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del.icio.us Digg It!  new Last update - 20:44 18/12/2007 Knesset passes bill granting negative tax to low income workers By Zvi Zarahiya, Haaretz Correspondent Tags: negative income tax  The Knesset plenum passed Tuesday in its second and third readings a bill that will grant negative income tax, but only to workers whose gross monthly salaries range between NIS 1,725 and 5,000, and only in communities in which the Wisconsin Plan, a privatized welfare-to-work program, operates. A negative income tax is a form of benefit payment intended to reduce levels of poverty while simultaneously supporting industry. In contrast to the current method in which benefits are paid, a negative income tax is paid only to low-income workers and not to the unemployed. The The bill that was approved derived from a cabinet bill proposed by Finance Minister Roni Bar-On and a separate one by MK Silvan Shalom (Likud). Advertisement The negative tax will be granted to those workers - including the self-employed - above the age of 23 that have children, and to those workers and self-employed workers above the age of 55 without children, or whose children are above the age of 19. A worker who has between one and two children is entitled to a grant of up to NIS 275 per month, and a worker with three or more children will be entitled to a grant of up to NIS 400 a month. The negative income tax will be paid in the middle of 2008 for income from 2007, and will be divided into four equal payments directly into the workers' bank accounts, and not through the employer. Related articles: Knesset approves negative income tax in preliminary reading Editorial: Yes to negative income tax Bookmark to del.icio.us Organic memory Israeli research is among '50 most significant scientific breakthroughs in 2007.' Floating the PA International donors pledged $7.4 billion to help boost the PA economy .

Today Online IDF strikes kill at least 13 Islamic Jihad, Hamas militants Responses: 365 Bradley Burston: Killing the Palestinian who wishes you dead Responses: 67 Rosner's guest: The PA's goal is the destruction of Israel Responses: 85 Yoel Marcus: Israel doesn't need a new Vietnam called Gaza Responses: 90 Officials: Israel to allow construction in W. Bank settlements Responses: 146 Rosner's Domain Rabin's long memory and the U.S. NIE report on Iran The more Jews complain about Huckabee...(What to Read) Guest: Leader of the Zionist Organization of America on post-Annapolis Mideast Without the Reform movement in Israel, there's no Reform movement More Headlines 19:05 Barak tells U.S. envoy Israel is bracing for militants' retaliation 18:28 Islamic Jihad swears revenge as 13 killed in IDF raids in Gaza 12:33 Vice Premier suggests swapping land with PA to keep settlements 19:55 Israel signs free-trade accord with South American bloc 13:19 Doctor at Jewish NPO in Ethiopia nominated for CNN 'Hero' award 20:44 Knesset passes bill granting negative tax to low income workers 18:16 Hundreds of students hold mock 'funeral' for education in J'lem 17:48 Mazuz, in Winograd testimony, backs IDF action in 2nd Lebanon War 17:48 1,000 Ethiopian immigrants protest plans to halt Falash Mura aliyah 17:12 Education Min. to continue funding Hebrew-language classes for olim Previous Editions Select Day 17 dec 16 dec 14 dec 13 dec 12 dec 11 dec 10 dec 09 dec 07 dec 06 dec 05 dec 04 dec

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