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I still liked Milton Friedmans proposal for a negative income tax for this reason. You just piggyback on the existing income reporting mechanism of the IRS - j
by legitster 9mo ago
I still liked Milton Friedmans proposal for a negative income tax for this reason.
You just piggyback on the existing income reporting mechanism of the IRS - just add a filing for people with no income. And the way the IRS withholds for tax season is just done in reverse.
Yes there would be fraud, but no more than the amount of fraud that already happens on taxes. If anything, it actually incentivizes us to finally fix our tax system.