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Scott Santens Addresses Andrew Yang UBI Inflation Concerns



Wouldn’t Unconditional Basic Income Just Cause Massive Inflation?
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Nick von LiphartThe Dharma ReportShimon FrankelShashwat mishrajerrydesu Recent comment authors
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HAhahA Haha
Guest
HAhahA Haha

Someone send this video to msnbc/CNN and demand them to show this on national TV.

riahasays
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riahasays

Omg thank you soooo much for this video!! Omg you my man need to be on Yang Cabinet!

Dale Splitstone
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Dale Splitstone

Just as tariffs increase the cost of goods, a VAT increases prices. UBI financed through a VAT is inflationary.With regards to housing, you have to realize that houses are not portable. Having empty houses in Utah does nothing to alleviate homelessness in Seattle Washington. In a free market economy, new housing would be built in response to "free money", but policies such as zoning interfere with free market economy in most places.The homeless in many cities are not unemployed, they are employed, but do not have enough earnings to afford housing in gentrified cities, while many empty houses are in… Read more »

Knight Artoras
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Knight Artoras

We're not printings money. So no inflation.

YangGang
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YangGang
Ernest Lai
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Ernest Lai

There seems to be some confusion regarding VAT and its effect on inflation. I come from a country where we switched from a Sales Tax system to a VAT system where the tax rate remained the same during the switch over. Basic foods like milk and bread was still zero rated so it did not affect the poor. The main reason for the switch over was that the Sales Tax system would only collect the tax at the final stage of the product cycle I.e. at the consumption stage. This resulted in tax fraud when cash transactions were involved. With… Read more »

NL M
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NL M

Thank you for this video. I think people who are against UBI use any excuse they can think of to block it. Where were these people’s concerns when the banks were getting bailed out with new money

OG BillBob
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OG BillBob

You're content is so good. Thank you for sharing.

Nicholi
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Nicholi

Please share this with Michael brooks sam Seder styxenhammer Kyle Jimmy dore and Niko status coup..what other fauxprogressives am I missing

Simien Hill
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Simien Hill

There will be a policy that prevents companies to inflate their prices over a certain limit. It’s that simple

jelbert87
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jelbert87

You, my friend, are doing God's work!
٩(๛ ˘ ³˘)۶♥

Alex Nikolich
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Alex Nikolich

I'm pro UBI, but I have only one dangling concern which nobody has been able to address. Upon implementation of UBI, what's to stop money-starved, large metropolitan cities (mostly Democrat) from gouging away at its citizens in the form of property and other taxes? I think a UBI bill would need to be tied to any Federal dollars disbursed to local governments in order to keep this from happening. Without such a measure, I'm afraid the power given back to the people in the form of UBI would just be 'confiscated' by local government, especially in dense, urban environments. As… Read more »

Wendy Love
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Wendy Love

The UBI coupled with health care that keeps people from bankruptcy …..do you think people will accept the fact that this is our money…our country and we still have a democracy?…..people…give yourself a raise…you deserve it.

johncrab67
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johncrab67

It seems to me UBI would solve to a large degree, the gigantic problem we have with food waste. We produce much more than we need. You'd think prices would be cheap right, well no and why not. Well, because of waste aka: shrinkage. Everyday grocery stores throw billions of tons of expired food in the trash. Which of course finds it way to land fills where it breaks down creating green house gases. And, those lost food item means prices on the next set of food item will have some of the cost from the lost food item attached… Read more »

CCCircuit
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CCCircuit

That teded video is technically true but factually inaccurate, The fed controls valuation, not inflation. There is no such thing as deflation in our current monetary system. Inflation is a function of loans. For more on this see "money as debit".

Alexei Vasilkov
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Alexei Vasilkov
jerrydesu
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jerrydesu

Inflation should NOT be the concern – quite the opposite. AI causing the loss of jobs will be deflationary, so UBI will be needed to counteract that. Remember, UBI is only stimulative if you keep your job. If you're transitioning, rents and house prices could drop. Once people find their place in the new economy, then adjustments could be made if needed.

