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Economics 101: Welfare | SterlingTerrell.net

Economics 101: Welfare


What is welfare?

Welfare is any government program is used to redistribute to the needy, in an effort to supplement their incomes.

Examples?
  • Social Security
  • Food Stamps
  • Earned Income Tax Credits
  • Medicaid
Economist worry about incentives in cases like this.

Why?

Because, if you tax something, you get less of it, and if you subsidize something, you get more of it.