Sunu Quaid’s new home does not contribute to her life-cycle wealth.
33. Private property was argued to be inappropriate by Marxists due to its distribution from
those “who have” to those “who will have” in a fashion creating a class to itself.
34. According to A.P. Lerner, splitting income equally among individuals was most
appropriate for maximizing combined satisfaction.
35. Negative income taxes have been a feature of our tax system since President Lyndon
Johnson’s “war on poverty” in the 1960s.
36. A reverse tax, or negative income tax, is a way of creating a minimum income for all
households while retaining an incentive for people to work.
37. Wealth and income are two different terms used to represent the same concept, household
well-being and, thus, may be used interchangeably.
38. According to John Rawls, a “veil of ignorance” was needed for equitable decisions about
appropriate social rules and individual endowments, so no one would know their place in
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