Wealth inequality has increased drastically over the last decade. Inequality in itself is not necessarily a social problem. Some people will always have more than others. But when the wealth gap is so blatantly wide that it hinders our economy and negatively affects the majority of the population, it is obvious there needs to be reforms within the system that is unfairly rigged to help the wealthy accrue more and more while the poorest members of the population see their already meager earnings dwindle. The vast wealth inequality in America (and the rest of the world) has been cited as a problem by Obama in many of his State Of The Union, Chairwoman of the Federal Reserve Janet Yellen, and many other liberal politicians and economists.
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The U.S. Catholic association claims that the inequality does result in some problems, and The Moderate Voice states that wealth disparity is a problem but the author explains why it is not recognized as a larger issue in society today. Paul Krugman believes that the wealth gap is an obstacle to economic growth, but for different reasons. Krugman challenges older interpretations as part of his claim. He states that most American politicians during the last 30 years have acknowledged that increasing aid to the poor via higher taxes on the rich does not promote economic growth. Now he believes that there is evidence to support that “American inequality has become so extreme that it’s inflicting a lot of economic damage,” (Krugman). Therefore, the best way to increase economic growth would be to redistribute wealth and attempt to narrow the wealth gap. It is clear Krugman believes that wealth inequality is a problem and asserts that it needs to be fixed for America to …show more content…
The author detests the heightened language used mainly by liberals to depict wealth imbalance. The article specifically focuses on the terms: oligarchy, plutocracy, and demogogy and how “the words used to address populists concerns are inaccessible because no one ever uses them in normal conversation,” (Dupuy). The author does concede that liberals are correct that this is a problem, but they are still misunderstood by almost everyone. The point is that giving the problem a name will allow more people to engage in discussion about the issue and eventually lead to the problem appearing on the forefront of American politics. The U.S. Catholic organization uses the strategy of a familiar type of problem to demonstrate to its readers that wealth inequality is a problem. The article likens the current wealth imbalance to poverty and says that “among that 3.5 billion not sharing in the wealth are people without electricity, adequate nutrition, sanitation, or potable water,” (Clarke). It seems unfair to this organization that so many live in deplorable conditions while others live lives of unimaginable luxury. They state that it is a Catholic’s duty to help out the poor, and while Catholics can do that through charity work and donations, a better solution is to promote steps towards legislation that can more evenly distribute wealth in America and across the rest of the globe. The special
The U.S. Catholic association claims that the inequality does result in some problems, and The Moderate Voice states that wealth disparity is a problem but the author explains why it is not recognized as a larger issue in society today. Paul Krugman believes that the wealth gap is an obstacle to economic growth, but for different reasons. Krugman challenges older interpretations as part of his claim. He states that most American politicians during the last 30 years have acknowledged that increasing aid to the poor via higher taxes on the rich does not promote economic growth. Now he believes that there is evidence to support that “American inequality has become so extreme that it’s inflicting a lot of economic damage,” (Krugman). Therefore, the best way to increase economic growth would be to redistribute wealth and attempt to narrow the wealth gap. It is clear Krugman believes that wealth inequality is a problem and asserts that it needs to be fixed for America to …show more content…
The author detests the heightened language used mainly by liberals to depict wealth imbalance. The article specifically focuses on the terms: oligarchy, plutocracy, and demogogy and how “the words used to address populists concerns are inaccessible because no one ever uses them in normal conversation,” (Dupuy). The author does concede that liberals are correct that this is a problem, but they are still misunderstood by almost everyone. The point is that giving the problem a name will allow more people to engage in discussion about the issue and eventually lead to the problem appearing on the forefront of American politics. The U.S. Catholic organization uses the strategy of a familiar type of problem to demonstrate to its readers that wealth inequality is a problem. The article likens the current wealth imbalance to poverty and says that “among that 3.5 billion not sharing in the wealth are people without electricity, adequate nutrition, sanitation, or potable water,” (Clarke). It seems unfair to this organization that so many live in deplorable conditions while others live lives of unimaginable luxury. They state that it is a Catholic’s duty to help out the poor, and while Catholics can do that through charity work and donations, a better solution is to promote steps towards legislation that can more evenly distribute wealth in America and across the rest of the globe. The special