A problem I would like to solve is how to improve the economy in the United States as a whole so the lower and middle class can afford the bills, create more job and essentials and taxing the rich so more people make money since the rich already have a lot of money. In today’s economy many people do not have a job which is why the unemployment have been high for the past several months and it just keep increasing month by month. Because of this many parents can give their kids to go to college since the tuition keeps increasing every year in the United States. This is something that have battling my mind the past several of how to improve the economy. The United States is facing economic disaster on a scale few nations have ever experienced. …show more content…
Drastic action is needed to restore our economic and financial independence and we must begin to rebuild our industries in the United States. The government must make it essential to produce more goods and services in American factories by employing American workers. Well one way we have already starting to do is by taxing the rich more. By raising the taxes on wealthy’s may increase economic production and new innovation if we tax the rich more since that already have a lot of income that most people will never have. Sure the rich might complain but this will the economy drastically if this is done. We should also lower taxes on lower-income people in the United States. Since lower-income people saves less money than a high income earner. By lowering the tax rate to 1% they will save money, invested more wisely and potentially start a business career which will improve the economy with this change. Most of the low-income earners are living month to month with a long list of items they would love to have if they could afford them. Many low-income earners will immediately spend any raise or tax break they receive, which will boost the economy with the increase spending. There also needs to be budget cuts in the economy. The national debt is already very high so you can’t increase the spending and spending has to be reduced much. We should also cut college tuition. With these solutions the economy will not only be better but people will afford the things they need and spending of the people will increase with these
David J Lynch says that, “ [s]ocieties that manage a narrower gap between rich and poor enjoy longer economic expansions”, however, in the United States the gap between the have and have-nots has widened (source C). “This country is just getting worse and worse and worse … and that is not a recipe for stable growth” (source C). If we do not do something soon our capitalist country will fall. In order for the income inequality gap to lessen to create a more stable economy the government must invest in education and unionize workers and not provide higher taxation for the top one percent.
Poverty is a complex and growing problem in the United States. As of right now there is no solution. There are proposals and acts, such as Obama Care, that were enacted in an attempt to help people in poverty, and there are so many organizations, such as Habitat for Humanity and The Hunger Project, that try to aid people when they start to lack the necessities, like food and shelter. College students are graduating college with a large amount of student loans and no way of paying them off, people are being evicted from their homes, and employees are being laid off. The unemployment rate in the United States in 2015 was five percent, that’s about fifteen million people. It’s becoming difficult for people to find jobs, therefore making it hard for people to get back on their feet and start living a comfortable lifestyle. Poverty in the
President Obama, in his 2013 State of the Union Address, describes how the issues in education, job creation, new technologies, and environmentalism are crucial in the growth and development of our economy. His purpose is to urge members of Congress and Americans to help reform our government to ensure that those who work hard are able to succeed. Speaking with an authoritative voice, he persuades his audience that although things are going better than before, changes still need to be made to continue to improve the American way of life.
We as Americans, think that we have our lives pretty good. We feel that as we call ourselves, a part of the “Greatest Country in the World.” How? How can we be a part of the “Greatest Nation in the World” if we are so far behind all the other countries in the world in so many aspects and areas. What happened to us? What happened to America trying to be so great and free? How can we get us back in that direction?
Many United States' citizens are unaware of the country's current financial state. Many assume that one of the world's wealthiest countries could never be in debt. This is untrue however, and, in fact, the country with the greatest income per capita is in major debt. This study will examine possible solutions to reducing the United States' national budget deficit.
As Americans, we used to worry little about war, having enough to eat, travel, freedom, and our most basic everyday activities. The tragic events of September 11, 2001 have forever changed the American way of life. We have become more concerned with our physical safety because of the endless terror attacks in America and other countries. Americans have certainly become more patriotic since September 11. Many of us watch the news to learn of any new terror attack or major offensive against cities in Iraq, Syria, Afghanistan, a variety of countries in Africa, Yemen and numerous other locations. The stock exchange hit bottom on September 21 in the 8100 range and is now back over 17,000 (Pellegrini). Oil prices have been dropping, which will help to boost our slowing economy. Unemployment rates will unfortunately probably remain the same. "Manpower, Inc. said Monday that its survey of United States companies' hiring intentions for the first three months of the year barely registered a pulse, but our commitment together to boost the nation's economy will ensure a bright future. America's future seems to be based on our new ideas formed since September 11, but yet we still carry on the problems of the past. There is still many Americans living in poverty. There is still illegal drugs that infest our nation with addiction and crime that encircles the drug trade. There are many children not getting a good education and many of whom who are fearful of violence at our schools. It is up to us as Americans to face these problems head on now more than ever before.
Many people view the United States as a country of opportunity in which you can live happily and be presented the opportunity to achieve any goals that you may have, regardless of your class or financial status. This idea is helped made possible by our government. But our government might not be able to provide as much help to that dream if we keep going deeper into debt. In my opinion we need to fund all of these assistance programs less in America so the rest of us can grow and force other to take responsibility and grow up
In the end, I want to stress that living in the life with this bad economy, everything is somehow more difficult to do than before, but it doesn't mean that we would have to give up on what we really want and stop trying. In fact, the truth is our dreams should never be given up because if we do so, it can lead to some bad aftermath. I think those two solutions listed above can really help with this problem, and people can live much happier when they finally achieve their dreams and get what they want.
