Although it falls well short of the libertarian ideal, would a basic-income guarantee far better than our current social welfare system—and cost much less? Replacing the existing array of subsidies, transfers, in-kind payments, and set-asides with a government-guaranteed basic income implemented through a negative income tax would save tax dollars, put more money in people's hands, and increase the recipients' liberty and autonomy.
Michael C. Munger is Senior Fellow and former co-editor of The Independent Review at the Independent Institute, and Professor of Political Science, Economics and Public Policy and Director of the Philosophy, Politics, and Economics Program at Duke University.
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Other Independent Review articles by Michael C. Munger
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