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Transfer Payments
Transfer payments are the distributions of money by the government to individuals without the requirement of goods or services in return, such as welfare or social security.
Income Redistribution
A policy or mechanism aimed at transferring income from certain individuals or groups to others, often to reduce economic inequalities.
Progressive
Describes policies or ideologies favoring social reform, innovation, and gradual improvements over time, often in the context of taxation, societal change, or politics.
Regressive
Refers to policies or measures that disproportionately affect those with lower incomes, often making them bear a larger relative burden.
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