Negative Income Tax (NIT) Explained - (The Answer to Welfare) - Milton Friedman | Not An Economist

Correction at 0:26: Juliet Rhys-Williams was born in 1898 and died in 1964, apologies.

Thank you Twister for the narration! Negative Income Tax, best transition mechanism to get us out of the welfare mess and give more freedom to more people. We spend more taxpayer money on Welfare than Social Security, Medicare, or Defense, yet we have increasing levels of poverty, have you asked yourself why? This video also explain the difference between Negative Income Tax and Universal Basic Income

0:00 - Negative Income Tax and Welfare
1:33 - Negative Income Tax Explained (How it Works)
2:44 - NIC vs Today vs Universal Basic Income and a Joke

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