote:
We can easily institute a VAT and fund UBI.
Consumption taxes are better than income taxes, and we should institute VAT taxes because other countries already do and it fricks us on trade.
As far as it easily funding UBI, no. I still appreciate Yang’s ambition and rooting for the Democrat Party to embrace people like him.
Posted on 8/20/19 at 7:26 am to OleWarSkuleAlum
quote:
so a VAT would hit them harder and force them to pay their fair share," Yang campaign spokesperson Madalin Sammons tells CNBC Make It.
Wrong.
A VAT is a pass the buck tax where every section in the supply chain is paying it, not a mere single entity. They raise their pricing to cover the VAT and it’s still a zero sum game for FedGov
Posted on 8/20/19 at 7:27 am to TeLeFaWx
I'll never support a VAT until the 16th amendment is repealed.
After that, VAT away
Full disclosure : I'm 100% for the FairTax
After that, VAT away
Full disclosure : I'm 100% for the FairTax
This post was edited on 8/20/19 at 7:28 am
Posted on 8/20/19 at 7:28 am to OleWarSkuleAlum
Buying elections, all around.
Posted on 8/20/19 at 7:30 am to OleWarSkuleAlum
quote:
We can easily institute a VAT and fund UBI.
So the govt takes money into one pocket and passes it out of the other.
Brilliant!
Posted on 8/20/19 at 7:33 am to OleWarSkuleAlum
Still amazes me that so many people do not understand taxes in general or the fact that there are so many more taxes than "income tax"...
Posted on 8/20/19 at 7:35 am to OleWarSkuleAlum
quote:
We can easily institute a VAT
On top of sales tax, property tax, excise tax, luxury tax, income tax, etc., now you want to add a VAT on top of it?
You know that the economy is resistant to taxation of much more than 19 to 21 percent.
My biggest problem with a VAT tax is what is it for? It's a "just because" tax.
Posted on 8/20/19 at 7:37 am to OleWarSkuleAlum
quote:
Andrew Yang on Google, Amazon helping pay for his $1,000-per-month UBI plan
Good, let the commie bastards send their money down another rabbit hole. It is good for Trump's economy!
Posted on 8/20/19 at 7:38 am to OleWarSkuleAlum
Lol a yang Wang supporter is actually worse than a fricking Bernie bro.
Posted on 8/20/19 at 7:39 am to TeLeFaWx
Here’s the thing:
We already have state sales taxes. Oh... and most states have an income tax too. Many also have property taxes too. And hotel and car rental and event taxes... And an income tax by the feds. We are hit on so many levels, it’s insane and totally unfair.
But Trade off a federal income tax for a federal sales tax and I’m down.
Here’s what’ll happen though. Just like in Europe, we’ll get a sales tax and we’ll keep the income tax.
Vat taxes are sneaky though. I’d rather an add on sales tax done at the register.
We already have state sales taxes. Oh... and most states have an income tax too. Many also have property taxes too. And hotel and car rental and event taxes... And an income tax by the feds. We are hit on so many levels, it’s insane and totally unfair.
But Trade off a federal income tax for a federal sales tax and I’m down.
Here’s what’ll happen though. Just like in Europe, we’ll get a sales tax and we’ll keep the income tax.
Vat taxes are sneaky though. I’d rather an add on sales tax done at the register.
Posted on 8/20/19 at 7:40 am to The Maj
It is embarrassing that the op managed to graduate from LSU. We can only hope it was in liberal arts since he doesn’t understand anything business related.
Posted on 8/20/19 at 7:51 am to Big4SALTbro
quote:
It is embarrassing that the op managed to graduate from LSU. We can only hope it was in liberal arts since he doesn’t understand anything business related.
Learned everything I know from KSaul
Posted on 8/20/19 at 7:51 am to OleWarSkuleAlum
I have a better chance I being elected POTUS than Yang does and I don't support the "free shite" ticket
Posted on 8/20/19 at 7:51 am to OleWarSkuleAlum
Just to clarify, Yang is saying he’ll give every citizen $1,000 a month?
If that’s the case, he’s got my vote locked up
If that’s the case, he’s got my vote locked up
Posted on 8/20/19 at 7:55 am to OleWarSkuleAlum
Or institute a VAT on internet commerce and use it to pay for the entitlements that already exist that we currently can’t afford. That is, reduce the deficit before starting any new entitlements.
Posted on 8/20/19 at 8:00 am to OleWarSkuleAlum
If the high tech companies want to do this then why don't they just do it. Do they need a law for this?
Posted on 8/20/19 at 8:13 am to pwejr88
quote:
If that’s the case, he’s got my vote locked up
Classic - burn the whole building down to get your share of the ashes.
Can none of you UBI motherfrickers do math? Give or take 250 million adults - $1k per month, that's $250 billion - PER MONTH. $3 TRILLION per year.
There is no amount of savings from SNAP or Section 8 or social security (which will all remain intact, regardless of UBI, even if there are reductions or offsets) is going to make $3 T pop in out of thin air.
So, we'll have to print it. Which will make your $1000 a month worth about tree fiddy.
This post was edited on 8/20/19 at 8:14 am
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