Replacing Welfare
Posted: Sat Nov 29, 2014 10:02 am
Paul Ryan and Marco Rubio support something similar. The concept was endorsed by Hayek and Friedman. It would potentially eliminate the need for 79 different means tested government poverty programs. Gentleman, I give you the idea of...
Guaranteed Basic Income……..
Dunh dunh dunnnnnhhhhhh
http://economix.blogs.nytimes.com/2013/ ... -all/?_r=0" onclick="window.open(this.href);return false;
Guaranteed Basic Income……..
Dunh dunh dunnnnnhhhhhh
The assurance of a certain minimum income for everyone, or a sort of floor below which nobody need fall even when he is unable to provide for himself, appears not only to be a wholly legitimate protection against a risk common to all, but a necessary part of the Great Society in which the individual no longer has specific claims on the members of the particular small group into which he was born.
- F.A. Hayek
http://www.theatlantic.com/politics/arc ... me/375600/" onclick="window.open(this.href);return false;Friedman’s argument appeared in his 1962 book, “Capitalism and Freedom,” based on lectures given in 1956, and was called a negative income tax. His view was that the concept of progressivity ought to work in both directions and would be based on the existing tax code. Thus if the standard deduction and personal exemption exceeded one’s gross income, one would receive a subsidy equal to what would have been paid if one had comparable positive taxable income.
In 1965, Sargent Shriver, director of the Office of Economic Opportunity, recommended to President Lyndon Johnson that he support Friedman’s idea of a negative income tax. Friedman provided illustrative figures to The New York Times showing how his plan would work. The maximum benefit would be $1,500 per year for someone with zero gross income, which would be about $11,500 in today’s dollars
http://economix.blogs.nytimes.com/2013/ ... -all/?_r=0" onclick="window.open(this.href);return false;