A guaranteed income for every American would eliminate poverty — and it wouldn't destroy the economy →
So here’s my takeaway: a negative income tax or basic income of sufficient size would, by definition, eliminate poverty. We still don’t know if there’d be much of a cost in terms of people working and earning less. If there is, the effect is almost certainly small enough that a negative income tax can offset the lost earnings and remain affordable. The worst case scenario is that we eliminate poverty but see a modest decline in employment. The best case scenario is we eliminate poverty at even lower cost and don’t see much of an effect on employment. That’s a gamble I’m willing to take.