Essay On Income Inequality

Great Essays
Income inequality has been around for so long that I don’t even think that the average American has any ideas on how to fix it. “Ultimately we could end up with a society in which the rich separate themselves from everyone else”(David Leonhardt). I believe that David was completely right when he said that because that is exactly what has happened. Espically, today with elections coming up we hear all over people’s campaign so and so is giving tax breaks to the rich or something similar. Why is that? I believe the rich should be paying more in taxtes because they are rich and have the money to do so. I have read some articles and have found two that have ideas that are similar and different ideas on how to fix income inequality.
McClellan
…show more content…
I agree with him when he says that “no American working full time should be in poverty” (Robert Reich). I agree because somebody working full time shouldn 't have to worry about how to pay for food or a home or simple basic necessities. They are working to try and better their life and with the economy the way it is’ it can seem impossible to make their lives better. The next step he talks about is unionizing low-wage workers. Unions gave the middle class a voice and bargaining power when it came to economic growth, but without unions they lose their voice. The future of the middle class would then fall into the hands of the unions of the big corporations. His third step is to invest in education. “High-quality education should be freely available to all, starting at the age of 3 and extending through four years of university or technical education” (Robert Reich). Education affects the economy more than I think people realize. In today’s day and age you can’t get a high paying job without a college degree, but not everyone in the middle class can afford to go to college. This leaves them with the option of staying at the low paying jobs or taking out a loan. The fourth step Reich focuses on infrastructure. What he means by infrastructure is the long commutes it takes to get to work, the very high house and apartment costs, lack of internet access, poor power and water sources. Americans work hard and deserve adequate housing, power and water sources, internet access and commutes to work that don’t take forever. The next step he talks about is having the wealthy pay for the investments I have already mentioned by making the rich pay higher taxes. In 2001 and 2003 George W. Bush made tax cuts, the taxes on the rich were cut, and tax loopholes for the wealthy widened. Bush’s idea was that the cuts’

Related Documents

  • Improved Essays

    “In the past decade the wealthiest percentile has seen its income grow by 17 percent.” (Myers) So let’s do the math. The 1 percent of the population that already controls 40 percent of the wealth continues to get richer but the poor is still being asked to pay more in taxes. While this is happening the mighty 1 percent continues to receive tax breaks to protect their fortunes.…

    • 1360 Words
    • 6 Pages
    Improved Essays
  • Great Essays

    In modern America, not only are the rich privileged by benefiting from how America’s tax system works, but the poor are also being oppressed by it. The 2015 edition of Who Pays: A Distributional Analysis of the Tax Systems…

    • 1230 Words
    • 5 Pages
    Great Essays
  • Improved Essays

    He mentions “Don’t let big employers take away the fundamental right of people to stick together to speak up for themselves at work; public policy should support workers who choose to form a union” (Inequality for All Video). I believe that unions are severely damaging whole industries like GM, Chrysler, etc. Unions are costing us billions of tax dollars, and much more etc. Reich says that we should “ensure everyone has access to a great education spanning from early childhood to postsecondary” (Inequality for All video). I do agree that everyone should have the opportunity to have a great education, but if he is suggesting making it free; that would harm our economy a lot.…

    • 588 Words
    • 3 Pages
    Improved Essays
  • Improved Essays

    Some politicians such as Bernie Sanders have commented on this issue. Sander’s has spoken out about income inequality and how we need to redistribute wealth in America. He also has a page on his website to inform people about income inequality (Sanders). Income inequality is now becoming a largely debated issue within the United States. Not only politicians but also the working poor themselves are taking the issue into their own hands by expressing their views with protests like the “Occupy Movement”.…

    • 1125 Words
    • 5 Pages
    Improved Essays
  • Improved Essays

    Both Paul Krugman and Robert H. Frank have written very informative pieces about the problem of economic inequality in the United States. In Robert H. Frank’s essay, Income Inequality: Too Big to Ignore, he explains that the United States got to this point of income inequality through years of economic stagnation caused by policies that favor the rich, and discusses the harmful effects of this phenomena. In Paul Krugman’s writing, he too says that income inequality is a problem caused by economic and fiscal policies designed to help the rich and he outlines the ways the United States can fix the severe problem of income inequality.. They are both persuasive essays with similar writing styles. When analyzing the works of both writers, we can…

    • 1066 Words
    • 5 Pages
    Improved Essays
  • Improved Essays

    Foroohar references Joseph Stiglitz, the Columbia professor and former economic advisor to Bill Clinton when she shows how both “Republican and Democratic administrations have been at fault in crafting not only policies that forward inequality, but also a narrative that tells us that we can’t do anything about it” (Foroohar). This idea further supports the belief that the government must be challenged in order to create new laws and rules to structure our economy so that it is more balanced. Stiglitz emphasizes this idea when he explains how “it’s about the choices we make with the rules we create to structure our economy” (Foroohar). One of the reasons that the United States has not put forth effort in order to change the inevitable outcome of the lower classes, is the fact that they do not actually know how wealthy the upper class is. If the lower class was aware of the economic gap between classes there would be “riots in the streets” (Fitz).…

