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How Does Planned Obsolescence Benefit Corporations? Provide an Example

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How does planned obsolescence benefit corporations? Provide an example.


Definitions:

Social Security Retirement System

A government program that provides retirement income to eligible retirees, funded by payroll taxes from current workers and employers.

Income Redistribution

A policy aimed at balancing economic inequality by reallocating wealth and income from wealthier segments of society to poorer ones through taxes, welfare systems, or other means.

Social Security Benefit Formula

The calculation used to determine the amount of benefits one receives from the Social Security Administration, based on earnings history and age.

Below-Average Earnings

refer to income levels that are lower than the average earnings within a specified population or employment sector.

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