Harvard dropout and Facebook billionaire Mark Zuckerberg recently gave the commencement address at Harvard. In his speech he proposed a "universal basic income to make sure everyone has a cushion to try new ideas."

But Zuckerberg is not alone.

First it was Milton Friedman, then it was Charles Murray, and then it was Matt Zwolinski. Now it is Michael Tanner and Jesse Walker. Why are some libertarians even talking about a universal basic income or a guaranteed minimum income? Why are some libertarians trying to be efficiency experts for the welfare state?

We already have a universal basic income. It is called welfare.

There are in the United States about eighty means-tested welfare programs. These are programs that limit benefits or payments based on the beneficiary's income and/or assets. There are also welfare programs that most Americans have never heard of. And there are other welfare programs that most Americans don't consider to be welfare programs.

Welfare is welfare, no matter what it is called and no matter what people think about.

The elderly have Social Security and Medicare.

The elderly poor also have access to the Elderly Nutrition Program and the Commodity Supplemental Food Program (CSFP).

The disabled have Supplemental Security Income (SSI), and are also eligible for Social Security and Medicare.

The poor have Medicaid, the Supplemental Nutrition Assistance Program (SNAP [formerly known as food stamps]), section 8 housing vouchers, Temporary Assistance to Needy Families (TANF), the Low Income Home Energy Assistance Program (LIHEAP), subsidized phone service, community health centers, public housing, and family planning programs.

Hungry children have school breakfast and lunch programs.

Low-income taxpayers have refundable tax credits like the Earned Income Tax Credit (EITC), Additional Child Tax Credit (ACTC), and the American Opportunity Tax Credit (AOTC).