Retired judge and 2012 Libertarian Vice Presidential candidate Jim Gray proposes in his blog 2 Paragraphs 4 Liberty to replace “things like welfare, minimum wages, etc.” with a monthly stipend for those with no income, similar to a Universal Basic Income, except in Gray’s plan, the stipend would be would gradually withdraw as individual income increased.
He also encourages the implementation of a “graduated flat tax” that would cap out at 25% in the highest tax bracket and eliminate all income tax deductions, suggesting that replacing the current tax system with his proposal would provide the funding source needed for the monthly stipend.
See the full article:
Jim Gray, “Liberty Can Create A Safety Net” (February 28, 2017)
