Okay, I am stupid and confused, and I need help.
From what I understand, transfer payments are unilateral transfers, unlike factor income. I also understand that they include subsidies.
But do they include taxes? All kinds of taxes (direct, indirect)? If yes, then why is 'Corporate Tax' added when computing profit while calculating National Income? Should National Income not be taken after tax?
And if taxes are not all transfer payments, does that mean they are factor payments? Both direct and indirect taxes?
What about deferred income (like retirement pension)? Is that a transfer payment?
Posted by a_weird_mess