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0 pointsbigbadfeline21d ago0 comments

> Everyone involved would be better of with a lower (or negative) income tax instead of subsidies.

That's quite wrong. The low income earners effectively pay no income tax - after deductibles and so on - further lowering the income tax would do absolutely nothing for them.

It'd be an economic and political suicide to lower taxes during high deficits while government money is literally blown up into fine dust in various wars around the world.

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gizmo68620d ago

Refundable tax credits are a thing the government knows how to do. If a negative income tax law was written to allow refunds to people who owe net negative taxes, the IRS could do it.

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0 pointsbigbadfeline21d ago0 comments

> Everyone involved would be better of with a lower (or negative) income tax instead of subsidies.

That's quite wrong. The low income earners effectively pay no income tax - after deductibles and so on - further lowering the income tax would do absolutely nothing for them.

It'd be an economic and political suicide to lower taxes during high deficits while government money is literally blown up into fine dust in various wars around the world.

0 comments

gizmo68620d ago

Refundable tax credits are a thing the government knows how to do. If a negative income tax law was written to allow refunds to people who owe net negative taxes, the IRS could do it.

j / k navigate · click thread line to collapse