Universal Basic Income is Capitalism 2.0
Why give free money to everyone? Clearly a rich person doesn’t need a monthly check from government...<p>Milton Friedman long ago proposed a negative income tax to replace means-tested welfare programs. Essentially, people below a certain income threshold would receive money which scales to a maximum the closer their income approaches zero.<p><a href="https:&#x2F;&#x2F;en.m.wikipedia.org&#x2F;wiki&#x2F;Negative_income_tax" rel="nofollow">https:&#x2F;&#x2F;en.m.wikipedia.org&#x2F;wiki&#x2F;Negative_income_tax</a><p>I do think people radically underestimate the unforeseen consequences of a free guaranteed income, even if it was low. I’d be willing to live as a poor person if that meant not having to work. Actually, where I live now I live comfortably on $1200 a month. I definitely would choose not to work or work less if that money came free from government. If I got free money I wouldn’t increase spending, I would reduce work.