The article “Confronting Inequality,” written by Paul Krugman, a professor at Princeton University, emphasizes that the middle class suffers from social inequality and economic inequality. Krugman suggests building a stronger safety net so the gap between the poor and rich can be limited to by raising of the taxes. Krugman uses this claim to highlight the fact that the middle class needs to be stronger and the only way to achieve that is to have a strong safety net. Krugman says the rich use loopholes in the tax system to cheat their way out of high taxes, and the poor pay a relatively high tax compared to what they should be paying. Krugman states if these ideas were incorporated into society, it would link the gap between
The law on minimum wage has become very consequential and has came to light to employees whom are required to work the current wage. The state of Texas has had the same minimum wage since 2009 which it is currently $7.25. It has been numerous complaints throughout the state about the minimum wage in Texas. Employees main concern is that they are simply getting underpaid for their work. Compared to other states the minimum wage Texas seems to have fallen very far behind.
Income Inequality or “wage gap” is a big topic for freedom fighters and liberals for the simple fact that it isn’t equal for everyone. Because the wage gap is so prominent it's one of the biggest “facts” that discrimination is still apart of everyday American society. The wage gap from these radical interest groups think the economy is get a dollar take a dollar instead of a free flow economy. This misguided idea of the economy is absolutely not true and isn’t at the fault of the Government, but the people.
In the article “Confronting Inequality” by Paul Krugman it explains how and why large changes between wages of wealth and the problems between the social classes. America's middle class in today’s society are exceeding their limits in effort to give their children opportunities many middle class parents did not have themselves. Ways that many middle class parents are doing this is by buying homes that they can't afford; this is so their children will be able to attend a good school. Another reason why middle class parent are doing this so that their children can have more opportunities to one day slow the growing gap between the wealthy and the poor. Another reason that inequality between the classes is important Krugman believes is because
Wealth gaps in America is something that people do not know much about causing them to not realize how severe it is getting. In America, the top 10% of people (the very rich) are holding 50-80% of the wealth. This statistic is very scary and hard to grasp. Another scary fact is that the top 1% of the population holds around 35% of the United States net worth. People may ask what do these facts mean? They mean that the wealth gaps in America are getting further apart. The rich are getting richer and the poor are getting poorer. The wealth gaps in the social classes in the United States are getting worse because the haves and have nots are widening, the American dream is getting harder to do, the rich are taking more of the pie and, income inequality is on a record high.
As generations changed the country has returned to being unequal. In “Confronting Inequality” Paul Krugman states several points on the world being unequal, but his whole purpose is to help reverse those changes. He begins stating a question, “Why should we care about high and rising inequality?” The living standards, politics, and income are three reasons we should care. An equal society could benefits us in becoming healthier and less competing. A growing difference in social inequality could stop us from having different perspectives.
Are you the "99 percent" or are you the "1 percent" ? In the United States, nationals are set in social classes based upon their salary. This motto focuses on the abundance of the wealthiest and the rest. As indicated by the article "We are the 99 percent" by Brian Shelter, protestors are battling for more equivalent dispersion of wage. They are utilizing online networking like Twitter, Skype, Tumblr, Facebook and more to Arrange occasions and advance their reason.
Nowadays, there is a huge gap of income and wealth inequality in the U.S. and that means the richer people are super rich while bottom people are struggling for basic living standard. There are some direct and explicit statistics from Inequality for All graphic package from which we can tell the phenomenon. In 2010, the typical 1% people earn 33 times of typical male workers but in 1978 the ratio is tenth comparing the male workers with the “1%” people. Also, it says “Today, the top 400 richest people have more wealth than the bottom 150 million Americans put together” (Inequality for All). This shows considerable wealth of the U.S. is controlled in the minority people, which is totally unlike the period of 1950s through 1980s. Why has inequality been widening? As we see the diagram from the graphic package, GDP was spectacularly booming from late 1980s. However, the growth of wages and productivity was almost stagnated ever since 1970s. At that times, economic globalization was taken place deeply and manufacture was moved from developed countries like America to developing countries like South Korea and Japan while financial capital field was tended to be more powerful.
Without a doubt the wealth gap between the rich and the poor has continue to widen. In an article called “Fueled by Recession, U.S. Wealth Gap Is Widest in Decades, Study Finds” written by Patricia Cohen, point out the widening wealth gap between the upper-income compared to the middle-income and low-income. Essentially, upper income wealth has increased 101 percent; it was $318,000 in 1983 and increased to $639,400 in 2013. While low income has decreased 18.4 percent; it was $11,400 in 1983 and decreased to 9,300 in 2013. I think that the government should implement policies to reduce the inequality because it’s becoming an issue. The government should implement redistribution meaning taking income from higher incomes and providing income
A new land where anyone would have the opportunity to become successful; that was the American dream. But it didn’t turn out that way, yes few people did but most of us didn’t. We live in a country where super rich people are leaving the rest of us behind. This is called income inequality; it has been uneven since 1970 and the gap between rich and poor has increased, making it unfair for people who didn’t have the same opportunity, and morally, economically and politically wrong.
Documentary films are aimed at explaining or highlighting aspects that are essential for humans. The film Inequality for All raises the issue of widening income inequality in the USA. The documentary was presented in 2013 by American professor, economist and the former Labor Secretary Robert Reich (Inequality for All 1).
Every time you swipe your credit card or hand a cashier money, you are contributing to our economy by spending money and in exchange for that, you are receiving goods and services that you purchased. The middle class contributes more to the economy than the rich class does. The economy is
Income inequality has grown significantly during this past decades and this phenomenon continues to increase over the years. This problem is constantly discussed in the daily news all around the world. Several consequences of this increase of inequality between people leads to economic problems such as high unemployment rates, lack of work for young people, fall of demand for certain product. The gap between rich and poor is increasing, the rich are richer and the poor are poorer as a result politicians and economists try to adopt certain policies in order to reduce this gap. The United States exhibits a wide difference of wealth distribution between rich and poor people, which is larger than any other major developed country.
19th Century American economist Henry George in his address entitled The Crime of Poverty said, “No person, I think, ever saw a herd of buffalo, of which a few were fat and the great majority lean. No person ever saw a flock of birds, of which two or three