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13-03-2015
Social Studies

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In contrast to a capitalist society, how does a person’s income function in a socialist society?

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Since3122015 Since3122015

13-03-2015

In a capitalist society, a person pays for what they utilize and pays no taxes.

In a socialist society, a person collectively pays for everything publicly funded through taxes.

These are only the definitions of "pure" capitalism and socialism. Currently, no society has such; they have a mix of the two.

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