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Income Redistribution: Public Finance

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What effect has income redistribution had on the economy? Why is this? How might this be improved?

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The response provides you a structured explanation of Income Redistribution . It also gives you the relevant references.

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Income redistribution has a harmful effect on the economy. Income redistribution is brought about through a progressive, discriminatory income tax structure. There are income slabs; those in the higher income slabs are required to pay a higher tax rate. When the purpose of taxation and government regulation is to redistribute incomes, incentives to work among those that are taxed is reduced. ...

Solution provided by:
Hatim Baxamusa, MBA
Education
  • BSc , University of Calcutta
  • MBA, Eastern Institute for Integrated Learning in Management
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