America prides itself on being one of the most successful democratic countries. Democracy is an idea where all citizens have a say in their government while chasing the idea of an American dream in which they all have equal civil liberties and a responsive government. However, the effectiveness of democracy is being threatened by increasing economic inequality in the United States as the years pass. The rich keep getting richer without regard that the poor are getting poorer. As this happens social mobility has become limited since people with more money have more opportunities than people with less money. Such opportunities, like getting an education and starting a business can multiply ones earning potential.
Looking back to post World …show more content…
Robert Frank offered a solution in his chapter “Falling Behind: How Rising Inequality Harms the middle class.” He states that, “government facilitated initiatives can as well decrease or increase inequality. Policy makers and social scientists debate the effectiveness and relative merits of every strategy of inequality regulation.” (26). These typical initiatives by the government can reduce the growing gap between the poor and the rich while increasing public education. This, in turn, can increase the skilled labor supply and reduce the income inequality because of education differentials. Economics implementation of progressive taxation will result in the rich being taxed relatively more as compared to the poor; hence the amount of income inequality in society will be reduced. This is due to the fact that as more money is being taxed on the rich, the government will have more money to use to run programs that help the middle class. An example of this would be minimum wage legislation initiative, which will raise the income of the poorest workers. Shifting the economic supply and demand curve to the right leading to long run economic …show more content…
The question is not whether we can afford to do more about our inequality; it is whether we can afford not to do more. The debate in America is not about eliminating inequality. It is simply about moderating it and restoring the American
Looking back to post World …show more content…
Robert Frank offered a solution in his chapter “Falling Behind: How Rising Inequality Harms the middle class.” He states that, “government facilitated initiatives can as well decrease or increase inequality. Policy makers and social scientists debate the effectiveness and relative merits of every strategy of inequality regulation.” (26). These typical initiatives by the government can reduce the growing gap between the poor and the rich while increasing public education. This, in turn, can increase the skilled labor supply and reduce the income inequality because of education differentials. Economics implementation of progressive taxation will result in the rich being taxed relatively more as compared to the poor; hence the amount of income inequality in society will be reduced. This is due to the fact that as more money is being taxed on the rich, the government will have more money to use to run programs that help the middle class. An example of this would be minimum wage legislation initiative, which will raise the income of the poorest workers. Shifting the economic supply and demand curve to the right leading to long run economic …show more content…
The question is not whether we can afford to do more about our inequality; it is whether we can afford not to do more. The debate in America is not about eliminating inequality. It is simply about moderating it and restoring the American