Negative income tax

Discussion in 'Economy' started by Dissent, Aug 6, 2012.

  1. Dissent
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    Dissent BANNED

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  2. gallantwarrior
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    gallantwarrior Gold Member

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    Inform yourself about the Boortz Fair Tax.
    Otherwise, the "negative income tax" is irrelevant.
    Progressive income taxes are anything but fair.
     
  3. EdwardBaiamonte
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    EdwardBaiamonte Gold Member

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  4. Wiseacre
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    Wiseacre Retired USAF Chief Supporting Member

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    From wikipedia:

    From 1968 to 1979, the largest negative income tax social experiment in the US was undertaken. The four experiments were in:[7]
    1.Urban areas in New Jersey and Pennsylvania, 1968–1972 (1375 families)
    2.Rural areas in Iowa and North Carolina, 1969–1973 (809 families)
    3.Gary, Indiana, 1971–1974 (1800 families)
    4.Seattle and Denver, 1971–1982 (4800 families)

    In general they found that workers would decrease labor supply (employment) by two to four weeks per year because of the guarantee of income equal to the poverty threshold.[8]


    Me:
    What this does is remove the incentive to move up the income ladder. Can't support it.
     
  5. EdwardBaiamonte
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    EdwardBaiamonte Gold Member

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    as I recall the basic idea is to eliminate most government programs and bureaucrats and simply give folks money through the IRS. It is highly efficient and it teaches people to budget and allocate their own money.

    When you give welfare and food stamps and medicare seperately you are infantilizing people; showing your prejudice and contempt for them.
     
  6. Dissent
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    Dissent BANNED

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    The reason I like it is because I have lived on 10k or less past 4 years or more and I know how to make things stretch if need be. I do still need help from the government but I would rather have cash on hand to pay for my own things when I need them instead of waiting on a government worker to make sure its done.
     
  7. uscitizen
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    uscitizen Senior Member

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    Pure flat tax with no deductions is the only way to go.
     
  8. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    "Negative Income Tax" sounds like just another game to play by the Money Masters.

    My solution would be for the States to take all Federal Income tax paid by all workers in the State and divert it to State coffers. Then what ever's left (if anything) is sent to Washington.
     
  9. EdwardBaiamonte
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    EdwardBaiamonte Gold Member

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    but if you have just a national sales tax there is no need for 130 million personal returns and very little reason for businesses to cheat.
    Plus it creates an incentive to save.
     

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