Definition of "Transfer payments"

Melissa  Byrd real estate agent
Melissa Byrd, Real Estate Agent Service Matters Realty

Redistribution of wealth by taking money from one group of individuals and allocating that sum to another group of individuals, social insurance is such a mechanism, since the high-income group of individuals will pay proportionately more in Social Security taxes and receive proportionately less in retirement income benefits than the low-income group of individuals.

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