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Capitalism
An economic system characterized by private ownership of the means of production, where investments, production, distribution, income, and prices are determined mainly by competition in a free market.
Socialism
An economic and political system where the means of production, distribution, and exchange are owned or regulated by the community as a whole.
Negative Income Tax
A proposed form of welfare where individuals earning below a certain threshold receive supplemental pay from the government instead of paying taxes.
Top 20%
Refers to the highest earning or most successful 20% of a population or group in a specific context.
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