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1962

Friedman proposes the negative income tax

In "Capitalism and Freedom," Milton Friedman proposes that people earning below a certain threshold receive part of the difference from the government. The idea is to replace several social programs with a single one that is cheaper to administer. A free-market liberal and, later, the left arrive at the same idea by different paths.

Source: Wikipedia, Negative income tax

Milton Friedman in 1976, the year of his Nobel.
Milton Friedman in 1976, the year of his Nobel. Public domain

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