Wiktionary
n. a progressive income tax system in which people earning below a certain amount receive supplemental pay from the government instead of paying taxes to the government.
Wikipedia
In economics, a negative income tax (NIT) is a progressive income tax system where people earning below a certain amount receive supplemental pay from the government instead of paying taxes to the government. Such a system has been discussed by economists but never fully implemented. It was described by British politician Juliet Rhys-Williams in the 1940s and later by United States free-market economist Milton Friedman.
Negative income taxes can implement a basic income or supplement a guaranteed minimum income system.
In a negative income tax system, people earning a certain income level would owe no taxes; those earning more than that would pay a proportion of their income above that level; and those below that level would receive a payment of a proportion of their shortfall, which is the amount their income falls below that level.
Usage examples of "negative income tax".
If you put together Project MAC and Bob Ettingers freezers and the negative income tax, you have something that is really quite a lot like The Age of the Pussyfoot .
The United States Government simply issued a declaration that it welcomed any countries in North, Central, or South America, or the Caribbean, to join it, conferring all rights pertaining to American citizens, including the Guaranteed Annual Stipend, or GASsometimes called Negative Income Tax.