Can African Americans Benefit From Presidential Candidate Andrew Yang's Universal Income Proposal?

[redqueen]

Universal basic income plans are not new. But Andrew Yang, the 44-year-old entrepreneur from New York who is running for president, has made universal income his signature issue.

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But would it actually work and how would it impact African Americans? Though the idea has never been tested across the U.S., the state of Alaska (population 750,000 residents) receives a dividend of $1,000 or $2,000 a year in oil profits. Yang says his plan is similar.

The proposal for universal income is not new. In his 1967 book, Chaos or Community, civil rights activist Dr. Martin Luther King Jr. proposed basic universal income. In 1973, Daniel Patrick Moynihan wrote The Politics of a Guaranteed Income and pushed for a guaranteed minimum income.

“Black entrepreneurship will flourish when black consumers have more money to spend,” Yang said on Roland Martin Unfiltered last month. The median white family has 41 times more wealth than the median African American family. The average white household had $111,146 in wealth in 2011 and the average black household $7,111.

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https://www.blackenterprise.com/can-african-americans-benefit-from-presidential-candidate-andrew-yangs-universal-income-proposal

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