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Tax Liability
The total amount of taxes owed by an individual or a corporation to the tax authorities.
Negative Income Tax
A proposed system of social security that guarantees a minimum income to all, where those earning below a certain amount receive supplemental pay from the government instead of paying taxes.
Income Subsidy
An income subsidy is a government-provided financial assistance program intended to boost an individual's income to a level sufficient for meeting basic living standards.
Negative Income Tax
A program where the government provides additional income to those who earn under a specific threshold, rather than collecting taxes from them.
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