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Economics term...

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  • 14-10-2011 2:58pm
    #1
    Loire
    Registered Users Posts: 2,034 ✭✭✭


    Hi all.

    I studied economics a long time ago and can't for the life of me remember the economics term for the following:

    Instead of having different rates of benefits / allowances, everyone receives the same amount of money each year, say 5k, and anything earned is then taxed at a flat rate of tax. Please help as this is wrecking my head!!

    Loire.


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    #2
    SBWife
    Registered Users Posts: 1,287 ✭✭✭SBWife


    What you describe sounds like the Negative Income Tax proposed by Milton Friedman.


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    #3
    Loire
    Registered Users Posts: 2,034 ✭✭✭Loire


    SBWife wrote: »
    What you describe sounds like the Negative Income Tax proposed by Milton Friedman.

    That's not exactly it, but the wiki page for it directed me to what I was looking for "Basic Income Guarantee". Thanks!


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