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October 15th, 2013, 00:55
Milton Friedman et al. did have an idea of what he and other monetarists (if that's the right term?) called 'negative income tax'. Which basically is this: you don't pay income tax untill you yearn say 7500 DKK, or about 1500 US dollars. This is one of doing it, another way of doing it is this:

If you're unemployed, you get a basic (minimal) income that enables you to get by. If you work a few hours, there will be no deductions in your basic income - as I understand it. The basic income pr. month could range from say 500 US dollars to 1500 US dollars. The point of this being that this will free people from having to be controlled by the state all the time; it will also help people to get a low level entry job, since they don't have to fear that every penny they earn will be deducted penny for penny in say their social welfare (money).

Earlier in the thread someone mentioned Denmark; we have sort of touch of this negative income tax system. If you are a resident of Denmark you'll need/have to pay your taxes. If you earn less than 42.000 DK (=7.000 US dollars), you are, as In understand exempt from paying taxes. This is because each person in DK who pay tax, (the person, not DK ) has personal deduction for this amount.(the 7.000 US dollars).

My personal opinion on this matter is that basic income is a great idea; it solves the byrocracy of officials having to control everyone and everything; it also solves the problem/challenge with people on welfare ir unemployment benefint not being able to do what they want. Since the state etc. requires them to this anddo that. With a basic income all this goes away…

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