![]() Tax and transfer systems contribute much to the overall lowering of income inequality in most of the OECD member states, and three-quarters of this reduction is attributable to the transfers (OECD, 2012, p.182-183). ![]() ![]() Income inequality can also be reduced through confirmed job security through the slighter wage distribution (OECD, 2012, p.182-183). The rules of the game that reinforce the trade unions also have a propensity to reduce inequality resulting from the labor earnings by bringing forth a more standardized income distribution method. In fact, a relatively raised minimum wage narrows the division of labor income. It is therefore important to note that well-developed labor market policies and institutions are in a better position to lower the rate of inequality. ![]() Among others are the retirement saving incentives, education savings incentives, and targeted tax credits. There have been several changes in the income tax system most of which have been the middle and upper-income classes selectively. ![]()
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