Milton Friedman Proposed Scrapping Dozens of Welfare Programs With One Negative Number on the Tax Form

In 1962, Milton Friedman floated an idea that sounded strange at the time: instead of dozens of separate programs for farm subsidies, minimum wage, and old-age insurance, simplify it all into a single negative number on the income tax form. Anyone earning below the exemption threshold would receive money instead of owing it.

2026-09-23

Think & Rich