Give Three Reasons Why an Equal Distribution of Income Is

question 34

Essay

Give three reasons why an equal distribution of income is not necessarily fair. Discuss each of them.

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Definitions:

Form 4684

A tax form used by the IRS for reporting losses or thefts of personal, income-producing, or business property.

Casualties and Thefts

Financial losses resulting from the damage, destruction, or theft of personal property that may be deductible under certain conditions on a tax return.

Schedule D

A tax form used in the U.S. to report capital gains and losses from the sale of investments or property.

Gambling Losses

Money lost from betting and gambling, which can be claimed as a deduction to the extent of gambling income on a tax return.