South central kansas | BobC - 3/21/2020 13:38
Maybe the Yang Gang was onto something. . . Or at least writhing in laughter.
The UBI has been around for a while, even Milton Friedman advocated a Negative income tax, not to the same extent as Yang.
"In the 1960s and 1970s, some welfare debates in the United States and Canada included discussions of basic income. Six pilot projects were also conducted with the negative income tax. Then President Richard Nixon once even proposed a negative income tax in a bill to the Congress, but Congress eventually only approved a guaranteed minimum income for the elderly and the disabled, not for all citizens, thus:[11" "Nixon proposed more ambitious programs than he enacted, including the National Health Insurance Partnership Program, which promoted health maintenance organizations (HMOs). He also proposed a massive overhaul of federal welfare programs. The centerpiece of Nixon's welfare reform was the replacement of much of the welfare system with a negative income tax, a favorite proposal of conservative economist Milton Friedman. The purpose of the negative income tax was to provide both a safety net for the poor and a financial incentive for welfare recipients to work."
|