THESE PROGRAMS A SECOND LOOK.
SHANNON.
>> Shannon: TRACE GALLAGHER,
THANK YOU VERY MUCH.
LET'S BRING IN 2020 DEMOCRATIC
PRESIDENTIAL HOPEFUL ANDREW
YANG.
A MAJOR ISSUE IS RUNNING ON IS
THE UNIVERSAL BASIC INCOME.
HE CALLS IT THE FREEDOM
DIVIDEND.
ANDREW, WELCOME TO "FOX
NEWS @ NIGHT."
>> THANK YOU FOR HAVING ME.
>> Shannon: YOU HEARD WHAT
TRACE SAID AND WE HAVE
INFORMATION FROM TECHNOLOGY
REVIEW.COM ON FINLAND'S
UNIVERSAL BACON INCOME TRIAL.
IT SAYS A TRIAL FOR UNEMPLOYED
PEOPLE IN FINLAND WERE GIVEN A
BASIC INCOME FOR TWO YEARS DID
NOT GET THEM INTO WORK BUT IT
MADE THEM HEALTHIER AND HAPPIER.
HOW ARE YOU GOING TO SELL THIS
TO THE AMERICAN PEOPLE?
>> THE FINLAND DATA WAS
PROMISING IN TERMS OF PEOPLE'S
HEALTH AND MENTAL HEALTH.
IN THE EMPLOYMENT BENEFITS, YOU
WOULDN'T EXPECT TO SEE UNLESS
YOU WERE TO HAVE THAT CASH
BENEFITS IF PERMITTED ACROSS A
COMMUNITY FOR CERTAIN PERIOD OF
TIME.
UNDER MY PLAN, THE FREEDOM
DIVIDEND, IF YOU PUT $1,000 A
MONTH IN THE HAND OF EVERY
AMERICAN CONSUMER, A LOT OF THAT
MONEY WOULD GET CIRCULATED TO
THE ECONOMY OVER AND OVER AGAIN
AND IT WOULD CREATE HUNDREDS OF
THOUSANDS OF NEW JOBS.
>> Shannon: YOU KNOW THE
NUMBER ONE QUESTION IS HOW THE
HECK ARE YOU GOING TO PAY FOR?
WHAT ESTIMATE SAID $3 TRILLION
TO $4 TRILLION.
WHAT'S YOUR PLAN?
TAXING OUR WAY TO THE BENEFIT?
TAKING FROM THOSE WHO ARE
WORKING TO GIVE TO EVERYBODY
WHETHER THEY ARE WORKING OR NOT?
>> IF YOU LOOK AT HER THE
BIGGEST WINNERS REMAIN TO BE
FROM ARTIFICIAL INTELLIGENCE AND
NEW TECHNOLOGIES, IS GOING TO BE
AMAZON, GOOGLE, FACEBOOK,
WILBUR, THE BIGGEST TECHNOLOGY
COMPANIES IN OUR COUNTRY AND WE
CAN SEE THAT AMAZON PAID
ZERO IN FEDERAL TAXES LAST YEAR
DESPITE RECORD REVENUES.
IF WE KNOW THAT THE BIG WINNERS
IN THE NEW TECHNOLOGY AGE ARE
GOING TO BE PAYING ZERO TAXES
AND OF COURSE WERE NOT GOING TO
HAVE ENOUGH MONEY TO GO AROUND.
BUT IF WE FOLLOW OTHER COUNTRIES
EXAMPLES AND CREATE A MECHANISM
WHERE WE ALL BENEFIT FROM THESE
INNOVATIONS, THEN WE CAN PAY FOR
A $1,000 DIVIDEND FOR EVERY
AMERICAN ADULT.
OUR ECONOMY IS UP TO
$20 TRILLION.
THE PROBLEM IS THOSE BENEFITS
ARE NOT BEING FILED BY THE
AVERAGE AMERICAN FAMILY.
>> Shannon: YOU ARE VERY
SUCCESSFUL ENTREPRENEUR.
THIS IS A COUNTRY THAT UNIQUE IN
THE WAY THAT CAN HAPPEN.
DO YOU WORRY ABOUT TRILLIONS IN
NEW TAXES, THAT IT'S GOING TO
DISCOURAGE ENTREPRENEURIAL
SPIRIT?
>> WHAT I WORRY ABOUT IS IF YOU
LOOK AT THE RATES OF BUSINESS
FORMATION AND STARTS FOR THE
COUNTRY, MULTI-DECADE LOADS AND
85% OF THE COUNTRY.
IF YOU WANT ENTREPRENEURSHIP TO
FLOURISH, YOU SHOULD BE TRYING
TO PUT BUYING POWER INTO THE
HANDS OF THE AVERAGE AMERICAN
FAMILY AND MAKE IT SO THAT
STARTING A BUSINESS IS MORE
REALISTIC AND FEASIBLE FOR
HUNDREDS AND THOUSANDS OF
AMERICANS AROUND THE COUNTRY
WHICH IS WHAT THE FREEDOM
DIVIDEND WOULD PROVIDE.
