Describe the effects of increasing the amount of income redistribution in Canada so that the lowest quintile
Question:
Describe the effects of increasing the amount of income redistribution in Canada so that the lowest quintile receives 15 percent of total income and the highest quintile receives 30 per- cent of total income. Use the following news clip to work Problems 18 and 19. Redistribution and Innovation Drive Canada's Changing Economy Incomes have increased for middle- and low-income families. A child-benefit program gives low-income families $5,600-6,600 per child, tax credits for low- income workers have expanded, and their tax rate has decreased. The tax rate on high-income workers has increased. In 2018, a median-income family of four was $2,000 better off than it was in 2015. Source: The End, July 25, 2019
Step by Step Answer:
Microeconomics Canada In The Global Environment
ISBN: 9781556520617
11th Edition
Authors: Michael Parkin, Robin Bade