Kiplinger. Retrieved January 21, 2014, from http://www.kiplinger.com/article/retirement/T051-C022-S001-how-to-fix-social-security.html (Franklin, 2011) Shiller, R. (2013, June 8). Want to Fix Social Security? Use the Right Wrench.The New York Times; Economic View. Retrieved January 21, 2014, from http://www.nytimes.com/2013/06/09/business/to-fix-social-security-use-the-right-wrench.html?_r=1& (Shiller, 2013) Wang, P. (2013, October 28).
A country’s standard of living depends on its ability to produce goods and services 4. Prices rise when the government prints too much money 5. Markets are usually a good way to organize economic activity U.S. GDP grew at an annual rate of 3.2% (seasonally adjusted) in the last quarter of 2013. Inflation rose at an annualized rate of 0.7%. U.S. trade exports improved significantly in the last quarter of 2013, the most in over three years.
Whether or not to keep or discard the Bush era tax cuts for the wealthy, give tax breaks to the lowest tax bracket, and even throwing out the entire current tax code and replacing it with a simpler version, tax code and tax law has been a very controversial topic for the past few years. As it stands, the current tax code has over seventy two thousand pages, compared to the four hundred pages it had in 1913. There are many different stakeholders in this debate including taxpayers, corporations, businesses, etc. Americans for Tax Reform (ATR) is an organization that was “founded in 1985 by Grover Norquist at the request of President Reagan”(.N.p.). Their goal is to create and advocate for a simple flat tax,“...on the belief that they will provide a strong stimulus to investment, employment, and output” (Stokey 1).
Underemployed can be described as being inadequately employed, such as a low-paying job that requires fewer skills than one possess. (Daly, Hobijn, and Kwok 2015) Making ends meet can be difficult for one who has been affected by this economy over the past few years. America still has a high unemployment rate since the decline of the current job market. And many Americans are struggling to establish the skills needed for employment, or the underemployed are force to lower they skill to make a profit. America’s economic status has force the underemployed and unemployed to make ends meet with the current jobs available.
Gitterman, Daniel P. “Remaking A Bargain: The Political Logic Of The Minimum Wage In The United States.” Poverty And Public Policy 5.1 (2013): 3-36. EconLit. Web. 24 Oct. 2013. Meer, Jonathan, and Jeremy West.
Although it may not seem fair that there are rich people blowing money on impractical and meaningless things while people live in poverty, it’s a reality that the United States has experienced for centuries. Works Cited Desilver, Drew. “U.S. Income Inequality, On The Rise…” Pew Research Center. 5 Dec. 2013.
The World Bank. Retrieved from http://siteresources.worldbank.org/EXTPREMNET/Resources/EP125.pdf Rank, M. (2013). Poverty in America is mainstream. NY Times. Retrieved from http://opinionator.blogs.nytimes.com/2013/11/02/poverty-in-america-is-mainstream/ Staff.
Turning Point USA: Flat Tax. 27 February 2013. 11 January 2014. . Miller, Emily. "The Washington Times: MILLER: Flat tax to the rescue."
“What Are the Political Factors of the World?” http://politicalfactors.com/ (accessed November 14, 2011). Pollock, Philip H. The Essentials of Political Analysis, 3rd ed. Washington D.C.: CQ Press, 2009, 79. Sachs, Jeffrey. “Why America Must Revive its Middle Class.” Time Magazine 178, no.
Mead claims that “the hallmark of today’s poor adults is that “they seldom work consistently,” and “are notably less self-reliant” (211). Furthermore, that, while “much of poverty could be blamed on the fact that unskilled wages were too low for many people to escape poverty” in the past, nowadays it is a “simple fact that rising wages has pulled most of the working poor out of pover... ... middle of paper ... ...he nation’s prosperity as increases in benefits and wages to poor and working class Americans. Most of the gains due to the rise in the GDP in recent years wind up in the hands of the wealthiest of Americans. The increase in income inequality has cause stagnation in real wages among low skilled workers and has led to an increase in poverty. Unable to gain the education necessary to escape the cycle of low skilled jobs with little chance of upward mobility, children of parents who are in poverty stand a higher chance of being in poverty themselves.