1 min readJun 25, 2019
This analysis puts a $0 here, though incorporating labor response and macroeconomic effects is a core next step. Penn-Wharton estimated reduction in work hours of ~6% for the deficit-funded approach, or ~3% for the payroll-tax-funded approach. Given the Yang plan is half-deficit-funded, it’d probably fall somewhere in between, but would depend on economic assumptions like labor elasticity and capital response to deficits.