Philippe23@lemmy.catoYou Should Know@lemmy.world•YSK: In economics, a negative income tax (NIT) is a system which reverses the direction in which tax is paid for incomes below a certain level.English
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26 days agoNo, negative income tax usually requires that you make some money and file taxes. UBI doesn’t.
One has the intention of encouraging workforce participation. The other tries to help everyone.
No. If you reported $0 in income on your taxes, you get nothing. There’s a minimum income to get anything back. So if you don’t work, you get nothing, so you are incentivized to find a job of some kind.
But that minimum should be quite low and attainable.