Andrew Yang Qualifies for Fifth Democratic Debate | Financial Buzz

Andrew Yang Qualifies for Fifth Democratic Debate

Former lawyer and entrepreneur Andrew Yang has qualified for the fifth presidential primary debate in November, making him the eighth candidate to do so. 

As of Wednesday, Andrew Yang is set to take the stage alongside former Vice President Joe Biden, New Jersey Senator Cory Booker,  South Bend, Indiana, Mayor Pete Buttigieg, California Senator Kamala Harris, and Vermont Senator Bernie Sanders

Yang earned 3% support in a national poll conducted by Quinnipiac University and released on Tuesday. He has previously gotten at least 3% in three other polls approved by the Democratic National Committee, and has publicly said he crossed the fundraising threshold of 165,000 unique donors.

The rising candidate entered the 2020 race for President without conventional presidential credentials. “I’m not a career politician—I’m an entrepreneur who understands the economy,” he says. Andrew Yang began his professional career as a corporate attorney and in recent years has boosted business start-ups through Venture for America, a non-profit he founded in 2011.

Mr. Yang formally declared his run for presidency in 2017 after realizing the threat posed by automation to millions of American jobs. New technologies like robots, software and artificial intelligence have already wiped out more than 4 million U.S. jobs. At this rate, one-third of all American workers are at risk of permanent unemployment due to automation.

To combat this near reality, Andrew Yang said his first priority as president will be to implement the Freedom Dividend, a universal basic income (UBI) for every American over the age of 18: USD 1,000 a month, no strings attached, paid for by a new tax on companies benefiting most from automation. 

According to Mr. Yang a USD 1,000 UBI would “permanently” grow the economy by about USD 2.5 Trillion by 2025, and increase the U.S. labor force by 4.5 million to 4.7 million people.