One commonly cited solution for increasing the disposable income of the lower-class is rooted in the principles of trickle-down economics, implying that any gains of the wealthy “trickle down” to the remaining members of society. According to this theory, the government should offer more tax cuts and financial benefits to large businesses or investors to stimulate an overall widespread economic growth. Proponents of these trickle-down policies argue that redistribution of wealth from taxpayers to the upper class in the short-term will incentivize high earners to expand their levels of output, and thus generate more jobs and boost the overall standards of living in the long run. However, this proposal fails to recognize the important fact
Income inequality has affected American citizens ever since the American Dream came to existence. The American Dream is centered around the concept of working hard and earning enough money to support a family, own a home, send children to college, and invest for retirement. Economic gains in income are one of the only possible ways to achieve enough wealth to fulfill the dream. Unfortunately, many people cannot achieve this dream due to low income. Income inequality refers to the uneven distribution of income and wealth between the social classes of American citizens. The United States has often experienced a rise in inequality as the rich become richer and the poor become poorer, increasing the unstable gap between the two classes. The income gap in America has been increasing steadily since the late 1970’s, and has now reached historic highs not seen since the 1920’s (Desilver). UC Berkeley economics professor, Emmanuel Saez conducted extensive research on past and present income inequality statistics and published them in his report “Striking it Richer.” Saez claims that changes in technology, tax policies, labor unions, corporate benefits, and social norms have caused income inequality. He stands to advocate a change in American economic policies that will help close this inequality gap and considers institutional and tax reforms that should be developed to counter it. Although Saez’s provides legitimate causes of income inequality, I highly disagree with the thought of making changes to end income inequality. In any diverse economic environment, income inequality will exist due to the rise of some economically successful people and the further development of factors that push people into poverty. I believe income inequality e...
The United States debt and defecit is a major problem in our society. One thing I would propose to the President would be to tax the rich. Time. It's useful to keep in mind how the rich are different. When you are poor, you are willing to trade your time to earn money. When you are rich, you trade your money to get more time. For example, the rich hire people to clean their homes, and they don't waste time shopping for bargains. In business school I learned that when people have different preferences, you can usually find a way to engineer a deal. Gratitude. Imagine that the government arranges to provide genuine person-to-person gratitude to the rich in exchange for higher tax rates. Suppose (bad idea alert) the government makes it a condition that anyone applying for social services has to write a personal thank-you note to a nearby rich person who, according to a central database, hasn't lately received one. Gratitude goes a long way (online.wsj.com/article/SB10001424052748703293204576106164123424314.html).
“One in seven Americans live in poverty, and one in six receive some form of government assistance.” ( Matthews, 2010) Poverty has knocked at the front door of many hard working people who pre-planned for a life of bliss. Blindsided by the turn of the economy, these same people are now turning to others for assistance. On a micro level this is a problem because the face of poverty has changed. The formula for success is no longer as simple as go to school, do well, and get a job. Because of this, many people are now afraid to follow their dreams, because they can’t afford to fail.“America is one of the largest debtor nations in the world.” (Henslin, 2009, p.190) We spend a large amount more in government services and programs then we receive in taxes, which makes us end up close to 600 billion short at the end of the year.” ( Henslin, 2009, p.190) Many of the programs that the government spends money on are programs to help people in poverty. If the level of poverty continues to rise, so will the amount of money that the government spends on these programs, only putting them more in debt.
We as a society are not to the point of no return and we must be able to make some changes to the way we are currently operating in order to right the ship and prevent some of these societal downfalls. There are a few ways that we can start fixing these issues without completely moving to a socialistic structure and still maintain our freedoms presented in American capitalism. The first thing we must do is determine a way to increase our education levels. “In 1979 the average annual salary for Americans with a college degree was 17,411 higher than those without, by 2012 that gap has doubled to almost 35k” (Bloom). With modern economics requiring more knowledge, access to education in more important. If we do not address this issue these problems are only going
A problem America is experiencing is the economic growth, it is a problem because the wealth growth is only affecting the rich. It is as simple as this, the rich are getting richer and the poor are getting poorer. Robert Reich points this out in his text, Why the Rich Are Getting Richer and the Poor, Poorer. This has been a problem recurring since the industrial revolution, because of the labor groups being stuck in that position. Also, the mergers, and lawyers cycle around their money through lawsuits, and takeovers.
After the recession 5 years ago there are still 10 million unemployed; some have been looking for jobs and others have given up (“Poverty and employment”). Theirs jobs out their who also cut homeless people off just because of their living way or their background history. People should focus more on providing poor people with necessary skills for them to take full advantage of expansion employment potential (“Poverty and employment”). Obama care has required employers to provide health insurance to employees working 30 or more hours a week in 2015 (“Part-time Jobs put…”). But many of them have no health insurances. Although some may argue that the government is not responsible for supporting those living in poverty, the unemployed and impoverished should receive government assistance in order to improve the livelihood of those individuals, financially, mentally, and physically, as well as increase rates of employment. Theirs tons of Americans out their who are disable and can not provide from themselves also they have no family, so they need the government to help them with everything they can.