2140-2146. Print. Leitch, Vincent B., ed. The Norton Anthology of Theory and Criticism 2nd Edition. New York: W.W Norton & Company, 2010.
Tax cuts are only benefiting the richest people, and will widen the inequality gap between the rich and the poor. A recent report from the Congressional Research Service states, “as the top tax rates a... ... middle of paper ... ...ot let this inequality gap continues to rise; therefore, the government needs to tax heavily onto the rich people, and redistribute their money to the poor. If income inequality continues to grow, the economy will break down. For example, if the housing price continues to rise because of the rich people, poor people will not have a place to live since they cannot afford to buy these expensive houses. When this happens, it will create another housing bubble because the houses are not worth buying, which means the market value of the house exceeds the house’s value; therefore, nobody will buy the house including the riches since they already have houses to live.
The Republicans are against the federal government. In result, they are ruining the concept of the foundations of self- rule in a representative democracy. They use objection, obstruction, and filibustering to block not only the process of government but also in order to make Americans deeply cynical about Washington. According to the book, legislating has become “war minus the shooting”. Eric Cantor, the House Republican leader, said he would shut off major legislation which further on could potentially affect our economic recovery an entire congressional session.
The debate between protectionism and free trade is an issue that has been discussed for centuries throughout every nation. The main question is : Are protectionist policies are bad for America? The answer would be “no”. This is due to the fact that, while international competition from businesses benefits individual consumers, it takes away from the American economy. This in turn means America is losing money that can be income for another, or a source of investment that contributes to the growth of the country.
After illustrating these examples Herbert continues by saying “I... ... middle of paper ... ...s if there will be no consequences. He is especially upset by President Bush’s “middle-class” tax cuts that were estimated to transfer more wealth to the richest one percent of the country’s population than any other economic plan in history. I can’t see how anyone would disagree with Herbert that the United States most defiantly needs to reassess the path it has taken. I completely agree with Herbert that this kind of immoral disregard for responsibility is reprehensible, every dollar spent affects the citizens of this nation, and every dollar wasted on the war is money that could be used to pull people out of poverty or to buy books for poor schools. Bibliography Graff, Gerald, Cathy Birkenstein, and Russel K. Durst.
"Class in America." 2003. The Norton Field Guide to Writing. 2nd ed. New York: W. W. Norton &, 2010.
I also believe that educational and health inequalities are serious auxiliary issues that must be addressed alongside income inequality. The unprecedented level of inequality in the US is not representative of its status as the world's wealthiest nation. Conservative and liberal politicians alike must act to curb inequality and restore equal opportunity to all American citizens. A recent study by the non-partisan Pew Research Center, found that six out of ten Americans believe that the current economic system unfairly favors the wealthy, and that income inequality is a serious issue (Reich 2014b). Many conservative politicians, however, maintain a different ... ... middle of paper ... ...businesses (Reich 2014a).
Corporate greed and extreme partisanship have gotten the American people nowhere, and if they are allowed to continue in the same manner apocalyptic days may be upon us. If America is to find it's way out of this economic mess, small businesses should be the ones getting billions in government aid, not big business. The government should find new ways to deal with the economic collapse because corporate greed, extreme partisanship and a lack of aid for small businesses has not helped. Corporate America has nearly single-handedly caused the crash of the American economy. These giants need to be reined in or they are going to cause a crash the likes of which Americans have not seen since the Great Depression.
The era of volatility has created a shift from America being the middle-class society to simply rich or poor (Sachs, 2011). A gap this large has not been experienced since the 1920’s (Sachs). “The top 1% of households takes almost a quarter of all household income” but an economy this top heavy will not be able to succeed (Sachs, 2011, p. 30). The working classes are struggling with housing, wage, and employment issues. Rich individuals are ignoring these troubles, shipping their business operations out of the country, thus furthering the downward spiral of the economy (Sachs).