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Negative Income Tax
A welfare system within which individuals earning below a certain amount receive supplemental pay from the government instead of paying taxes.
Rawlsian
Pertaining to the philosophical and ethical framework proposed by John Rawls, focusing on justice as fairness and the distribution of resources.
Economic Policy
Refers to the actions that governments take in the economic field, including taxation, government spending, and the regulation of the economy.
Economic Status
The level of economic wealth, or prosperity, achieved by an individual, group, or country, often measured by income, wealth, and employment.
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