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hey its Kyle and today lets talk about an economy with a negative income tax as a way to solve the ineffectiveness of government welfare programs while at the same time shrinking down an equally inefficient bureaucratic system a negative income tax is nothing new its been around since the 1940s first propagated by British politician Juliet Rhys Williams and later gained widespread interest from economists Milton Friedman okay so whats a negative income tax anyway well its exactly like it sounds the US has a progressive income tax or a positive income tax where we work and pay a percentage of our earnings to the government a negative income tax in effect means the government pays you sounds fun well this is for people who dont make enough heres what it is in its simplest form lets say the threshold to qualify for a negative income tax is $40,000 so you make $40,000 or less per year youll qualify then take 50% of the difference from that threshold to what you make so lets say y
