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.

Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
The workers, led by Nigeria's President of the International Trade Union Confederation (ITUC) and Nigeria Labour Congress (NLC), Comrade Ayuba Wabba, also used the two weeks event to demand for redistribution of wealth globally, social protection for the workforce and the masses and end to inequality.
He stressed the need to give the role of the State the place it deserves, especially in the field of sectoral policies and the redistribution of wealth, with the implementation of major reforms in the State's relationship with society and the economy and in international relations.
But the economists and analysts point out a yawning income inequality in Bangladesh for what they say a lack of proper focus on redistribution of wealth. Some of them often say in different forums that there has been high wealth concentration in few hands, creating a hiatus between the top 5.0 percent and the rest 95 percent of the population.
The core basis of socialism is not the redistribution of wealth, it is the notion that "society" defines reality, "the social construction of reality." That is why the Cuban government recently arrested parents who dared to home-school their children.
Summary: When wealthy people espouse left-wing causes, such as redistribution of wealth, those on the right often label them hypocrites.
The Shadow Chancellor is hoping to woo Scottish voters back from the SNP with the promise of a massive redistribution of wealth if Jeremy Corbyn becomes prime minister.
The movement, which was sparked by fuel tax increases, is now transforming into a broader demonstration against the government's policies on the redistribution of wealth.
LAHORE -- Provincial Minister for Finance Dr Aisha Ghous Pasha has said that a fair and progressive national tax system can deliver a redistribution of wealth, curb inequalities and ensure everyone of the society benefits from economic development.
I NOTE that Peter Leach fails to address the comment from the UN IPCC Climate Chief who has admitted the man-made warming scare is about redistribution of wealth and not climate.
On the relationship with the EU, of course we have an exceptional partnership and the amount of Europe's investments in Tunisia in the service of growth, the social economy, the redistribution of wealth, young people and interior regions stem from the EU's willingness to accompany Tunisia's transition.