Explain why social security redistributes wealth from the, Business Economics

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Explain why social security redistributes wealth from the

1. Explain why social security redistributes wealth from the younger generations to the older ones.

2. Explain why, in general, low income individuals benefit more from social security than high income individuals.

3. Currently there are 2.9 workers for every retiree. Average salary is $50,000 and average benefits are $15,000. What is the average tax rate consistent with a pay-as-you-go system in equilibrium?

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