negative income tax

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Negative income tax

A proposal to assist taxpayer with below-subsistence-level incomes. After filing a tax return, such persons would receive a subsidy to bring them up above the poverty level.

Negative Income Tax

A tax system or bracket in which persons with an adjusted gross income below a certain amount receive money from the government. This system intends to bring people out of poverty, or at least to make their situations less difficult.

negative income tax

a proposed TAX system aimed at linking the TAXATION and SOCIAL-SECURITY BENEFITS systems for low-income or no-income members of society. This is done by replacing the separate systems for collecting PROGRESSIVE TAXATION and for paying social security benefits by a single system that links the two together by establishing a common stipulated minimum income level, taxing those above it and giving tax credits to those below it.

Proponents of the negative income-tax system point to its advantages in assisting in the removal of the POVERTY TRAP and in making labour markets more flexible. See SUPPLY-SIDE ECONOMICS.

References in periodicals archive ?
NIT is presently holding the assets under its management of over Rs 97 billion.
President Mukherjee further emphasized that improving international ratings should be an important area of attention, and asked NITs to nominate one senior professor as coordinator for interface with evaluating agencies.
Alumni president Rakesh Soni shared his thoughts on how members worldwide could help the NITs enhance their reputation from being institutes of national importance to those of international importance.
Table 2 Data of Facilities among the NIT Libraries SI.
I have three children and so I was constantly going around in circles and thought getting a nit nurse bacK in our schools would help solve the problem.
The Nit Boy books are, first and foremost, a fun read but, at the same time, they're about the pressure that adults put on children and some of the ways that children (and nits) become squashed by these expectations.
NIT will move to a 3,139 s/f space on the sixth floor of the property from its current location at 42 Broadway, reports Brian Waterman, executive vice president of Newmark Knight Frank, the building's managing and leasing agent.
One of the enduring memories of my youth is the regular Saturday night nit hunt.
If it seems questionable whether Oregon with a 14-13 overall record will really interest the NIT, consider this: A year ago the Ducks were 14-11 before the Pac-10 tournament, where they split two games, and received a bid from the NIT.
The total yield on the NIT unit for 2001-02 would come to 37.
Those who whine or cavil about nitpicking may profit from being reminded that a nit is an immature louse.
How can you tell the difference between a nit and dandruff?