7.3.19

WHEN ROBERT REICH CHANNELS MILTON FRIEDMAN?

Well, almost.  "Enlarge and expand the Earned Income Tax Credit."  It's mostly standard stuff, involving the upper bound on earned income at which the credit goes away, but then there's the intriguing proposal that it be paid out monthly, rather than as the lump sum that goes with the income tax refund, the way things currently work.

The earned income credit might not be a negative income tax as Robert Lampman or Milton Friedman would have it, and there might be some troubling details in implementation, and yet, its endorsement by economists of varying strains might, just might, be evidence of its usefulness compared with other policy proposals.

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