B1 Intermediate US 56 Folder Collection
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The issue that I have is:
Where do children come in?
What are their rights under a negative income tax?
And are we, by building in a negative income tax,
in fact subsidizing the illegitimacy that
Tom Sowell is so concerned about?
FRIEDMAN: The major reason it is not feasible today
to have a negative income tax is because the
present welfare bureaucracy would be out of work.
They are the major objectors and as Senator Pat
- he's now a senator, Pat Moynihan demonstrated
in his book on the Nixon program,
the chief obstacle to getting it enacted
was the welfare bureaucracy.
So that I don't believe these administrative problems,
if you got it enacted, would be at all serious.
O'BANNON: I think the other assumption under
the negative income tax, and it's
one that I'm not sure I can buy,
is that everybody has a minimum level
of understanding about how to spend money.
In other words, how to use the
marketplace to satisfy wishes.
And I, as an economist, would say, yes, we do.
We - everybody from age four to a hundred
knows how to use money
to satisfy wants and that's the...
FRIEDMAN: But they don't. They don't!
There are all sorts of problems
of people who are not going to be able to.
But that's a minority problem.
That's a problem for private activity
and private charity.
One thing is sure: they're spending...
they would be spending their own money,
and that however knowledgeable
you are about spending money...
O'BANNON: They would be spending my money!
FRIEDMAN: They would be spending my money,
but it would be one stage less bad.
Right now, the welfare worker is spending
Mr. A's money to help Mr. C.
And there's a big takeoff
in the middle as Tom Sowell said.
The question is not whether the people
on welfare or low incomes
can all spend their money effectively;
the question is: How effectively do they
spend it as compared to how effectively
the bureaucrats spend it for them?
Comparing anything to perfection or to
some arbitrary standard settles nothing.
The same thing is true in the education area.
They're saying: “Would families be able to
spend their - select schools for their
kids under a voucher system?"
For example: Well, the question is:
Could they possibly do much worse
than the current bureaucrats are doing
in the public school system?
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Free To Choose 1980 - From Cradle to Grave - Negative Income Tax

56 Folder Collection
王惟惟 published on August 11, 2019
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