In Leonhardt’s essay “Inequality Has Been Going On Forever…But That Doesn’t Mean It’s Inevitable” Leonhardt explains how the middle class is suffering in a prosperous nation. Leonhardt is the managing editor of The Upshot, a New York Times site, and published an e-book, Here’s the Dead: How Washington Can Solve the Deficit and Spur Growth” (2013) based on economic issues. Leonhardt’s concern is the rapid pace in rising inequality, as the wealthy are affluent in capital gains, taxes, and education. I agree that inequality is a concern because living in a society where everyone isn’t treated the same in terms of wealth causes conflict.
The standard way of thinking about financial gains in terms of rising inequality has it that the wealthy are always one step ahead of the rest of the population. Inequality is regarded as, a norm, and inevitable to society because it has occurred for decades, and hasn’t improved among the middle class. It appears that the rich have always been wealthy, but in recent times everyone affiliated themselves with equivalent levels of capital, therefore inequality levels weren’t as high. During the 1980 and 90s financial crisis, the …show more content…
Wealthy owners can gather savings, and sustain their progressing patterns of income. To adjust this issue Leonhardt, (545), urges “a global wealth tax aimed more directly at capital inequality than income taxes currently are”, as a solution to inequality, however it will apply to those whose incomes are in the millions. Capital gains is the main source profit derives from it, and Leonhardt assumes that taxing capital is a way for the wealthy to pay their fair share in taxes. Although I agree with Leonhardt on taxing capital, I cannot accept his assumption that by doing so will cause much of a difference on the wealthy because they will find other ways to accumulate money without being
The standard way of thinking about financial gains in terms of rising inequality has it that the wealthy are always one step ahead of the rest of the population. Inequality is regarded as, a norm, and inevitable to society because it has occurred for decades, and hasn’t improved among the middle class. It appears that the rich have always been wealthy, but in recent times everyone affiliated themselves with equivalent levels of capital, therefore inequality levels weren’t as high. During the 1980 and 90s financial crisis, the …show more content…
Wealthy owners can gather savings, and sustain their progressing patterns of income. To adjust this issue Leonhardt, (545), urges “a global wealth tax aimed more directly at capital inequality than income taxes currently are”, as a solution to inequality, however it will apply to those whose incomes are in the millions. Capital gains is the main source profit derives from it, and Leonhardt assumes that taxing capital is a way for the wealthy to pay their fair share in taxes. Although I agree with Leonhardt on taxing capital, I cannot accept his assumption that by doing so will cause much of a difference on the wealthy because they will find other ways to accumulate money without being