Polsci 300 paper

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The United States used to be known as the “land of opportunity” but today; this statement is slowly dissolving because of the increasing gap in income inequality and the rising poverty rates. Although the United States GDP has nearly tripled over the last 40 years, only a small percentage of American’s have reaped the benefits of this massive growth. The reason that caused the real income for the middle class to barely increase is because of tax cuts and other political policies that have funneled money to the upper echelon. Wealthy American’s are able to receive tax cuts and policies that are in their favor because they have a significant influence on politicians and are able to persuade them to pass laws in their favor. The United States government should increase taxes on the wealthy, increase the minimum wage, institute more pre-kindergarden education opportunities for poor children, and expand the Earned Income Tax Credit program, which would reduce the income gap between the social classes and promote social mobility to revive the faith that the U.S. is the land of opportunity. Over the last 40 years the wealth of this nation has grown significantly but this does not mean that the income for all Americans has grown. The Great Compression ended in the 1970’s and it was an era where the income inequality gap decreased. From 1980 to 2005, the top 1 percent received 80 percent of the total increase in Americans’ income. On top of that the top 1 percent received 24 percent of the nations income (Noah). Don Peck states that the richest 1 percent of Americans makes as much money as the bottom 60 percent. While there will always be income inequality in a capitalistic society, the difference in income between the top 1 percent an... ... middle of paper ... ... incomes from $36,900 to $50,300. This program provides $2,700 in supplemental income for these families in which they use these funds for necessities. While families receive this much from EITC program, individuals who are making less $13,900, only receive a very small amount. As this program is expanded, I believe that the EITC should expand their coverage on individuals without children. Currently, a family without children receives $259 and this is not enough for a family only making $19,200 (CBPP). I do believe that this program is beneficial because it encourages people to work instead of relying on welfare but I think that it should increase the tax credit given to these low-wage individuals. With all of the extra income through expanded taxes to the wealthy, I suggest that the United States should invest in pre-school education opportunities for the poor.

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