SALT LAKE CITY — Democratic presidential hopeful Andrew Yang has made headlines throughout the primary for his idea to bring you $1,000 a month, totaling about $12,000 per year.
The money for the plan — called the “Freedom Dividend” — would be provided by government funds, Yang said.
But there’s one state that has already embraced the idea: Alaska.
The Alaska Permanent Fund offers residents who lived in the state for one year will be given between $1,000 and $2,000 per year. The fund, which was established in 1976, gets its fund from the oil revenues in the state, according to NBC News.
“It is wildly popular in a conservative state,” Yang tweeted. “It has created thousands of jobs, reduced income inequality, and improved health for children.”
And apparently it hasn’t led to many problems. According to research, the Alaskan money hasn’t caused people to drop out of the labor market and stop looking for jobs. Rather, the influx has led residents to spend more money and actually create higher job demand, of all things, NBC News reported.
Both Ioana Marinescu, a professor at the University of Pennsylvania, and Damon Jones, a professor at the University of Chicago Booth School of Business, researched the findings, comparing Alaska’s labor market to Wyoming and Utah to see if there were any changes.
The research found Alaska’s labor market has been the same as those states, “meaning that the dividend had no detectable impact on the Alaskan labor market,” according to NBC News.
“Americans will work even harder when they get the resources in place to actually get ahead,” Yang said on “Face the Nation” on Sunday. “This is the trickle-up economy, from our people, families and communities up. It will create over 2 million new jobs in our communities because the money will go right into local mainstream businesses, to car repairs, daycare expenses, Little League sign-ups. And that’s where the economic value needs to go in order to create jobs where people live and work.”