futuristic idea to just make sure people have enough money that the streets of LA

don't look like this

that's a future enactment of what happens when the government's in charge

of creating all the jobs that's Bernie Sanders proposed Federal jobs guarantee

or fjg to keep power in the hands of the government UVI unlike fjg puts power in

the people's hands to create the jobs of the future that are more meaningful to

them ubi seems very futuristic probably because it's never been done before

except in experiments Finland gave 2,000 people a basic income for two years but

two years isn't long enough people make very different decisions about things

that are temporary versus permanent I mean you don't bring your tinder date to

Thanksgiving dinner this is part two of my series on automation ubi and Andrew

yang click somewhere up here to watch part 1 in it I talked about how

automation will decimate 30% of jobs in the next couple of decades and Andrew

Yang's plan to help Americans turn lemons to lemonade until they make a

robot for that too so today I'm gonna focus on how the freedom dividend would

be paid for and why it's a thousand percent better than socialism at getting

us to that Star Trek type future we want and I take it to the streets of

Hollywood to see who wants a free thousand bucks a month

spoiler everyone wants it and they're gonna need it because we're in the

neither car welcome to neither curve don't get left in the past hit subscribe

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just share this with someone you think I'll like it let's get into it

Automation it's the reason people can afford Tesla's it's the reason you're

spending a lot less time in line at Target and more time buying underwear in

your underwear and I suspect it's the reason my girlfriend took so long in the

bathroom last night who likes candles to brush their teeth

anyway there's a lot more at stake here than just my manhood

Andrew yang thinks capitalism itself could be the victim I like to quote my

friend Eric Weinstein who said we never knew that capitalism was going to get

eaten by its Sun technology it's true technology thrives on capitalism and

yeah capitalism alone might make us kind of

unhealthy but pure socialism would be like putting Cookie Monster on an all

kale diet he'd waste away to nothing and

eventually probably start murdering journalists if only there was someone

sensible who could explain that if we mixed in a salad here and there we could have our cookie and eat it too.

Andrew: The fundamentals that we assumed to be true about capitalism are now breaking down and technology is the accelerator

Bernie: socialism

Andrew: I get it. If you come of age in this era Bernie: Socialism Andrew: and you just see this...

Bernie: Socialism Andrew: ...inhuman version of capitalism you would think give me anything that's

the opposite of this.

Bernie: Socialism.

Andrew: The vision that if we just scrape profits back from Wall Street all will be well...

Bernie: Socialism

Andrew: ...does not take into account the Bernie: Socialism

Andrew: ...economic transformation that we're in the midst of. I'm a CEO and business person I love

capitalism this is capitalism where income doesn't start at zero and having

money is actually good for business good for the consumer economy good for markets

Emmett: huh. Kermit sounds eerily similar to Andrew Yang. Now someone just needs to

tell SNL's new cast member bowen yang because so far he's been doing an

impression of a white person doing an impression of an Asian person he's

squinting I'm literally giving free money to

people and I'm still in sixth place I don't know if it is but it feels racist

which I would like to joke about being offended by but won't because... the internet.

But let's get into it. Andrew how much is this thing gonna cost

headline cost about 3 trillion dollars a year and where does he think all this

money's gonna come from well you guys are not gonna believe this

Mexico is gonna pay for it they're gonna pay for our UVI yeah Andrew yang figure

it out that's how you make a deal kidding but if he would just say that

he'd be elected yesterday also how much will this cost is not even the right

question the right question is how much will this save us you have

to know that before you know how much it costs well the first thing is it's not

actually three trillion we're spending about 1.5 trillion right now

126 welfare programs and Social Security if you're already getting more than a

thousand dollars and stuff we're not just gonna stack it on top we're gonna

just gonna say you're guaranteed a thousand and if you're already getting

more then this doesn't touch you you can keep your current stuff so the three

trillion actually shrinks a lot very fast because of the fact that about half

of Americans are already getting various income support from the government so

the real price tag is closer to about 1.8 trillion I'm no politician but save

that more everything you see in the mainstream media about freedom dividend

is like it's 3 trillion dollars and Amazon's gonna pay for it as Andrew

likes to say check check check check check

tech check is catchy I like it but it makes it seem like the idea is to saddle

big tech companies with a three trillion dollars Sunday when it's really just the

cherry on top a better analogy might be if you want to buy a three trillion

dollar house and you're living in a 1.2 trillion dollar mobile home you don't

need an extra three trillion you can sell your mobile home and just live in

the house we're not keeping both then you can start saving all the money we're

spending on oil changes air filters brake pads tires gas parking permits and

accident repairs and your lifestyle just improved dramatically you've got ten

times the square footage a pool a pool house plumbing central a/c an amazing

view and a bunch of robot servants to keep the place nice that's a lot of

value you're saving money on a bunch of things we spend like about a trillion

dollars on right now like health care incarceration homelessness services it's

a great incentive to try and stay out of jail because you know you stop getting

hit if you wind up in jail when you come out of jail at least you have you know a

