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Reducing Government Pensions for Retired People


The Considerations of Reducing Government Pensions for Retired People


Public Finance and Government Intervention

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I. 🍃Introduction
- Brief overview of the topic
- Importance of discussing the issue

II. Reasons why pensions should be reduced
- Ageing population increases the burden of pensions
- Result in higher taxes or lower government spending on another area
- Opportunity cost
- Benefits of spending on alternatives
- Encourages some older people to continue to work
- Increase income tax revenue
- Increase output
- Keep some older people healthier

III. Reasons why pensions should not be reduced
- May increase poverty/lower standard of living for some
- Some people may not be able to afford basic necessities
- No other source of income
- Physically demanding jobs may harm their health
- Lower government spending on pensions may reduce total demand
- May reduce output
- May increase unemployment
- Lower tax revenue

IV. 👉Conclusion
- Summary of the main points
- Personal opinion on the issue
- Suggestions for further research or action.

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