Income redistribution

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Income redistribution or redistribution of wealth is a political policy promoted by members of the political left, especially socialists, and opposed by members of the political right.

The basic premise of the belief is that money should be more equally distributed so it favors all members of society, and that the rich should be obligated to assist the poor. Thus, money should be redistributed from the rich to the poor, creating a more financially egalitarian society. Often, proponents of redistribution argue that the rich are exploiting the poor or otherwise gaining unfair benefits, and therefore redistributive practices are necessary in order to redress the balance.

Today, income redistribution occurs in some form in most democratic countries, most commonly through income-adjusted taxes (in which the amount of tax paid is directly connected to one's income), some of which goes to fund welfare programs to assist the poor.

The general idea of the rich paying higher tax than the poor is undisputed in most countries under the principale of ability to pay, however in many countries attempts to tax the rich too high have resulted in economic problems which the rich can cope with, but the poor cannot. A fine balance is to be struck beetween social duty and individual rights, this debate goes on today.