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Alternative GDP?! "Universe..." Interesting idea but don't know this will work... I can't imaging paying some one sit at home watching TV playing video games surfing Google all day. And gets pay same amt as me... His ideas are even better than Beto or sanders but way on the left fieldh If he gets nominated for dnc chief president or vp... Maybe (@@@@ @@ @@@@)2020
Dredging up half-century old ideas? If you don't think this will work, try listening to Milton Freedman talking about it with William F. Buckley in 1968.
In his example (remember this was 50 years ago), he's giving all families of four $1500 as a refundable tax credit applied to income taxes. Your person sitting at home playing video games and earning nothing pays no income tax and gets a tax refund.
As far as what goes into GDP is concerned, one might start by simply counting all the productive services performed, including caretaking and cleaning services.
Comments
In his example (remember this was 50 years ago), he's giving all families of four $1500 as a refundable tax credit applied to income taxes. Your person sitting at home playing video games and earning nothing pays no income tax and gets a tax refund.
As far as what goes into GDP is concerned, one might start by simply counting all the productive services performed, including caretaking and cleaning services.
IMF, Rethinking GDP, Finance & Development, March 2017, Vol. 54, No. 1
https://www.imf.org/external/pubs/ft/fandd/2017/03/coyle.htm