The system you are describing is what most countries use. This is basically just an extension of that intended for people who make so little they need extra assistance.
Actually, the US Earned Income Tax Credit is basically a version of negative income tax.
The system you are describing is what most countries use. This is basically just an extension of that intended for people who make so little they need extra assistance.
Actually, the US Earned Income Tax Credit is basically a version of negative income tax.
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.