Negative income tax

The idea of a ‘universal income’ or ‘negative income tax’ is a proposal that gives people a certain amount of money instead of giving them welfare. It takes everybody and treats them the same, a negative income tax applies a tax rate to a persons situation and depending on your income you either pay tax or receive a top up.

It’s important to note that the ‘minimum’ is not the same as ‘making equal to’ the point at which you start to pay tax. It’s an interesting idea but one which may have practical challenges if implemented.

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