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"Negative Income Tax" became prominent in the United States as a result of advocacy by Milton and Rose Friedman, who first put forward a concrete proposal in 1962 in a brief section of their book Capitalism and Freedom. [10]
In 1962, economist and author of "Capitalism and Freedom" Milton Friedman proposed the concept of government subsidies for low-income families. Under this type of tax reform and social policy,...
Universal basic income and negative income tax, which is a related system, has been debated in the United States since the 1960s, and to a smaller extent also before that. During the 1960s and 1970s a number of experiments with negative income tax were conducted in United States and Canada .
In his 1962 book Capitalism and Freedom, Friedman advocated policies such as a volunteer military, freely floating exchange rates, abolition of medical licenses, a negative income tax, school vouchers, [19] and opposition to the war on drugs and support for drug liberalization policies.
Find out what NIT is and how it would affect you if the U.S. adopts it.
Negative income tax (NIT) Similar to a basic income but means test so that the grant gradually phases out as income increases. Milton Friedman, Juliet Rhys-Williams, Daron Acemoglu: Capitalism and Freedom, Free to Choose: Negative income tax & work, Negative income tax in Israel, Negative income tax in Ontario, Short info
Universal basic income pilots are smaller-scale preliminary experiments which are carried out on selected members of the relevant population to assess the feasibility, costs and effects of the full-scale implementation of universal basic income (UBI), or the related concept of negative income tax (NIT), including partial universal basic income and similar programs.
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