This idea has gotten some play in Washington circles. On the right, American Enterprise Institute's Andrew Biggs has proposed replacing Social Security with a basic income set at the poverty line, plus an automatic savings program. On the left, Michael Lind, Steven Hill, Robert Hiltonsmith, and Joshua Freedman released a plan through New America that would add on a basic income set at about the poverty line (the specific number is $11,669) to existing Social Security. The latter proposal has a shortcoming in that only retirees with earnings get the benefit, but it's simple enough to expand.
