Replies to post #486943 on Tornado Alley (PROG)

[12yearplan]

http://www.econlib.org/library/Enc1/NegativeIncomeTax.html

[OMOLIVES]

Negative tax was never about universal income(as talked about today). It was furthering the idea of eliminating the welfare trap. Over the course of time, most things become distorted(the meaning there of).

Negative Income tax is now used today...and was started during the mid 70's:

https://www.irs.gov/credits-deductions/individuals/earned-income-tax-credit-eitc

[fuagf]

12yearplan, Include link, please. You were there so it would have been as
simple as scratching an itch. Saves work too as, explained to others also.

"Milton Friedman proposed the idea of a negative income tax (NIT), which effectively sanctioned a basic income for all, in his book Capitalism and Freedom published in 1962. In his 1964 State of the Union address, U.S. President Lyndon B. Johnson introduced legislation to fight the "war on poverty".

Universal basic income - Wikipedia"