Inequality And Wealth Inequality

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Wealth inequality is a real issue that needs to be fixed. The imbalanced growth of the upper class compared to the middle class is a danger to American society as a whole. The rich becoming richer while the middle class remains the same leads to a power imbalance, with the rich using their money to run the country the way they see fit while the middle class speaks to ears that do not listen. The issue of wealth inequality needs to be fixed by raising taxes on the rich. Paul Krugman 's New York Times article “We Are the 99.9 Percent” and George Packer 's Foreign Affairs article “The Broken Contract” both share similar points of view. Krugman 's article discusses the large wealth gap between America 's middle class and super rich and how we need to raise taxes on the country 's richest to close the gap. Packer 's article explains how the United States reached a point of such a wide wealth gap, how political power imbalance came into play, and subtly states ways we can fix the issue. Krugman points out some alarming statistics in his New York Times article A report on inequality from the Congressional Budget Office…show more content…
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