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Redistribution of Wealth

The phrase redistribution of wealth commonly refers to government policies that are intended to increase the income or benefits of poor people using money raised by general taxation of the rich, the prosperous, and the middle classes. However, many writers have pointed out that government and tax policies sometimes have the opposite effect of transferring money from the poor or middle classes to the rich. Government bailouts of financial firms (and the expectation of such bailouts) are a good example of upward redistribution. Sometimes the debate is limited only to the redistribution of income, but generally, any policy intended to benefit one segment of the population whether in the form of income or services can be considered an attempt to redistribute the wealth. The ethical ...

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