3.8 - Poverty Relief
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3:20 Using your example, one earning $4,999 in one year who decides to increases his annual income by $1 would be taxed at a rate of 600,000%. I think that would indeed act as a disinsentive to increased-productivity.
hitssquad 2 years ago
2:00 "The poor have borne an implicit tax rate."
Indeed. Typical poverty-relief strategies are distortive. This is one reason why universal, non-means-tested cash handouts are superior. With guaranteed cash handouts, individuals are free to order their own priorities: nutrition, hygeine, shelter, entertainment, education, etc.
The "problem" with universal-cash-handouts is that it drains power from those who wish to discretely control resource-allocation.
hitssquad 2 years ago