Minimum Wage, Corporate Taxes, and a Basic Income

To my progressive friends, I ask: “If you’re going to both raise the minimum wage, and tax corporations more, how do you propose to encourage corporations to stay here and hire American workers. Are you going to force them to?”

To my conservative friends, I ask: “If you’re going to fight an increase in the minimum wage, and reduce taxes on the wealthy (presumably also gutting social programs), how do you plan to keep people out of poverty in an era where the value of human labor is falling?”

A┬áproposal: Eliminate taxes on corporations that hire Americans, raise taxes on wealthy investors directly, and supplement everyone’s income equally with a modest basic income (framed as a prosperity dividend on one’s natural inheritance) instead of raising the minimum wage.

This solution would increase the number of jobs in the US, it would reduce poverty (without increasing shame), it would be a progressive tax and transfer solution (corporate taxes often aren’t), it would be a scalable solution in the very likely event that the value of human labor continues to fall, and it would restore to everyone a modest natural inheritance that Mother Earth used to provide us for free (before the big land grab happened).