The easier way to explain it is with a formula: Taxes = -10 + 0.3 \* BTI So afte... | Hacker News

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rjtavares on June 30, 2014 | parent | context | favorite | on: Activists push for guaranteed minimum income for C...

The easier way to explain it is with a formula:

Taxes = -10 + 0.3 * BTI

So after tax income becomes:

ATI = 10 + 0.7 * BTI

(You can put on progressive taxes there, but I tried to simplify)

tempestn on June 30, 2014 [–]

That's literally just a restatement of basic income. It's not technically a negative tax "bracket", where tax bracket is a range of incomes on which one pays a given marginal tax rate. I think cdcarter has it right.

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