3 ms·
It seems to me that solution most likely to succeed would be a middle ground approach. A negative income tax. It isn't universal, but massively simplifies the w
by _-david-_ 4y ago
It seems to me that solution most likely to succeed would be a middle ground approach. A negative income tax. It isn't universal, but massively simplifies the welfare system.
Basically you choose a dollar amount and a percentage. For simplicity I will choose $50,000 and 50%.
- If you make $50,000 you don't owe taxes and you don't get welfare.
- If you make over $50,000 you get taxed on any money you made over $50,000.
- If you make under $50,000 then you do the following equation $50,000 - however much you earned and multiple it by the percentage. If you made $0 you would get $25,000 in welfare. If you made $20,000 you would get $15,000 in welfare.
The way this is set up would prevent wealthy people from getting benefits, it ensures that if you make money that year you will make more than somebody who only gets welfare, and it massively simplifies the welfare system. It also allows you to play with the numbers easily to adjust for cost of living. If Area X is 10% more expensive than Area Y just change the dollar amount and/or the percentage.
- LinkLink 4y agoWould be great but these bills are always written by private interests behind the scenes, and the IRS is free to do whatever it pleases almost at any time.