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Income redistribution expressed equivalently as a negative income tax or as a basic income Theoretical discussion of negative taxation began with Vilfredo Pareto , who first made a formal distinction between allocative efficiency (i.e. the market's ability to give people what they want subject to their incomes) and distributive justice (i.e ...
President Nixon delivering a speech in 1969 around the time the Family Assistance Plan was introduced. The Family Assistance Plan (FAP) was a welfare program introduced by President Richard Nixon in August 1969, which aimed to implement a negative income tax for households with working parents.
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 .
Find out what NIT is and how it would affect you if the U.S. adopts it.
The Tax Reform Act of 1969 (Pub. L. 91–172) was a United States federal tax law signed by President Richard Nixon on December 30, 1969.Its largest impact was creating the Alternative Minimum Tax, which was intended to tax high-income earners who had previously avoided incurring tax liability due to various exemptions and deductions.
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,...
On taking office, Nixon established the Council of Urban Affairs, under the leadership of Daniel Patrick Moynihan, to develop a welfare reform proposal. Moynihan's proposed plan centered on replacing welfare programs with a negative income tax, which would provide a guaranteed minimum income to all Americans. Nixon became closely involved in ...
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