Bingo! (Presidential debate edition)
Planet Money
Support the Needy with Income Redistribution
The negative income tax, originally popularized by Milton Friedman, proposes a system where low-income individuals receive financial assistance instead of being taxed on their earnings. This policy, endorsed by a diverse range of economists, aims to provide direct financial support to those in need, thus addressing poverty effectively. The concept is akin to a bonus for low earners, and it shares principles with the Earned Income Tax Credit, which was established and expanded in the 1970s through the 1990s.
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