What is income redistribution? What are the types of redistribution? What are th

Question

What is income redistribution? What are the types of redistribution? What are the positive and negative aspects of income redistribution on our economy as a whole and on the general populous? What is income redistribution? What are the types of redistribution? What are the positive and negative aspects of income redistribution on our economy as a whole and on the general populous? What are the types of redistribution? What are the positive and negative aspects of income redistribution on our economy as a whole and on the general populous?

Explanation / Answer

Ans:

Income Redistribution: It is a policy of government to create balance in income level through its policies in the society. The main aim of the policy is to redistribute the income or decrease the income inequality in the economy among various economic sections.

Types of Income Redistribution:

The government use these tax revenues to provide benefit to lower income earner or poor families so that income equality in the society improves. It tries to redistribute income to bring balance in the economy.

Positive Impacts:

Negative Impacts:

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