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Free Enterprise without Poverty (Paperback, New edition)
Loot Price: R119
Discovery Miles 1 190
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Free Enterprise without Poverty (Paperback, New edition)
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Loot Price R119
Discovery Miles 1 190
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Single-answer economic solutions have always been in vogue, whether
it be the single tax or a return to the gold standard. Computer
manufacturer Greene is founder and president of his own foundation,
the Institute for Socioeconomic Studies, and dabbles in economic
cures: his is the "graduated income supplement" (GIS), a guaranteed
fixed, taxable income that would be provided for every American.
Since it would be taxable, the graduated income tax would assure
that this "demogrant" would benefit the poor more than the wealthy,
who would give most of it back in taxes. This system would replace
all the various income supplements and transfer payments currently
in effect, from Aid to Families with Dependent Children to farmers'
subsidies. Greene says the advantages are several: the GIS, unlike
the current system, is not based on needs assessment, which he sees
as inherently arbitrary (it sets up categories and then tries to
fit people into them); therefore, it is also less bureaucratic and
much easier to administer; it won't cost us any more than current
programs; and if has the great advantage of stifling neither the
American family nor the American work ethic. Greene correctly shows
the inequity of the current welfare system that pays people to live
in one-parent families, or puts a lid on income as a requirement
for assistance, so that some can make more on welfare than at a
job; and he has a lot of examples to illustrate his points (though
these are likely to be exceptions). The GIS wouldn't act as a
barrier to persons trying to earn more, since their total after-tax
income would actually be more. Thus, disincentives would disappear
and the economy could go back to "normal" with a work-force of
eager income maximizers. Greene's formula has the merit of calling
attention to the inhumanity of needs assessment as the basis for
the welfare system, and the GIS does make a certain elemental sense
- forgetting for a moment the difficulty of administering a system
dependent on tax returns and the political ramifications of such
rigid centralization. But even if it had no blemishes, Greene's
plan would still be yet another single-technique solution to the
economy, and the track record isn't encouraging. (Kirkus Reviews)
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