A negative income tax?

[x-Guy]

I simply want to know what is everyone's opinion in regards to a negative income tax. This was something that was supported by Milton Friedman and I wanted to ask if this is something that may actually work or not? Please feel free to share your thoughts on the issue.

[Kingpoleon]

I suggest we: guarantee up to $9,500 for everyone making under $10,000(I. E. $500 or less gets $9,500; $1000 or less gets $9,000, etc.); guarantee another up to $8,000 for everyone making under $20,000(I. E. $10-12,000 gets $8,000; $13,000 gets $7,000, etc.); and maybe instead of making it directly money, it would be best to do food, clothes, and rent vouchers, with recommended meal plans/diets.

[mileslunn]

I think as long as it is set at the right amount which will not doubt be the bone of contention I think it is a great idea.  Unlike a guaranteed annual income, you aren't penalized for working as you still make more for working and it would save taxpayers a lot of money.  Many social programs aimed to help the poor could be eliminated as they would have sufficient money to pay for it so that would help reduce poverty at a lower cost as you would be able to eliminate all the bureaucracies involved.

[Starry Eyed Jagaloon]

Freedom Idea.

[muon2]

The Earned Income Tax Credit is a negative income tax and is reasonably well tuned to avoid people intentionally earning less just to get the credit.

[Sadader]

The Earned Income Tax Credit is a negative income tax and is reasonably well tuned to avoid people intentionally earning less just to get the credit.

Yep, the EITC as known in American discourse is very good, but functionally its the same as an NIT.

[NeverAgain]

The Earned Income Tax Credit is a negative income tax and is reasonably well tuned to avoid people intentionally earning less just to get the credit.

Definitely this. I am really sad there is been literally NO discussion of the Brown-Khanna GAIN Act. Literally the same cost as the GOP Tax Bill, yet does SO MUCH MORE for the American People.

[Holy Unifying Centrist]

The Earned Income Tax Credit is a negative income tax and is reasonably well tuned to avoid people intentionally earning less just to get the credit.

Definitely this. I am really sad there is been literally NO discussion of the Brown-Khanna GAIN Act. Literally the same cost as the GOP Tax Bill, yet does SO MUCH MORE for the American People.

Exactly.

[President Punxsutawney Phil]

The Earned Income Tax Credit is a negative income tax and is reasonably well tuned to avoid people intentionally earning less just to get the credit.

Definitely this. I am really sad there is been literally NO discussion of the Brown-Khanna GAIN Act. Literally the same cost as the GOP Tax Bill, yet does SO MUCH MORE for the American People.

Exactly.