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Is a Negative Income Tax viable?

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Metalsie
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Post: #1
Is a Negative Income Tax viable?

If it is, why isn't in implemented at a large scale anywhere?

19.02.2016 05:20
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Helsworth
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Post: #2
RE: Is a Negative Income Tax viable?

Metalsie Wrote:
If it is, why isn't in implemented at a large scale anywhere?

For the same reason a true flat tax isn't applied (no exemptions or deductions). Because the status quo profits from a thick & confusing fiscal code, in which accountants can help out those able to afford their services pay less in taxes or secure tax credits. So many loopholes benefit people (the "right" people, so to speak); so lobbyists prefer to keep the system unchanged. People usually complain that the rich should be taxed higher than your average working Joe - but truth of the matter is they don't even pay the same rate as the average Joe, but well below it.


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19.02.2016 08:19
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Ajay Alcos
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Post: #3
RE: Is a Negative Income Tax viable?

Another reason is obstinance. Government's (and individuals in general) tend to avoid implementing radical changes or measures if they haven't been shown to work elsewhere.

This post was last modified: 21.02.2016 11:56 by Ajay Alcos.

21.02.2016 11:55
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Richard Wilson
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Post: #4
RE: Is a Negative Income Tax viable?

Yes, it's viable. Indeed, a form of this exists in America. The Earned Income Tax Credit (EITC) was introduced during the Republican Ford Administration as an alternative to Milton Friedman's NIT. It has been shown to be the most effective anti-poverty measure and has since been expanded under numerous Administrations. EITC encourages workforce participation, increases disposable income, and stimulates consumer demand and expenditure.

25.02.2016 07:32
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Everlo18
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Post: #5
RE: Is a Negative Income Tax viable?

Interesting question! When I was studying for my exam, my brother cleared his financial advisor exam as he wants to become a certified financial planner india and I was very happy about that. Must share this post with him for a better understanding.

26.12.2018 10:19
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