income redistribution

(redirected from Redistribution of wealth)
Also found in: Acronyms.

income redistribution

a policy concerned with altering the pattern of the PERSONAL DISTRIBUTION OF INCOME in an economy, mainly with social rather than economic objectives in mind. The general aim of such a policy is to achieve a more equitable distribution of income as between the various sections of the community so as to ensure that everybody is provided with some minimum STANDARD OF LIVING. The transfer of income from one section of the community to another is achieved primarily by the use of a PROGRESSIVE TAXATION system and a variety of welfare provisions (subsidized housing, old age pensions, etc).

See ABILITY-TO-PAY PRINCIPLE OF TAXATION, REDISTRIBUTION-OF-INCOME PRINCIPLE OF TAXATION, WEALTH TAX.

References in periodicals archive ?
There has to be a genuine redistribution of wealth.
But a new report claims the Government could reduce the number by 56 per cent with a "modest" redistribution of wealth.
Thus "fairness" and "universal coverage" are shorthand for a New Deal-style redistribution of wealth.
It was last night being seen as a signal that the biggest redistribution of wealth for decades was about to start.
The world of official antipoverty programs developed as a response to popular activism and agitation for democratic redistribution of wealth.
But whatever name is given to a system which plans the production of wealth on the basis of need not greed, surely no thinking person can now deny that a major redistribution of wealth and a fundamental decentralisation of economic and political power is more necessary than ever.
We know that child poverty is a consequence of their parents (particularly women) having low incomes, so any action to end child poverty must involve a redistribution of wealth to Wales.
Some pounds 10billion a year is legitimately put into the pockets of hard working families, a proud redistribution of wealth by anyone's standards.
I suspect that even those only in favour of a modest redistribution of wealth would have regarded some form of inheritance tax as being the fairest way to achieve that end.
And it will also prove that this New Labour Chancellor still believes in the Old Labour principle of the redistribution of wealth.
The left ("by definition," he asserts) is the agent of hope, because it alone works for the redistribution of wealth, the reduction of suffering, the end of sadism, and the defeat of selfishness.
Mr Killeen continued: "There should be a major redistribution of wealth through the tax and benefits system.