Elon Musk And Andrew Yang Support UBI - Is America Ready?

CNBC Make It.
News & Politics 11:43
720p 360p 160k 128k
437,233 12,451 994

Universal basic income (or UBI) is a key part of Andrew Yang's campaign for the 2020 Democratic presidential nomination. On Monday, Tesla and SpaceX CEO Elon Musk tweeted his support for Yang's candidacy. Musk and Yang have stated similar views on the need for universal basic income in the United States.

A main tenet of Yang's campaign platform is his pledge to provide $1,000 a month to all American citizens 18 and older. Yang refers to this payment as a "Freedom Dividend" that will become necessary as robots and automation replace humans more rapidly than people can find and be retained for new jobs.

UBI is making its way from the fringes to a serious topic of debate thanks to a growing number of high profile advocates, including Elon Musk, Mark Zuckerberg and Richard Branson, and 2020 Democratic presidential candidate Andrew Yang. So far, the results of some UBI experiments have been controversial. Is America ready for universal basic income?

*** UPDATE *** Andrew Yang’s campaign reached out to us on August 16th to clarify that the Freedom Dividend would stack with Social Security and Veteran's Disability: According to Yang's plan, veterans with a disability will continue to receive benefits on top of the Freedom Dividend. Social Security retirement and Social Security Disability Insurance (SSDI) benefits will also stack with the Freedom Dividend. Those receiving Supplemental Security Income (SSI), another form of disability benefit, would have to choose between SSI or the Freedom Dividend whichever is more generous.

» Subscribe to CNBC Make It.:

About CNBC Make It.: CNBC Make It. is a new section of CNBC dedicated to making you smarter about managing your business, career, and money.

Connect with CNBC Make It. Online
Get the latest updates:
Find CNBC Make It. on Facebook:
Find CNBC Make It. on Twitter:
Find CNBC Make It. on Instagram:


Elon Musk And Andrew Yang Support UBI - Is America Ready?