thousand bucks a month waiting for you and then you're less inclined to commit

a crime and head back in everything we're talking about is at the margins I

mean everything's like this statistical curve and you're taking the people who

are let's call it like the last ten to twenty percent but if you reduce our

incarcerated population by 10 to 20 percent I mean that's billions and

billions of dollars that's right more savings just because people on the

margins are less desperate less stress and less likely to act all Plus nobody

ever talks about administrative costs which add up to tens of billions as it

is we're spending a lot of money figuring out how to only give a few

people some money when we stop spending money to hand out the money we have more

money although it is ironic that ubi will essentially automate away a lot of

government jobs but you know at least they'll have ubi plus if you think

people are finding meaning in their government job then you've never been to

the DMV presidential release your prisoner phone Valu ok but what happens

with all the money we give out does it just go away when you put money into

people's hands the money doesn't disappear it's gonna go right back into

the economy they're gonna spend it on food child care car repairs they've been

putting off the occasional night out and then all of those businesses end up

hiring more people and then we end up getting some of the money back as tax

revenues if you look at the cost savings and the value gains and the economic

growth that actually gets you back about a trillion dollars so a cool trill and

cost savings and the value gained from living in a nicer place add that to the

1.2 trillion selling the mobile home I mean our current social welfare programs

and we have 2.2 trillion we could pay off two-thirds of the house upfront that

feels very responsible so we got a finance 800 billion now let's talk tech

check and the way you get the last 800 billion or so is related to what we

think is happening with AI and all these advanced technologies a wealth tax makes

a lot of sense in principle the problem is that it's been tried in Germany

France Denmark Sweden and all those countries ended up repealing it because

it had massive implementation problems and did not generate the revenue that

they'd projected if we can't learn from the failed experiences of other

countries what can we learn from we should not be looking to other countries

mistakes instead we should look at what Germany France Denmark and Sweden still

have which is a value-added tax if we give the American people a tiny slice of

every Amazon sale every Google search every rule

truck mile every facebook ad we can generate hundreds of billions of dollars

and then put it into our hands because we know best how to use it this guy's

talking sense meanwhile Bernie Sanders can't stop talking about democratic

socialism no matter how Democratic it is socialism doesn't get you star trek

capitalism gets you Star Trek socialism gets you slow economic growth less

entrepreneurial opportunity and lack of motivation due to lesser rewards

capitalism gets you Iron Man socialism gets you Iron Age I know

Trekkies are freaking out right now because in Star Trek they're so

socialist they don't even have money which is the biggest problem with Star

Trek a lot has changed in the past 300 years people are no longer obsessed with

the accumulation of things we have eliminated hunger want the need for

possessions okay then just give me all your shit Picard what's the big deal

look I get eliminating hunger and need but you got rid of want what how do you

figure out who gets the only available high-rise apartment with a south-facing

city view nobody wants it right resources will always be limited and

money is literally the technology we use to make dividing up resources really

easy everything can't be everyone's all the time not until we become a glowing

orb of super intelligence inhabiting the entire universe like Ray Kurzweil

predicts will happen after the technological singularity click up here

to see my video on the technological singularity and figure out why the point

is if we want to drive technological growth to create a Star Trek type future

we need capitalism my word with bernie is this democratic socialism because

according to Wikipedia definition democratic socialists will not stop

until capitalism is gone you be I on the other hand is not socialism as you

suggested I'm a capitalist I'm a fan I challenge you to find a clip of Bernie

saying that I also disagree with the idea that people need to be burdened to

find happiness well there is the possibility of providing a minimum

income I don't think that people can be happy unless they are

burdened down with something like a sled dog is burdened down with something if

Jordans thesis were true then why would there be any extremely wealthy people as

soon as someone made enough for basic needs they would just stop working hard

and fall apart but that's not how we operate people will always find a way to

be burdened you think Bill Gates doesn't feel burdened by solving his foundations

grand challenges like eradicating malaria it's in our nature to challenge

and burden ourselves but having money lets you think bigger than the

challenges of staying alive we need challenges yes but what better

challenge then the one automation presents us with the challenge to figure

out for ourselves how to spend our time in ways that are truly meaningful and

with that in mind I asked some Hollywood randos what they would do with an extra

thousand bucks here's how that went what would you do if we if you just had

a thousand dollars right now that's nice and close probably another holiday I'm

probably going to one of these two linear stores and just buy whatever I

want I'd get a head start on where we got a thousand dollars a month for 12

months what do you think he do I have my own projects I would like to fund

scripts scripts yep this Hollywood I'd probably try to save up and maybe buy a

car I've gotta find a rich movie star and yeah is that how much they cost a

thousand dollars a month what have you got a thousand dollars a month for the

rest of your life okay I'll donate to the ocean space every single month wow

that's that's very nice I would for sure move in the direction of what suits my

spirit more than my bottom line honestly probably the first few months I would

end up spending it and then I would realize that like there's no point in

spending a little bit at a time when I could buy something much bigger over

you'd settle down over time and get responsible I would like to think that I

will be less stressed I'd probably blow some if I'm being honest on technology

and trips and stuff like that but eventually I would I would invest it in

order to retire and to be able to buy a house one day do you think a robot could

take over your job I think every job eventually is gonna be taking over

already a stem of stuff people will be losing their jobs because of this

because robots are crazy they control I've never done nothing have you heard

of universal basic income that sounds good