Shashwat mishra
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Shashwat mishra

If you think yang is lame you must vote for him now so that he loses to Trump in generals

Shimon Frankel
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Shimon Frankel

What the hell does "and so forth and so on" mean? Does it mean you're not sure what to say next?

The Dharma Report
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The Dharma Report

I continue to be thankful to Yang for bringing both UBI and Automation into the American conversation.

Moses Chen
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Moses Chen

If you want to vote for Yang make sure to register as Democrat.

gangcai2876
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gangcai2876

If you live in San Francisco, there are only 100 homes available for rent. There are 120 people want to rent homes. With UBI, everyone has money, so only the 100 people will pay high rent to get homes. That is inflation. You could say we can have rent regulation. Most rent regulation has side affect. For example, landlord cannot evict single mom. The consequence is basically, single mom almost not possible to get home. Another example, in San Francisco, it has rent control, but highest rent in the USA, because landlords know, once the home is rented out and… Read more »

Jimmy Ray
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Jimmy Ray

What would happen if the majority of dividend recipients were to not spend the money they’re receiving?

J Y
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J Y

Video: UBI comes from money that already exist in circulation, just changing hands.
Problem: that money ($3 trillion per year) doesn't currently exist *in the government coffers*. So, at the very least, for the first year that money would need to be printed, increasing inflation.

J. A. P.
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J. A. P.

This video is not visible in my liked playlist. Youtube has been
shadow-banning some videos. I have witnessed this kind of censorship on
Youtube since before 2016. But it has gotten way worse.

nhan khuu
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nhan khuu

Inflation is a reset button. It only changes who would hold more power. For example super rich people hold large sums of money locked up. They can't return it to circulation fast enough. When they don't pay their employees from either wage gauging or automation. They can't spend fast enough therefore we have hyper deflation. When we print 2.8 trillion and give it to those who would circulate money they will drive the economy. It will devalues the stale money held by the 1% but it won't hurt them and we aren't stealing from them.

TF4D 150
Guest
TF4D 150

I think this guy is missing the point. We are not printing or making more money. The billion dollar company is being tax and their money is going to the people. To keep it simple, think of Yang as Robin Hood stealing from the rich and giving it too the poor.

Tai-Chen Lin
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Tai-Chen Lin

Car industry… when the middle class all gets 1k a month… who will buy these wasteful internal combustion engine cars? Who can't afford a Tesla model 3 or model y? How will Ford, GM, Chrysler, Toyota, or Honda survive? Who won't be able to afford solar panel? Penguin won't have to wait… our green tech will have a whole new market outlook.

LXF
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LXF

Do taxes create inflation? Then neither should ubi. It is a tax on tech companies put into the hands of Americans. It is not printed money.

spaceoutization
Guest
spaceoutization

Exactly!!!
No dollar printout = no inflation
At this point, the people just wants to hear that inflation will not happen. Anyone who is pushing hard for this concern will not be able to reason with.
UBI provides direct increase in economic power for the consumer. Wage income is important but is still gated behind the employer/seller.

And don't even get me started with a job guarantee program. Another stigmatized institution? Productivity? I digress.

John Ishii
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John Ishii

Just give me the Grand and let me deal with inflation! I'll take the chance , the homeless guy under the I-5 bridge ain't gonna care about inflation.

Kostya Zhang
Guest
Kostya Zhang

UBI is not creation of new money (like printing money), it is redistribution of already existed money and will not cause inflation. This is trickle up healthy economy and not hyper inflation self destructive economy, learn your economics. #Yang2020

Nick von Liphart
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Nick von Liphart

decreased consumer spending=increased savings (sometimes in commodities other than cash) = more capital available for investment and levelheaded entrepreneurship. Deflation is a natural part of the economy, unlike the belief that a central bureaucracy can continuosly, and properly, adjust the supply of money through printing and setting interest rates on gov bonds. Interest, or the price of money taking into account time preferences, is far too complex a figure to be dictated, and any arbitrary rate will not be as accurate as prices arrived at in a market. Putting off downturns in the market through bubble creation only worsens the… Read more »