Krugman points out how despite the obvious and ever growing gap between the rich and middle class in terms of wealth increase, Republicans tend to vote for tax cuts for the rich and for decreases in funding for programs that benefit the middle and lower classes of society, such as Social Security, Medicare, and Medicaid. Cutting funds for these services puts the middle and lower classes at even more of a disadvantage than they already were. Meanwhile, the rich receiving more tax cuts means they receive more money, furthering the economic wealth gap and increasing the money they can spend to influence politics. Krugman suggests the solution to the problem is increasing taxes on the
The gap between the rich and poor that has continuously increased throughout the decades makes it even more challenging for an individual to jump from the poor class to the rich. The rich, receiving large tax breaks, stay rich. This leaves the Americans in the poor class to carry the burden of the heavier taxes, leaving them in the same class with little to no hope of becoming rich and obtaining the American dream. In addition, delaying and denying citizenship to immigrants hinders their ability to obtain wealth and the American dream. Low wages also decreases the ability for many Americans to gain a higher education, decreasing the likelihood they will receive high wages and the American dream.
There seems to be a huge gap of inequality and it seems to do nothing less than get bigger. Inequality is an issue within our country and is restraining the U.S. from being top notch the way it could be if we put more effort in. The U.S. has the most unequal distribution of wealth and income by far. The middle class is the heart of the economy and it keeps it going. The United States of America has the most unequal distribution of income and wealthy far, verging to an even greater inequality (5:33).
The world that we live in today has economic inequality and its only increasing. The richest people and countries are only growing wealthier and the poorest people and countries are growing poorer and poorer each day. This is due to a lack of nationalism, unfair working laws, corporations and developed wealthy countries taking over and stealing resources from less developed countries. Economic inequality started during the Industrial revolution. The industrial revolution created jobs and, for the upper and middle class, a more comfortable way of living.
One of the biggest issues that has been plaguing north america is the huge gap between the rich and the poor. As this gap increases the more corrupt the people in it seem to get. This becomes even more of a problem because with the system that the Americas uses only the rich get richer. The source believes that it is the framework of our society that creates this gap and this makes sense. The western world is filled with the idea that in order to be happy a person must have as much money as possible however, this leads to people doing whatever they deem necessary to become more rich; this includes ignoring the position they are putting others in.
The American deficit grows every day, along with the wealth divide between the wealthiest and poorest Americans. The nation’s financial standing is worsening by the second, and something must be done to improve it. The richest Americans are only getting richer in this time of economic crisis, and tax increases for the wealthy are a viable way to more equally distribute wealth throughout the lower classes in the United States. It may be true that some of the wealthiest citizens have earned their money, but action should be taken to help the struggling majority of the country instead of the privileged few. The United States has a responsibility to give the lower classes an opportunity to rise out of poverty, and if the lower class continues to grow like it is now, this nation could have larger problems to deal with in the future.
However, in recent years the gap between the rich and the poor has been growing at a fast pace. This prevalence of income inequality in a free market society like the US indicates that inequality is a direct result of a market or government failure. In a free market it is believed that individuals possess an equal opportunity to be successfully, but because of misallocation of resources in a market economy this is not possible. The resources I am referring to here are those that are needed for a person to escape poverty and earn a higher income. This includes merit and public goods that individuals with higher incomes can afford and indulge themselves in while people with lower incomes or suffering from poverty depend on some endowment from the state, such as healthcare, education, and access to employment opportunities and professional networks.
Although there are people and organizations that strongly believe the government shouldn’t raise the minimum wage because it will cause a higher unemployment rate, we must raise the minimum wage now to create more jobs, help families across the country that are sinking deeper and deeper into debt, and fix the broken tax code that is taking so much money from the poor and so little from the rich. It has long been thought by many that wealthy Americans are the job creators. It’s said that the more money they have the more they can spend, and the more businesses they can start up and hire employes. But this is a misconception because it is the middle class that drives the United States economy. The United State’s economy is a consumer economy 70% to be exact(Rogow 16) but how much stuff does a multimillionaire consume?
Many conservative politicians, however, maintain a different ... ... middle of paper ... ...businesses (Reich 2014a). Wealthy political power has engulfed Washington, as well as state and local governments, crowding out disadvantaged voices. The failure of social safety nets, services, and poverty reduction policies represents the influence of wealthy individuals, and the US government’s latency toward effective, socially beneficial policies. The wishes of a few have replaced the sentiment and need of many. If American society is going to improve and join the cohort of more economic and socially equal high income countries, the US government must tackle income inequality as well as strengthen poverty reduction policies.
: “…the most worrisome problem is inequality: that wealth is concentrated into the hands of a rich minority.” Because of this, many Americans and politicians are arguing about either “raising the taxes on the rich” or “supporting the richest sectors in America” (Thomas, 2011) to stimulate the economy. In the articles I have read in They Say, I Say: The Moves That Matter in Academic Writing, both Cal Thomas and Brandon King seem to believe that the government should not tax the rich minority more than the poor majority. I disagree with both Cal and Brandon and believe that the rich should be taxed more than the poor. However, the income from the taxes should be put to use for the betterment of the poor majority of America. Do you think that the American government is out of control?