Definition (1):
Wealthfare is the government aid to the upper and middle classes. Often, this aid is disguised in the form of tax breaks (e.g., a deduction for interest on home mortgages) or subsidized services (e.g., higher education).
Definition (2):
According to Urban Dictionary, Wealthfare refers to, “A series of benefits conferred unto heirs by wealthy parents and grandparents, rendering the recipient(s) paralyzed to all ambition, objectives, and sense of service.”
Definition (3):
It is also known as corporate welfare. Corporate welfare is sometimes used to explain a government’s bestowal of tax breaks, money grants, or other special beneficial treatment for one or more corporations. Generally, these actions are viewed to be at the citizen’s expense, but in the case of corporate welfare or wealthfare unevenly divided to various corporations, they may be viewed as at other corporations’ expenses as well.
Corporate welfare’s definition is often restricted to major corporation’s direct government subsidies, excluding tax loopholes and all forms of trade and regulatory decisions, which practically can be worth much more than any direct subsidies.
Use of the term in Sentence:
- A government meeting is going on between the cabinet ministers regarding wealthfare.