Bastiat Institute: The Phil Donahue Show- Questions for Milton Friedman

Encourage People to Work

Encourage People to Work

Milton Friedman in the late 1960s had a proposal called the negative income tax. Which I’ve talked about before in how I would raise the minimum wage and move to reduce poverty in. America which is essentially making work pay more than not working. The Cato Institute released a report this week arguing that not working on public assistance pays more than working. We shouldn’t have that, working should always pay more than not working unless you are retired. And we could do this by increasing the minimum wage to 10-12 bucks an hour. With a break for small employers allowing them to deduct thirty percent from their taxes. And apply today’s minimum wage to people who are on public assistance and do not work. Low-skilled workers would make more than not working and still collect all the. Public assistance benefits they are. Eligible for but make more money working than not working, make them eligible for job-training opportunities. And you would see more unemployed low-skilled adults going to work because they would know that would pay more than not working.

About Ederik Schneider

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