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 ?
We are excited about our new partnership with ISS, which will help us fulfill the business demands of our customers in the most optimal way," said Bassel Al Fakir, managing director, NIT.
Non- Kashmiri students of the college have now written a letter to the ministry of Human Resource Development ( MHRD), requesting to shift them to NITs in their states " to save their careers".
He asked the NITs to take steps to fill up the vacant posts in a time bound manner, and also called upon the Ministry of Human Resource Development to take measures for providing flexibility to NITs in hiring outstanding candidates from industry, foreign universities, and national laboratories as visiting and adjunct faculty.
And once the Nagaland NIT gets shifted to Nagaland from the NIT, Silchar, they would have its own Directorate with faculty members and other supporting staffs as well.
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.
Next came the very fine nit comb and, I must say, I generally enjoyed the combing through of the hair (except when a tat was caught ( that hurt).
And remember this: In the past two season, the NIT fields have included five teams that had .
The persistent confusion of nits (and nit look-alikes) with an active lice infection has led to significant social and health consequences.
To minimize lice infestation, many US schools adopted no nit policies that prohibit student participation in school activities until all nits are successfully removed.
The total yield on the NIT unit for 2001-02 would come to 37.