A. All means tested and income transfer programs of the government will be eliminated. This includes SNAP, Social Security,Supplemental Security Income, Medicaid, Medicare, housing subsidies, unemployment insurance, workfare, TANF, earned income tax credit, etc.
B. Everyone over 18 years of age will receive a monthly electronic transfer into their bank account equivalent to an annual payment of $12,000. Additionally, funds will be provided to purchase a health insurance policy for the individual. If the individual shows proof of insurance, they can receive this money directly as well. Adults will also receive an additional $5000 for each dependent under 21 listed on their tax return. A portion of this money will also go to their health insurance with the same rules for return of that money of health insurance is already provided.
C. This money is not directly subject to Federal Income Tax. Each person can earn up to $25,000 in income without a decrease in these funds. Above $25,000, the recipient loses $0.20 in benefit for each $1 earned. Depending on whether or not they have insurance and or dependants, this causes benefits to completely end around $90,000 to $110,000 in annual income
Two items to note if you do this topic:
1. There would obviously be a huge transition period for old people already receiving social security. Rather than wrting a plan for the transition and having you evaluate that as well, just assume there is some transition plan that would be included and ignore transition issues in your discussion.
2. Don’t spend much time on the health insurance issue. The idea is that since Medicare and Medicaid are going away, we are going to guarantee health care access to people in a different way through private insurance. If you are interested in health care issues, do #1. Don’t talk about those issues under this topic.
Analyse and evaluate multiple questions and issues around this policy change while sounding like an economist.
In the provided materials is the topics and additional instructions needed to complete this essay. The topic provided to me is the one regarding Income maintenance programs or topic #2 on the paper assignment document. The 4 standards provided in the instructions are very important for getting a good grade on this essay so should be followed precisely. Also I need someone with a background in Economics so they sound and use appropriate Economics terms while analyzing. If possible use "Economics of the Public Sector 4thed.by Joseph Stiglitz and Jay Rosengard" as a source. I will provide a pdf so that you will not have to search the internet for it. More specifically chapters 15 and 16 will be the chapters used