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Negative tax seen replacing Social Security
The piece argues private insurance could better cover old age pensions disability and survivors benefits than Social Security. It explains Milton Friedman’s proposal for a negative income tax starting at 2600 dollars to replace welfare and welfare programs, reducing tax burdens and expanding benefits to the needy, with political risks noted. It also cites critics like Robert Ball and Paul Samuelson, who debate the system’s fairness and sustainability.
MENTIONED IN THIS ARTICLE
Mist
University of Chicago
Friedman
Internal Revenue Service
Congress
Denmark
Charles Stevenson
Keough
Paul Samuelson