Although it falls well short of the libertarian ideal, would a basic-income guarantee far better than our current social welfare systemand 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.
One and One-Half Cheers for a Basic-Income Guarantee
We Could Do Worse, and Already Have
By Michael C. Munger
This
article
appeared in
the Spring 2015 issue of The Independent Review.
EconomyEntitlements and WelfareFederal Budget PolicyFederal Tax PolicyGovernment and PoliticsPublic ChoiceSocial SecurityTaxesTaxes and Budget