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You Should Know@lemmy.world · 19 days ago

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.

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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.

en.m.wikipedia.org

andyortlieb@lemmy.sdf.org to

You Should Know@lemmy.world · 19 days ago

Negative income tax - Wikipedia

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18 days ago
It is not. EITC is a tax reduction for the first few $1000s of employment income. NIT is a tax refund even if you pay no taxes.

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