The economic effects of social security in income redistribution: the Philippine case
Date
1994-10
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Abstract
Income redistribution is a policy adopted by the government that aims to reduce inequality of income through progressive taxation of income and wealth. In this study, we will attempt to provide some light to this goal by studying one of the government's policy, social security.
The operation of a social security scheme involves the provisions of benefits that aims to motivate the people to work. It also guarantee minimum support to a person who has suddenly experience loss of income due to some contingencies. At present the system does more by augmenting one's disposable income through the provision of loans.
Measuring the actual benefits that the people get from social insurance is one of the most difficult thing to study due to the lack of sufficient data. It has posed a greater challenge to us in studying this area of public economics because we saw that this is one of the few measures wherein progressivity of the burden of tax can be realized.
In this study, two of the most important economic concerns will be focused on. The redistribution of income through social security which at the same time promoting this policy as one of the more progressive tax measures.
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Keywords
Social Security, Income Redistribution