Taxes: Being Positive About the Negative

To many Americans, the idea of a guaranteed income smacks suspiciously of a dole to people who refuse to get a job. Others argue that this would not be the case with a guaranteed-income scheme called the "negative income tax." Intended to preserve at least some incentive to work, the proposal has at tracted remarkably disparate support ¬óranging from University of Chicago Economist Milton Friedman, a 1964 adviser to Barry Goldwater, to Yale's James Tobin, a former economic adviser to President Kennedy. Last week the idea got a big boost from inside...

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