    • 722 Words
    • 3 Pages
    Improved Essays
  • Decent Essays

    I certainly think that the inequality of income and wealth is a social problem and it needs to be addressed. In the Wealth Inequality in America video we watched, it was stated that “the top 1% of America has 40% of all the nation’s wealth”. When the top 1% of the richest people in America have 40% of the total wealth of the nation, that is a problem. This is way beyond the point of the rich and wealth just living a luxurious lifestyle when they have 40% of the total wealth of the nation. I don’t like the idea of taking away money from people that worked hard to earn it, but at a certain point, I feel that the incomes they are making are way out of proportion and are not appropriate for the work they are doing.…

    • 285 Words
    • 2 Pages
    Decent Essays
  • Improved Essays

    After reading the “The Income Inequality Debate”, I started to think more about the financial situations that I am currently in and how I am preparing myself for the future. The videos were very informing on the topic and helped me actually visualize what was going on. The video “Wealth Inequality in America”, seemed like a more detailed version of “Is America Dreaming?: Understanding Social Mobility” so I got more from it while watching it. What stuck out most to me were the aspects of education and how it really influences those percentages.…

    • 419 Words
    • 2 Pages
    Improved Essays
  • Superior Essays

    Offshorable employment and the education system are both factors in the hole in the middle-class. Krugman's solution to this is bargaining, and there are more factors about a job than doing the work. Workers in America must give people a reason to hire them. A computer can do a ton of jobs, but they cannot be motivated and work hard towards specific goals. Nevertheless, there needs to be an incentive to hire a person over a computer or in a different country.…

    • 883 Words
    • 4 Pages
    Superior Essays
  • Improved Essays

    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…

    • 713 Words
    • 3 Pages
    Improved Essays
  • Improved Essays

    Wealth Inequality Essay

    • 567 Words
    • 3 Pages

    Although each person has the right to make as much money as possible, in the United States the government should however keep the income rise proportioned by taxing the wealthy more and the poor less. In recent years the opposite happened where the taxes on the wealthy were cut from a top rate of 68% in 1980s to 28.5% by 1988. The share of federal tax revenue paid by corporations has dropped from 33 cents of every dollar collected in 1953 to less than 10 cents today. (Donald Barlett and James Steele: America: Who Really Pays the Taxes? Andrews and McMeel:…

    • 567 Words
    • 3 Pages
    Improved Essays
  • Superior Essays

    Reich’s From Beyond Outrage describes the current status of the United States economy as a “troubling trend” that allowed for “a larger and larger share of the nation’s income and wealth was going to the very top [of the top 1 percent].” Reich then describes that under the Clinton administration, the President wanted to reverse this course the American economy was taking, but the administration could not accomplish this. After this, Reich explains that recent events that occurring in the United States, such as “Occupiers [in 2011]” and polling conducted by New York Times/CBS News, which shows “66 percent of Americans say that the nation 's wealth should be more evenly distributed.” Additionally, Reich explains that Wall Street executives and other corporate executives are getting more money while others suffer. The current economic system has Americans feel as though that with their current pay rates, they cannot get what they need to survive, thus, crippling the United States…

    • 1579 Words
    • 7 Pages
    Superior Essays
  • Superior Essays

    Most of the rich people believe the strategy of trickle down economic. When their corporations earn money, and they can create more job opportunities for the lower class people. However, the goal of trickle down has never existed. The wine stayed on the top cup. As Nicholas Fitz expressed in the article “Economic Inequality: It’s Far Worse Than You Think” People have no idea how worse is the gap between the rich people and the poor people.…

    • 1247 Words
    • 5 Pages
    Superior Essays
  • Improved Essays

    Gilded Age Inequality

    • 1011 Words
    • 5 Pages

    Robert Reich, former Secretary of Labor and presenter of the documentary Inequality for All, once said “The faith that anyone could move from rags to riches - with enough guts and gumption, hard work and nose to the grindstone - was once at the core of the American Dream. Unfortunately today we know that this is no longer the case in the United States. The gap between the rich and the poor continues to increase as the rich get richer and the poor can’t get out of poverty. Contrary to popular belief this is not due to lack of hard work but due to a lack of opportunity and this has become a huge problem for the United States. Although we can’t have every person in this country be wealthy due to the system of capitalism, it is possible to decrease…

    • 1011 Words
    • 5 Pages
    Improved Essays
  • Improved Essays

    Should The Rich Be Taxed

    • 1416 Words
    • 6 Pages

    The people who support raising taxes on the rich think that the government just needs more funding to be able to do all the projects the government wants to have accomplished. “Further, Mr. Obama wants to raise taxes on the "rich," believing that we need more revenue for his projects” (Kleist). They believe that the government needs more money to spend on important projects. Taxing the rich would bring in more revenue for the government to spend; however, it is how they spend it that matters. The key to being able to fund these projects is not raising taxes on the rich; instead, it is learning how to spend the money that the government does make from taxes efficiently.…

    • 1416 Words
    • 6 Pages
    Improved Essays