A Solution to the Wealth Inequality

The rich are getting richer and the poor are getting poorer. And by poor I mean everyone who isn’t part of the 1 percent. Wealth allocation in America has become so inflated and one-sided that the elite 1 percent own 50 percent of America’s riches. Americans have had to endure this corrupt economic model for years.

Enough is enough.

Here are a couple of ways to remedy the mass inequality and even the playing field for all.

The wealth gap between middle class workers and grossly overpaid executives is outrageous and yet these average employees are still paying higher taxes. The government’s duty is to serve the people, therefor they should alleviate inequality and poverty by instilling a fair tax system that cuts down on the top earners and helps build up the bottom. In order to cut down on inequality, wealth redistribution is essential. With that said, a progressive tax should be imposed on all in order to better reshape this country into a fairer nation. Under progressive taxes, those who earn more are taxed higher and those with less income pay less in taxes. The economic resources gained from the tax cuts on the rich could be put to use by using it on improving public education, medical research and other societal functions. During World War II, President Roosevelt put forth a 94 % tax rate for top earners. Since then, the U.S. has experienced decreased progressiveness in its tax policies over the years and as a result income inequality greatly increased by allowing the elite access to capital.

While the methods and ideas brought up may not be the solutions that will ultimately fix everything, something must change! All we want is just a fairer world to live in.

-Quenton

 

 

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