You're absolutely right. It really is just a tax cut. However, what you call something and how you structure impacts how people react to it. Call it wages and

You're absolutely right. It really is just a tax cut. However, what you call something and how you structure impacts how people react to it. Call it wages and spread it over time and people react one way. Call it a bonus and hand it out once a year and people behave differently. So while it may be more correct to call it a negative income tax, this may work against the intended economic effects.