Definition of "Transfer payments"

Debbie Lowman real estate agent
Debbie Lowman, Real Estate Agent Century 21 Don Gurney

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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