What if you got $1,000 a month, just for being alive? I decided to find out.
Scott Santens
2K149

What is your favorite form of basic income? Personally, I prefer a negative income tax similar to the one proposed by Milton Friedman in 1962, except that I would use the mean income rather than the median with a 33% subsidy for every dollar earned below the mean ($73K as of most recent numbers) and a 60% tax for every dollar above. That way, people who don’t need the money don’t receive payments, there’s no disincentive to get a job since you’re only giving up 33 cents of benefits for every dollar earned, the tax rate is not so high as to stifle entrepreneurship, and most importantly the middle and lower classes will get 1/3 of the largess of the wealthiest people by definition since the mean dollar is used as the break-even and not the median. No matter how the top 0.1% manipulates the economy and political system to maximize income and wealth inequality, ordinary people will get their 1/3rd.

One clap, two clap, three clap, forty?

By clapping more or less, you can signal to us which stories really stand out.