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Investments glossary

Negative Income Tax – NIT


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Quotes of the day:

a good tooth, gets no gold

— Severin Meiland

Negative income tax (NIT) is an alternative to welfare suggested by, among other proponents, economist Milton Friedman in his 1962 book Capitalism and Freedom. NIT proponents assert that every American without income above the threshold for tax liability should have a basic income guarantee and that NIT is a means to subsidize the needy at less cost than the welfare system.

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