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Milton Friedman on Guaranteed Income / Negative Income Tax / Basic Income

Matt Orfalea
96.3K subscribers
28K views 6 years ago
Why Milton Friedman Supported Guaranteed Income | 5 Reasons Milton Friedman supported a guaranteed minimum income with a Negative Income Tax (NIT). While NIT and Universal Basic Income (UBI) are both guaranteed minimum incomes, the difference is a UBI goes to everyone automatically, while a NIT is distributed based on income. That's why I made sure to refer to Friedman's NIT as a guaranteed income rather than UBI. Even though they are very similar and the arguments for universal basic income and negative income tax are nearly the same. Transcript:   / why-milton-friedman-supported-a-guaranteed...   "Suppose one accepts, as I do, this line of reasoning as justifying governmental action to alleviate poverty; to set, as it were, a floor under the standard of life of every person in the community." - Milton Friedman "Poverty: A Direct Approach" (1964) https://miltonfriedman.hoover.org/int... Matt Orfalea ▶  / 0rf   ▶  / 0rf   ▶https://www.minds.com/MattOrf ▶  / mattorfvids   Subscribe ▶   / orf   Support my work ▶  / orf   ...more
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Milton Friedman on Guaranteed Income / Negative Income Tax / Basic Income
1.1KLikes
28,014Views
2019Feb 26
Why Milton Friedman Supported Guaranteed Income | 5 Reasons Milton Friedman supported a guaranteed minimum income with a Negative Income Tax (NIT). While NIT and Universal Basic Income (UBI) are both guaranteed minimum incomes, the difference is a UBI goes to everyone automatically, while a NIT is distributed based on income. That's why I made sure to refer to Friedman's NIT as a guaranteed income rather than UBI. Even though they are very similar and the arguments for universal basic income and negative income tax are nearly the same. Transcript:   / why-milton-friedman-supported-a-guaranteed...   "Suppose one accepts, as I do, this line of reasoning as justifying governmental action to alleviate poverty; to set, as it were, a floor under the standard of life of every person in the community." - Milton Friedman "Poverty: A Direct Approach" (1964) https://miltonfriedman.hoover.org/int... Matt Orfalea ▶  / 0rf   ▶  / 0rf   ▶https://www.minds.com/MattOrf ▶  / mattorfvids   Subscribe ▶   / orf   Support my work ▶  / orf  

Follow along using the transcript.

Matt Orfalea

96.3K subscribers