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.

Economist. Founder and president of the UBI Center. Studied at MIT and UC Berkeley. YIMBY. Former Google data scientist.

Economist. Founder and president of the UBI Center. Studied at MIT and UC Berkeley. YIMBY. Former Google data scientist.