income redistribution
/ɪnˈkɒm rɪdɪˈstrɪbjʊn/ · in·come re·dis·tri·bu·tion
noun
- The process of redistributing income from one group of people to another, often through taxation and government spending. The government implemented policies to reduce income inequality through income redistribution.
noun
- A policy or system aimed at reducing economic disparities by redistributing income from the wealthy to the poor. The economist argued that a progressive tax system is a form of income redistribution.
noun
- The act of reallocating income from one economic sector to another, often to promote economic growth or stability. The government implemented income redistribution policies to stimulate the economy during the recession.
Synonyms
Antonyms
Did you know? The concept of income redistribution has been a topic of debate among economists and politicians for centuries, with ancient philosophers such as Aristotle discussing the idea of redistributing wealth to promote social justice.