News for hackers. Stuff that matters.

A comment on Young adults in L.A. to get $1k a month under new guaranteed income program. Parent comment

Re:Young adults in L.A. to get $1k a month under new guarant... by gruez on Thursday October 13, 2022 @12:37AM (#33187295)
>one of the biggest proponents for UBI was Milton Friedman through the negative income tax.

A negative income tax is most definitely not UBI. You still have to work to get it, therefore it's not universal. It's a pure wage subsidy program.

[ Parent | on HN ]
Re:Young adults in L.A. to get $1k a month under new guarant... by least on Thursday October 13, 2022 @01:34AM (#33187612)
That is simply not true. If you did not work you would file an income tax with 0 earned income and be eligible for basic income up to the percentage of the break even point. If the break even point was 10k at a 50% rate a person with 0 income would be entitled to 5k.
[ Parent | on HN ]
Re:Young adults in L.A. to get $1k a month under new guarant... by akvadrako on Thursday October 13, 2022 @03:58AM (#33188444)
NIT and UBI are exactly the same, mathematically. You don't need to work to get it – instead your income starts negative.
[ Parent | on HN ]