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in your state? If it was on a ballot initiative, and it would not raise taxes?
A basic income guarantee is like social security for all, pretty much. But the amounts would likely be much less than social security, possibly $2,000-10,000 per person a year. The Alaska Permanent Fund is an example of a basic income guarantee.
Friedman pushed for a negative income tax in the 70s, but withdrew his support when it became obvious that it would simply be added on to all of the other programs.
I would prefer no taxes due on your first $15K-$20K of income or maybe a negative income tax on low earners.
That's what we already have...I'm pretty sure people making that low of an income never pay income taxes. I never did. And you usually get an earned income tax credit too.
That's what we already have...I'm pretty sure people making that low of an income never pay income taxes. I never did. And you usually get an earned income tax credit too.
That only applies if you have kids or are in school, but if you are in school the credits are limited and you likely spent more on education expenses than you got back - great program! it isn't the same as what I proposed though.
If anything, it should be a federal program paid for by ending existing welfare-type programs, e.g. TANF, Section 8 food stamps, etc.
But first it should be coherently designed to pencil out - i.e. cheaper than existing welfare programs - and reward productivity to the extent feasible, plus be tested through limited pilot programs first.
What we have now is incredibly inefficient and wasteful, while discouraging productivity. Surely we can do better without throwing anyone - takers or payers - under the bus.
Poor people are not able to make the financial decision to buy a home precisely due to government interference.
I'll buy you a house if you can figure out a way to get my gf to stop nagging me and for her to stop asking me what "I'm feeling/thinking".
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