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Income Inequality Essay

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In today's economy, many face difficulties and financial hardships. Amongst those financial hardships are paying taxes. Many cannot simply afford to pay taxes, whilst the wealthy of this country pay the same price in taxes and act as bystanders in a crippling economy. Over time, situations have only worsened for the poor, causing the rich to get richer and the poor get poorer. One proposed method of creating a strong economic foundation is to increase taxes for the rich and decrease taxes for the poor, who can barely afford the standard cost of living. This proposed method offers a substantially safe method of taxes, but also faces heavy opposition from the wealthy and large corporations. The increasingly large gap in income inequality and …show more content…

“Republicans promote the “ownership society,” in which privatizing social insurance, removing investor protections and expanding home ownership align the interests of workers with the anti-regulatory interests of the wealthy.” (The Nation). If we brought wealth under “democratic accountability”, we would have the key to equality. Democrats cater to helping the less fortunate on building up wealth and focus on the peoples’ education.“The United States must accept that a global wealth redistribution is occurring. Those in the top fifth of the U.S. income bracket must realize that those in the bottom two-fifths cannot bear the brunt forever.” (The Balance) The wealthy continue to follow their inconsiderate tendencies, with only a few of the top one percent focusing on the welfare of others. This greed directly fuels the economic justice present in today's society and is the root of the poor economic structure. Furthermore, those who do focus on fixing the economy make little progress due to the heavy opposition presented by the wealthy. By focusing all resources on fixing the U.S. tax system, poverty rates can decrease and the wealthy can share the burden that the poor have had to carry for many

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