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The third channel is for the state to tax workers, and use the funds to transfer the resources to the old, both for medical support and pensions. A key question is how the state will see the balance between higher taxes on those currently working, including workers of all levels of skill, managers, rentiers and capitalists, and the generosity of pensions.
The Great Demographic Reversal: Ageing Societies, Waning Inequality, and an Inflation Revival
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