Hypertext • 99 implied HN points • 14 Nov 23
- Milton Friedman advocated for 'progressive negative taxation' as a way to address poverty and ensure welfare progress. The idea was rooted in a guaranteed minimum income based on nutritional needs.
- Friedman's negative income tax proposal faced challenges and opposition, particularly in implementation and acceptance among policymakers. It aimed to bridge left-wing and right-wing perspectives on poverty alleviation.
- The concept of negative income tax, though not fully realized in policy, showcased the ideological uniqueness of grounding economic theories in practical welfare solutions. It sought to balance efficiency, individual freedom, and incentives in addressing poverty.