3 ms·
Are you suggesting that reconfiguring our economic system is more feasible than introducing a new redistributive welfare transfer on top of the existing economi
by bhupy 7y ago
Are you suggesting that reconfiguring our economic system is more feasible than introducing a new redistributive welfare transfer on top of the existing economic system?
Keep in mind that we already have a negative income tax in the US: the Earned Income Tax Credit. We're really just talking about expanding that.
- toomuchtodo 7y agoYes. You’re up against deeply seated belief systems.
- bhupy 7y agoI guess we’ll have to agree to disagree here. I think that modifying the Earned Income Tax Credit (which was introduced by Nixon, then expanded by Reagan) by further expanding it, and then removing the employment requirement is a way easier sell to Americans than fundamentally shifting towards central planning.
- toomuchtodo 7y agoWe're already central planning (Federal Reserve unlimited support), I'm just arguing for changing the conditions of operation. Tax policy is insufficient for the effort required IMHO.
- bhupy 7y agoEffort required for what? We are simply talking about the merits of the government being the employer of last resort in the event of economic stress. That’s far more effort than just giving people money. If we’re talking about climate, it’s probably far easier and far more effective to institute steep carbon taxes. It should be very easy to do that especially now, oil is the cheapest that it’s ever been.