I am having a déja vu attack. Friedman's negative income tax was graduated, as I recall, but otherwise similar.
>His proposal is "progressive" in the sense that those over some income, I >forget the >number get nothing. Only those below some income get the $10,000 & those in >the >middle get less as their income increases. > >Notice that as prices increase, so long as incomes increase also, even if real >incomes don't, more and more people will fall below the various cutoff points. > >On Wed, Aug 02, 2006 at 03:57:01PM -0700, raghu wrote: >> > >> > >> Hypothetically, assume the best case scenario where each citizen does >> receive annual payments of $10,000.00. Given the current levels of >> indebtedness, how much of that on average would go towards debt-servicing on >> the lower-end of the income scale? >> -raghu. > >-- >Michael Perelman >Economics Department >California State University >Chico, CA 95929 > >Tel. 530-898-5321 >E-Mail michael at ecst.csuchico.edu > >
