The word unemployed changed to employed on torn paper

The word unemployed changed to employed on torn paper

Kevin Boyd, an associate policy analyst at the R Street Institute, authored a post directly comparing the negative income tax, a variation of the basic income guarantee, to traditional welfare and the minimum wage. Boyd contends that a negative income tax would avoid the potential for job loss and price hikes caused by the minimum wage while avoiding the pitfalls of the current welfare bureaucracy. Boyd advocates for an income threshold set at 130% of the poverty line, which would amount to a guaranteed minimum income of $30,711.20. W-9 forms would be collected monthly and payments would be calculated each month based on the previous month’s income. Paired with the abolition of the minimum wage, Boyd believes that unemployment can be greatly reduced without an increase in poverty thanks to the negative income tax.

For the entirety of Boyd’s post, see

Kevin Boyd, “A negative income tax beats both the minimum wage and welfareR Street Institute, September 12, 2014