Many people have not heard of the “negative income tax,”
and, if you haven’t, don’t worry. It’s not a real thing- just an idea that some
people believe in.
The idea behind the idea, so to speak, is to provide those
who are poor with money. People who support the negative income tax believe
this is a better solution than the government programs that currently exist,
such as subsidized housing and tax credits.
Proponents of this idea think that those with little or no
income should file tax returns and then, if they meet certain requirements, be
supplied with a pre-determined payment amount based on factors such as
household size.
While the negative income tax obviously doesn’t exist yet-
and some say it never will- it’s an idea that many people stand strongly
behind. And, those who do believe in this idea also tend to support the Basic
Income Guarantee, a theoretical policy that would provide a “floor” income for
every American, basically ensuring that everyone could maintain a certain
sustainable quality of life.
Obviously, these ideas are pretty radical, so it makes sense
that people tend to feel very strongly about them one way or the other. People
who are “for” ideas like these think that it would help the economy and better
the lives of all Americans. Others, however, think it would discourage people
from working harder and create even more of an “entitlement” generation.
Right now, though, it’s all just a matter of conjecture and
talk. However, no one knows what the future holds, so it’s not a bad idea to
think about ideas such as these and to decide where you stand. Who knows? One
day, you may have to vote on a matter like this.