Over fifty years ago, President Lyndon Johnson declared war on poverty and established our modern welfare programs. Since 1965 we have spent over $19 trillion fighting poverty. Our modest progress has been enormously costly.
The problems of our welfare programs have led some libertarians to embrace a seemingly big government alternative: having the government give every American a fixed amount of money every year. The idea has been labeled a Basic Income Guarantee (BIG). Despite some attractive features, I think a BIG would ultimately do more harm than good.
I will not dwell on differences among recent BIG proposals. Most propose […]
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