The Economy: What is wrong with the economy? – A terrible loss of jobs, over 2 million jobs have been lost. However I would like to state it isn’t just one person’s fault. – The complete and utter desolation of the tech industry… we all know about the dot com bust and how many problems that caused. – Also September 11 th didn’t help too much.
The terrorist’s defiantly achieved their objectives in really messing up our way of life. While the wealthy are becoming richer and the number of millionaires and billionaires is skyrocketing, there is another reality. Since 1973, 80% of all families have seen their incomes decline or remain stagnant. The average American today is working longer hours for less income-and has every reason to worry that the future will be even worse for his or her children. Television news shows may not feature it.
Reader’s Digest may not discuss it, and the leaders of the Democratic and Republican parties may not make it a priority, but the decline in the standard of living of the average worker is, far and away, the most important and central issue facing this country. The rich are getting richer; the poor are getting poorer; and the middle class is shrinking. This is the great truth of contemporary U. S.
society. It may sound dramatic but I believe that the future of the nation depends upon reversing this destructive process. There are a number of reasons why inequality in wealth and income in America has grown over the last 20 years. President Jimmy Carter in 1977 and President Ronald Reagan in 1981 and 1986 instituted ‘tax reform’ with the support and approval of the Democratic Congress. The results were to lower taxes significantly on the wealthy and the large corporations, and raise them for almost everyone else.
The Term Paper on Income Inequality 4
... more skill intensive in both poorer and richer countries, thus it is increasing the income inequality in both groups of countries (Feenstra ... known as the gap between the rich and poor, wealth and poverty, the different of income between populations or individual (Ram, R. ... problem or price instability, the company (rich) is following the same contract of wage or income to pay the salary to their ...
Taxes on the very wealthy were cut 12. 3%; working- and middle-class Americans saw theirs grow. One of the ‘reforms’ was a large increase in the regressive Social Security tax. Q: What steps have been taken to improve the economy? There have been multiple interest rate cuts by Greenspan and tax cuts brought on by President Bush, which I believe didn’t really do much. Q: What are the solutions? – Raise the minimum wage. The minimum wage, which has lost 26% of its purchasing power over the last 20 years, must be increased.
People cannot survive on $5. 15 an hour. Every American who works 40 hours a week must earn enough to live above the poverty line. This country should not be known throughout the industrialized world as a low-wage nation. The minimum wage should be raised to reflect reasonable needs- Create new jobs by rebuilding America.
The U. S. has enormous physical and human infrastructure needs that have been ignored for many years. We should be rebuilding our country. Meaningful, well-paying jobs can be created by investing more in mass transit, bridges, water and sewage systems, schools, libraries, and housing stock, as well as protecting the environment. It’s not just the physical infrastructure that requires improvement, but human needs as well.
Many meaningful jobs can be created in education, childcare, and disease prevention. – Reform the tax system and make it fair. Between 1977 and 1989, Carter, Reagan, and Congress gave the highest-earning 10% of Americans a tax cut of $93, 000, 000, 000 a year. Corporate taxes were reduced significantly. At a time when the rich are getting richer and corporate profits are soaring, it is appropriate that the upper-income people pay their fair share of taxes. We need to cut the fat out of our national spending.
The Essay on Casinos People Money Jobs
Casinos Are casinos good for Ontario? To every situation there are positive and negative points. In the situation of casinos, the positive side has a very strong case that outweighs the negative side. One of the main reasons that the yare good is that numerous jobs are created by and for the government. Another positive aspect is that the government and local charities will get some of the revenue ...
It is insane! ! ! Q: What are the Pros and Cons of the solutions. – Raising the minimum wage I don’t see many cons about that one… – Create more and new jobs. I don’t see many other cons… if we have more jobs and they get more money at them I believe the economy would have a huge jumpstart. – Reform the Tax System.
Once again I believe that if people are paying less taxes they ” ll be doing one of two things. A: They will be spending more money. B: Paying of more of there debt. And if people have less debt they will spend more money and ladies and gentlemen when people spend more money and when people spend money THE ECONOMY GETS BETTER! ! ! ! ! !
