Businessman and 2020 presidential candidate Andrew Yang has a lot riding on one of his key campaign promises – universal basic income (UBI), which he also refers to as a “freedom dividend.”

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UBI is a modern welfare plan through which citizens are granted a consistent, livable income from the government, without condition.

Yang has proposed giving every American ages 18 and over $1,000 per month, regardless of income or employment status. He has said he would fund the proposal by “consolidating some welfare programs” and imposing a value-added tax (VAT) of 10 percent. A VAT is levied on the production of goods or services produced by businesses.

Yang estimates the U.S. government could save $100 billion to more than

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