Wealth Redistribution

Definition

Wealth redistribution refers to policies and practices aimed at reducing economic inequality by transferring wealth from wealthier individuals or groups to those with fewer resources. It involves methods such as progressive taxation, social programs, and wealth transfer mechanisms.

Related terms

Progressive Taxation: A tax system in which individuals with higher incomes pay a larger percentage of their income in taxes compared to those with lower incomes.

Income Inequality: The unequal distribution of income among individuals or households within an economy.

Wealth Gap: The disparity between the wealthiest members of society and the rest of the population in terms of accumulated assets and financial resources.