3 ms·
Friedman advocated a form of UBI called negative income tax. Today we know it applied as policy in the form of the EITC.
by ende 9y ago
Friedman advocated a form of UBI called negative income tax. Today we know it applied as policy in the form of the EITC.
- ttoinou 9y agoDidn't know the US EITC, thanks for the info. Read the wikipedia entry, it seems aweful. I actually like M.F. negative income tax as a theorical idea, but don't think it'll ever be applied the way he formulated it.
- dragonwriter 9y agoThe EITC is not a negative income tax or UBI, it's a ramp-up/ramp-up means-tested and behavior-tested welfare program. It may have been inspired by the NIT, but the essence of the inspiration was lost entirely in conventional welfare-program thinking.
- ende 9y agoYes, you're right. To be clear, Friedman's NIT was merely a spiritual successor to the UBI, and the EITC is of course what happens when ideas traverse through the bastardization of academia to actual policy making. Who is to say what an actual UBI would look like after undergoing a similar process.