Andrew Yang says Democrats' proposed "wealth tax" (i.e. asset confiscation) is a "disaster," then praises alternative policies like Trump Accounts that incentivize the rich to give to the needy without government bureaucrats getting in the way
"Wealth taxes are a disaster, because wealth is portable."
"I joke with people. It's like, guys, you cannot think that rich people are rancid assholes but that they'll stick around if you decide to hike taxes. Those two things don't exist in conjunction."
"I loved what Michael Dell and Ray Dalio and his wife did with the Trump Accounts, where it's like, super wealthy people -- if you take the government out as a middleman -- will they give billions of dollars to poor kids? Apparently, yeah. They're more interested in that than giving it to the government, who they think is going to end up wasting a certain percent of it."
"It's like, 'If I can just give it straight to the kids and I know it's getting to the kids, I am down.' And that should be the vision, is you go around to people and be like, 'Look, I get it. You don't trust the government to do it right, to administer it. They're going to hire a bunch of people, bloat, all sorts of weirdness. Let's just get it straight to the poor kids.' And then you could go to Americans and be like, 'See, look, there's like a real effort.'"