By Park Jae-hyuk
The idea of a negative income tax has reemerged in Korea as an alternative to a universal welfare system.
A negative income tax allows people earning below a certain level of income to receive supplemental pay from the government, instead of paying taxes. British politician Juliet Rhys-Williams, U.S. economist Milton Friedman and several other scholars proposed the concept in the past.
Although the negative income tax was first described in the 1940s, it has recently been a hot topic here amid growing concerns over the Moon Jae-in administration’s spending on universal welfare benefits.
For the health, […]
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