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[14] [15] [16] For example, despite both being Western civilizations, typical Americans and Europeans do not have the same views on redistribution policies. [17] This phenomenon persists even among people who would benefit most from redistributive policies, as poor Americans tend to favor redistributive policy less than equally poor Europeans.
Sales taxes and payroll taxes are examples of regressive taxes that tend to have a greater impact on low-income households compared to high-income households. This indicates that more progressive income tax policies (e.g., higher income taxes on the wealthy and a higher earned-income tax credit) would reduce after-tax income inequality.
Tax-benefit models are used by policy makers and researchers to examine the effects of proposed or hypothetical policy changes on income inequality, poverty and government budget. Their primary advantage over conventional cross-country comparison method is that they are very powerful at evaluating policy changes not only ex post, but also ex ante.
Transfer payments to (persons) as a percent of federal revenue in the United States Transfer payments to (persons + business) in the United States. In macroeconomics and finance, a transfer payment (also called a government transfer or simply fiscal transfer) is a redistribution of income and wealth by means of the government making a payment, without goods or services being received in return ...
Therefore, the expansionary monetary policy will increase the income gap due to the different asset portfolios. The asset-portfolio channel involves the redistribution of stock wealth. For example, under the expansionary monetary policy, asset prices, especially housing prices, tend to increase even more; and industrial product prices increase ...
Redistributive change is a legal theory of economic justice in the context of U.S. law that promotes the recognition of poverty as a classification, like race, ethnicity, gender, and religion, that should likewise draw extra scrutiny from the courts in matters pertaining to civil rights. [1] The theory was discussed in academia in the wake of ...
It has been used as an input for testing theories explaining the distribution of income, for example human capital theory and the theory of economic discrimination (Becker, 1993, 1971). In welfare economics , a level of feasible output possibilities is commonly distinguished from the distribution of income for those output possibilities.
This implying that the palace economy model might be simplistic foreshadowed the current trend. Halstead summarizes a forum begun by Nakassis and others as [ 14 ] The term 'redistribution' has been used with a range of meanings in the context of the Aegean Bronze Age and so obscures rather than illuminates the emergence and functioning of ...