Is the gap between the wealthiest Americans and the greater majority of the middle class Americans a problem? Some believe it is and others support the opposition. Statistics prove that the income of the wealthiest 20 percent of Americans has increased nearly 10 percent while the income for the bottom 20 percent has decreased by nearly 2 percent. Today, this gap continues to grow due to the raised costs for health care, energy, food, childcare and education to name a few. Many believe that it is fair that harder working citizens recieve more income for their hard work and effort but they also have strong arguments against it. These supporters believe that the government should impose restrictions on trade and outsourcing to help maintain local job opportunities and salaries. They also think that government should raise taxes on the wealthiest Americans and reduce those of the middle to lower class citizens. Most who support this view are directly affected by globalization. They wish for wage insurance, job retaining programs and unemployment benefits to reduce poverty. However, there are many who support leaving things the way they are. These citizens argue that job protection and barriers will decrease profits and will reduce the benefits of workers. Raising taxes will not do any good, it will hurt workers and harm the economy even if placed on the wealthiest of people. Entitlement programs and social safety already take up a majority of the federal money, therefore, the U.S. cannot afford to support more people effected by poverty. There are already organizations that help the poor greatly such as the Earned Income Tax Credit (EITC) and Temporary Assistance for Needy Families (TANF). These people believe supply and demand will take care of itself and the income of Americans.
In a way I somewhat agree with both points of view. They both share great ideas and support, but I personally must agree most with the second group. I agree the government should impose restrictions on some things such as trade and outsourcing. It doesn't seem fair that outsiders get to do work that Americans are perfectly capable of. However, when it comes down to it it is the economy and money that make the greatest difference. Sure, Americans could perhaps perform specific jobs better or easier but it has proven to be much cheaper to send that work over to another conuntry such as China or India to be done. I believe the second argument made a great point stating that job protection and restrictions will take away from workers benefits and business incomes. Those living in poverty keep asking for more and more federal money, but how much is too much? They already have Medicare, Medicaid and numerous organizations helping with everyday needs. A point was made that the poor take up nearly half of the federal budget and I don't think that's fair. Sure, they are in need and its great the they are recieving such help, but how much money does the wealthy recieve? I believe that answer is close to none. With that statement, how does it even seem fair that the poor recieve so much while the wealthy recieve none? I do understand, however, what dire need those living in poverty are in so I strongly support such organizations that help it. I only disagree that more and more restrictions be put on the wealthy when they barely recieve federal money as it is.
An article from The Nation shows its view and facts on the issue of Extreme Inequality.
ISSUE #2- Boosting the Minimum- Alexa Goetsch
ISSUE #3- Putting Welfare to Work- Jon
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