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Elucidate redistribution of income

Elucidate redistribution of income?

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1. Transfer payments provide relief to the poor, dependent, handicapped, and unemployment compensation to those unemployed who qualify for benefits.  Social Security and Medicare programs support the sick and aged.

2. Government intervenes in markets by modifying prices.  Price support programs for farmers; minimum wage laws are examples.

3. Taxation takes a larger proportion of incomes of the rich than the poor.

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