Income

Corporal will be depending on your role within the company. With this being said, Abraham lincoln signed a bill in which the percent taxed would keep increasing depending on the amount of income made. In 1872 the bill was repealed and declared unconstitutional. Now that you know a little bit of how our nation's first income tax came out to be let's get into detail of how that sets the base of how we do taxes now in present time. First off, many of y’all have at least asked yourself this…

Basic Income Guarantee Technology has evolved tremendously over the past 20 years and is expected to keep growing at an unimaginable pace. The growth in technology in 10-20 years will cause changes to how society usually operated (Thibodeau). Economist are calling it the second machine age in America (Pearlstein). We are about to begin the automation of jobs that has held this economy together. Machines are expected to take more than a third of all jobs by 2030 (Thibodeau). The unemployment…

Income Gap Inequality: A Dividing Problem - Literature Review Introduction Income inequality is a pressing issue for many economists, researchers, and politicians. The gap between the top 1% and the other 99% of Americans has increased for the past three decades (DeSilver; Cobb; Milanovic; Hatch, Ribgy; Jacobs, Dirlam; Cooper, Palumbo, Lutz). Income inequality is defined as the uneven distribution of income in the population, and the gap between the wealthy and everyone else (Priester,…

Out of the Washington Post, Charles Murray writes A Guaranteed Income for Every American to emphasize that the universal basic income is a great idea for today’s society. Murray claims that if this bill was to be passed then there would be no poverty, such as everyone above the age of 21, upon some certain circumstances would receive a check in the mail every month for just being a citizen. This could solve the issues of people having their jobs lost forcefully, and not being able to provide…

Underlying Causes of Income Inequality According to a report from the charity Oxfam, sixty-two people worldwide hold as much wealth as half of the global population (Stone). The cause of the wealth discrepancy is widely speculated upon and just as widely disputed. Many claim the social gap as the primary cause of this overwhelming income inequality. This response is an oversimplification of the true cause of current disparities. More specifically, the social gap created by preemptive influence…

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…

The topic of tax policy includes many widespread views and ideas. A relevant question is whether high-income earners should be required to pay a larger percentage of their income in federal taxes than low-income earners. The position I take is that everyone should pay a flat tax rate and can, if desired, choose to pay a larger percentage in federal income tax. Taxes are set so that the government can invest the money into services that everyone has the same access to. As a strong believer in…

What causes income inequality has always been a very challenging question. In fact, education has been argued to be one of the leading factor influencing income inequality. Though, most researchers agree on the importance of education as a reason, still some theoretical studies question it. Earlier work from Ram (1989) shows, education is closely related to income distribution in advanced developed countries. Becker and Chiswick (1996) (using panel sets in the United States) suggest a positive…

candidates, the nation is contemplating some of the biggest issues of present day society as a means of distinguishing between the two opposing arguments. Nevertheless, there is one issue that Secretary Hillary Clinton and Mr. Donald J. Trump agree on: income inequality is a titanic issue in the United States of America. Despite agreeing on the problem, Clinton and Trump provide several different solutions that are as opposite as white and black. In a state of indecision, we must look towards…

offer up a potential solution: the universal basic income (UBI). This welfare program in its simplest form would see all citizens of any given country receive an intermittent, unconditional payment from the government. One publication in support of the basic income is “Arguing for Basic Income” by Philippe Van Parijs. However, the UBI is not without controversy. Oren Cass of the National Review wrote an article titled “Why a Universal Basic Income Is a Terrible Idea” in which he expresses his…