Assertion: negative income tax | /r/HasProperty | nit
Facets:
Source sentences:
text: In economics, a negative income tax (NIT) is a system within an income tax where people earning below a certain amount receive supplemental pay from the government instead of paying taxes to the government.
text: Negative income tax (NIT) is an alternative to welfare suggested by, among other proponents, economist Milton Friedman in his 1962 book Capitalism and Freedom.
text: NIT proponents envisioned negative income tax (NIT) as a mirror image of the existing tax system where tax liabilities of above-the-threshold taxpayers vary positively with income according to a tax rate schedule; and tax benefits of below-the-threshold taxpayers vary inversely with income according to a negative tax rate (or benefit-reduction) schedule.
text: The negative income tax (NIT), which Milton Friedman proposed in his 1962 book Capitalism and Freedom, is a type of flat tax.