Morning Must-Read: Matt Zwolinski: The Pragmatic Libertarian Case for a Basic Income Guarantee

Matt Zwolinski: The Pragmatic Libertarian Case for a Basic Income Guarantee: “Not only does the U.S. welfare state…

…spend a lot; it spends it badly. Poor Americans receiving assistance face a bewildering variety of phase-outs and benefit cliffs that combine to create extremely high effective marginal tax rates on their labor. As a result, poor families often find that working more (or having a second adult work) simply doesn’t pay. And still, despite massive expenditures by the welfare state, some 16% of Americans are left living in poverty. Wouldn’t it be better just to scrap the whole system and write the poor a check?…