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.
Anothe... ... middle of paper ... ... the ending of the realistic American dream through hard work and honest values, and the decline and corruption due to society's obsession with material wealth and power. From the beginning to end of the Great Gatsby, Fitzgerald explored the idea of corruption of the American dream and society during the 1920s (roaring 20s) at a time of great prosperity and hope in American. Jay Gatsby who Nick once described as “being better than all of them put together’ originally from the Midwest where traditional values were upheld, had became corrupted with his first contact with wealth and power which was daisy Buchanan. Wealth has a corrupting power that can corrupt even a character with the best intentions. To this day American society still struggles with corruption of morals as money has became a major factor in how one is judged and how much power they hold in society .
President Theodore D. Roosevelt used his political influence to regulate big business, control labor disputes, and extend America across the world. He utilized his power as President by using the Sherman Anti-Trust Act of 1890 – power to break up company monopolies. The political portion of the Progressive Era benefited the middle class with the Income Tax Act, women’s right to vote, and the political power of President Roosevelt to break down big business firms. Social improvem... ... middle of paper ... ... feeling uneasy about businesses and political movements, so under President Woodrow Wilson’s New Freedom Plan, he started the Federal Reserve Act of 1903. The economy in the Progressive Era faced many challenges and thus change pursued, big businesses were regulated, child labor laws went into effect, and the Federal Reserve Act was formed to ease the minds of the middle class.
Franklin Delano Roosevelt once said, “In our personal ambitions we are individualists. But in our seeking for economic and political progress as a nation, we all go up or else all go down as one people” (“Herbert Hoover”). This quote highlights FDR’s realistic approach to the economic problems that plagued America and the need for a united people during the 1930s. The dire fiscal conditions and public support significantly helped Roosevelt win the election of 1932, a political turning point where a Democrat won the presidency, which had previously been dominated by Republicans. Roosevelt got the economy back in motion by passing stabilizing banking regulation; his term also marks the creation of New Deal policies, which helped people get back to work.
It was because of this would lead more abundance of corruption and fraud which the old wealth resent the new wealth. Mugwumps had their economic views adjusted and revived enthusiasm for popular government, this then became one of the leading forces for progressivism in a political aspect. I agree is Hofstadter that he defines mugwumps closely to progressive leaders who help contributed to the movement for politics and intellect. Progressivism in essence was the shifts and changes of authority and status during this era.
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.
This blending of corporate and political interests creates an economic whoredom that favors the super wealthy. All while the vast majority of Americans are marred in the chains of political discrimination. Unequal wealth distribution is a significant issue in the United States. The U.S. exhibits the widest disparity in wealth amongst developed countries by a substantial margin. (Government is Good, What is Really Wrong with Government”.
The Great Depression tested America’s political organizations like no other event in United States’ history except the Civil War. The most famous explanations of the period are friendly to Roosevelt and the New Deal and very critical of the Republican presidents of the 1920’s, bankers, and businessmen, whom they blame for the collapse. However, Amity Shlaes in her book, The Forgotten Man: A New History of the Great Depression, contests the received wisdom that the Great Depression occurred because capitalism failed, and that it ended because of Roosevelt’s New Deal. Shlaes, a senior fellow at the Council on Foreign Relations and a syndicated financial columnist, argues that government action between 1929 and 1940 unnecessarily deepened and extended the Great Depression. Amity Shlaes tells the story of the Great Depression and the New Deal through the eyes of some of the more influential figures of the period—Roosevelt’s men like Rexford Tugwell, David Lilienthal, Felix Frankfurter, Harold Ickes, and Henry Morgenthau; businessmen and bankers like Wendell Willkie, Samuel Insull, Andrew Mellon, and the Schechter family.
This ideology is one that has been strongly advocated throughout America’s existence, by politicians from Alexander Hamilton to Pat Buchanan. When a nation faces a trade deficit, it means that competing states are producing more efficiently, and ultimately making profiting. Also, a deficit means that industry and jobs, which could exist domestically, are being “stolen” by foreign nations. According to mercantile policy, this is a zero-sum game; when a competitor is winning, we are losing. The United States faces this situation, having evolved from the world’s largest creditor nation during and following World War II to its current position as the world’s largest debtor.
Reaganomics I will begin by examining the economics of Reagan’s rule. In my research for this paper, I have found many misconceptions that the Reagan Administration saved the economy of the country. The economic policy was known as trickle-down, or supply-side economics, more commonly referred to as Reaganomics. To put it in basic terms, Reaganomics included large tax cuts for the wealthy. The large tax cuts, paired with a large increase in military spending, lead to a massive debt for the country.