>> Shannon: THE PRICE TAG,
THERE ARE A LOT OF QUESTIONS.
WITHOUT IMPACTING LARGE
COMPANIES HAVE TO WORRY ABOUT
TAXES, THEIR STOCKHOLDERS AND
THAT TRANSLATES INTO INVESTORS
AND 401(K)s.
I'M NOT AN ECONOMIST I WANT
CONTENT TO BE ONE, BUT QUESTIONS
NEED TO BE ANSWERED.
SOMETHING ELSE THAT I BELIEVE
THAT YOU SUPPORT, MEDICARE
FRAUD.
WHEN YOU PULL PEOPLE, PEOPLE SAY
IT SOUNDS GREAT.
EVERYBODY SHOULD HAVE HEALTH
INSURANCE COVERAGE BUT THE
KAISER POLL, WHEN YOU ASKED
PEOPLE HOW IT'S GOING TO BE PAID
FOR, THE IMPLICATIONS OF THIS.
A LIMITING PRIVATE HEALTH
INSURANCE, IT IS UPSIDE DOWN BY
NEGATIVE 21 POINTS.
UPSIDE DOWN BY 23 POINTS, MORE
TAXES.
DELAYING TESTS OR TREATMENTS,
THE AXIS PEOPLE WOULD HAVE.
NEGATIVE 44% REACTION.
THEY ARE NOT FOR THAT WHEN THEY
DEAL WITH THE REALITY.
HOW DO YOU SOLVE IT?
>> I HAVE BEEN THE CEO OF A
COMPANY I KNOW THAT HEALTH
INSURANCE RIGHT NOW IS A MAJOR
ANCHOR IN OUR ECONOMY.
IT MAKES IT HARDER TO HIRE NEW
WORKERS.
WHEN YOU DO HIRE SOMEONE, YOU
ARE INCENTIVIZED TO MAKE THEM
TEMPORARY OR CONTRACT AND NOT
GIVE THEM BENEFITS.
IT'S HARDER TO SWITCH JOBS.
IT'S HARDER TO START A BUSINESS.
SO THE FACT THAT AMERICANS ARE
VERY KNOW WE CAN UP TO THE FACT
THAT WE CAN IMPROVE ON OUR
HEALTH CARE SYSTEM, AND THE
NOTION THAT WE CAN'T AFFORD IT
OR THAT EVERYONE'S GOING OUT TO
PAY MORE IN TAXES IS IGNORING
THE FACT THAT WE ARE ALREADY
SPENDING 18% OF GDP ON
HEALTH CARE, TWICE AS MUCH AS
OTHER COUNTRIES, TO WORSE
RESULTS.
THAT'S WHY WE ARE SO FRUSTRATED
BY THE SYSTEM.
IF WE TAKE THE MONEY THAT
COMPANIES ARE ALREADY PLOWING
INTO HEALTH CARE, WE HAVE ENOUGH
MONEY TO BE ABLE TO MAKE
HEALTH CARE MORE ACCESSIBLE TO
MORE AMERICANS AND NOT BREAK THE
BANK.
OR RAISE TAXES ON THE AVERAGE
FAMILY.
>> Shannon: HOW THE WORLD YOU
PAY FOR IT?
THE ESTIMATE ON SENATOR SANDERS
PLAN IS $32 TRILLION.
MONEY DOESN'T GROW ON TREES.
SO MUCH OF THE EQUATION HAS TO
DO WITH HOW THE GOVERNMENT WOULD
COMPENSATE DOCTORS OR HOSPITALS
AND WE KNOW THERE ARE PATIENTS
WHO CAN'T GET IN WITH DOCTORS
BECAUSE THE GOVERNMENT DOES NOT
PAY ENOUGH OF A REIMBURSEMENT
RATE FOR A LOT OF THESE
GOVERNMENT PROGRAMS.
DO YOU WORK ABOUT -- WORRY ABOUT
THE IMPACT ON HEALTH CARE, NOT
JUST --
>> THE NUMBER ONE FRUSTRATION IS
THE EXCESSIVE BUREAUCRACY AND
PAPERWORK.
IF YOU SIMPLIFY THAT PROCESS,
THEN THE REIMBURSEMENTS DON'T
NEED TO BE ASTRONOMICAL IN THE
GROUP TO MAKE A PAYOUT FOR THE
DOCTOR OR THE HEALTH CARE
PROVIDER.
IF WE COULD CLEAN UP OUR
BUREAUCRACY, IT WOULD LIBERATE
MANY DOCTORS TO DO WHAT THEY
WANTED TO DO IN THE FIRST PLACE
WHICH IS ACTUALLY CARE FOR
PATIENTS.
>> Shannon: WELL, I KNOW MANY
ARE CONCERNED THEY'RE NOT GOING
TO GET THE REIMBURSEMENT RATES.
WHETHER LESSENING THE
ADMINISTRATIVE BURDEN COULD
LESSEN THE STAFF.
GREAT TO HAVE THIS CONVERSATION