Andrew Yang - The " VAT" A Deeper Look

Welcome back to the channel. Hope you're having a great day. So Andrew Yang had recently sat down with NPR, and I caught some of the, the show, the interview, and, uh, the VAT— the VAT had came up, value-added tax. If you, if you're not, uh, sure what that's all about at this point, VAT stands for value-added tax. It is a tax that targets consumers through sales at point of sales. And it is a very effective way of stopping people from avoiding taxes. You know, people are quite clever, corporations, entities, quite clever at avoiding taxation, setting up offshore accounts. And, you know, a lot of times what they can do is they can avoid paying their fair share of taxes. Um, and so the, the VAT has been used effectively across Europe, Canada. Um, and it's a very aggressive VAT. Uh, the one that Andrew Yang is proposing, uh, is about a 10th of the VAT that they're using in Europe, right? Just to kind of put it in perspective. So today we're going to take a deeper look at the VAT because the VAT to me is one of those things that need a lot more attention. And it was interesting for the NPR to bring it up in the interview because I, whereas in the earlier parts of the campaign it came, came up quite a bit. I don't quite hear about it as much, but when I do hear about it, it's usually as a talking point against Andrew Yang. There are certain parts of his policies that are looked at as going to be problematic. And I really think that those are the areas that a lot of time and attention needs to be focused on because they seem to be what scares people from agreeing with Andrew Yang's policy and his plan. So let's talk a little bit about the differences of Andrew Yang's VAT, understanding some of the details of it and why it is different from, um, the VATs that they've heard the horror stories about before. So first, understanding how the VAT targets at point of sale through every percentage a sliver of every sale, every transaction online over the internet. It targets those particular— so you're gonna pay a tax at the point of sale, so it targets those particular purchases or transactions or what have you. But the big concern and basically the misconception Um, is that poor people are going to suffer, right? That comes up a lot. We had a lot of people in the thread, so hopefully we're going to clear that up today. So let's understand Andrew Yang's VAT. First of all, Andrew Yang's VAT will recognize, um, parts of the society and the economy that are needed products, right? Like in the NPR interview, he brings up, um, if it's something like diapers, right? First, uh, couple, first baby. Um, I remember, um, being invited to a baby shower or something like that, and I was trying to bring gifts, and I was asking in the stores, I were asking people like, what kind of gifts do you get for a baby shower? And things like that. And, uh, came across some parents, and they were like, well, you know, in the beginning of we really need a lot of diapers and Pampers. And that was a big burden. I had never thought about that as a gift. I was thinking about everything but diapers. And obviously I'm not a parent, so they get very, very expensive, right? And then she talked about milk and this and that. Um, but you know, I said, okay, well, that would make some great gifts. So I'll get them some diapers and whatnot. But in the case of a VAT that's going to hurt those starting out families, poor people with children and the like, What you have to understand about this VAT is Andrew Yang could just as easily decide that the VAT not apply to the purchase of diapers, right? Is that clear? So when we say, oh, the VAT's gonna hurt poor people, that is not true. This VAT is a tailored VAT, right? Now it comes up in the interview, who gets to decide where the VAT goes and where it doesn't go? And they say, well, obviously it'll be up to Andrew Yang because it's part of his policy, right? But I see no problem. And through data research, as Andrew Yang is a numbers man, I see no problem why he can't just use that same data to see what products count along the lines of basic necessities, what's gonna, what's a problem for needy families, low-income Americans to purchase and things like that. Shouldn't be very difficult to work out a table of where you need to tailor that VAT, where you need to focus it. Now, obviously, if you're going into the Gucci handbag store and you're walking out with Gucci handbags, that the VAT's gonna probably target those areas. So, you know, there are so many ways to do this VAT. Also, you know, keep in mind that the VAT is only about attempt of the average VAT that's happening around Europe, that's happening in Canada, right? So even if the VAT has to be more tailor-made, uh, and even if the VAT reached levels, uh, like that in Europe, you know, if it had to come that, if it went 10 times what it is, what Andrew Yang is proposing, uh, with the $1,000 per month Freedom Dividend, you know, as Andrew Yang brings out, it's gonna be very difficult for consumers to eat up that entire $1,000. The price of everything is going to have to almost double according to Andrew Yang's research for it to affect people that negatively, right? So, um, you know, economies are complicated, right? They don't work how we feel they should work. I think in our mindset, we, at a very simplified way, look at economies, as, you know, if money just seems to be coming to you and you don't seem to be doing some kind of labor output, that the economy is going to fail. But maybe you should consider investments and you should consider how things work on Wall Street, right? People collect dividends off of their interest and investments in companies and the like, and they don't do anything, but they can receive large dividend payouts, right? So maybe that's how you should look at the Freedom Dividend as American citizens, all share basically vested interest in the success and the wealth of the United States of America. Um, so I just want to kind of go back into that a little bit. Uh, I know a lot of us have been over the VAT, understand it, but that question still comes up a lot. So I want to kind of zoom in on it so we can have a much more better understanding of how this VAT, how Andrew Yang's VAT will work, and kind of stop spinning the narrative of that, oh, you know what, all VATs do is hurt poor people. Now the poor people got to pay more money and more taxes, right? So this is how they're trying to spin it. Uh, be sure and watch my video, um, about, uh, um, uh, the, uh, inequality, uh, conference that was held, um, that Andrew Yang— or I'm sorry, a world-renowned economist, uh, basically backs up that universal basic income can work in that it is very deceptive. And this is one of the best economists in the world, and it's quite deceptive how the media is trying to spin it like the universal basic income is a negative thing. And this is what's happening with the VAT, right? The media is trying to spin it like the VAT is going to be this terrible thing that just targets poor people, right? And, uh, but Andrew Yang's VAT does not work like that. So, uh, just wanted to let you all know that. Don't forget to join our own universal basic income project using cryptocurrencies like Bitcoin. It is absolutely free to join. Try it out. You only have to gain from it and nothing to lose. But that's all I want to say in this video. If you like content like this, don't forget to like, subscribe, and until next time, take care. Next one.