27
Nov
Unit 5- The Economic Gap in the US
Prompt: How should income be distributed in the United States? What should the balance of welfare programs and high taxes be to low taxes and unlimited earnings? Should CEO’s make that much more money than their lowest employees? Would a different system of distribution help stop the cycle of poor and impoverished or just enable the lazy?
In the past month, the news has been all over a popular, new movement. This movement is called the ‘Occupy Movement’ and it’s goal is to fight against economic and social inequalities. Thousands of people feel that the current wealth distribution in the United States is corrupt. I bring this up because in today’s blog I am answering questions about the United State’s economy and the way income is distributed. Although I do not fully understand how the Occupy movement is achieving their goal, since their goal is very unclear, I did learn something important from the movement. I learned that a mere 1% of Americans have all the wealth, while the other 99% are only getting more poor. This is similar to all the concepts we have learned in Unit 5. In the chapter, Income Gap is Widening, they stated the same fact that the “top 1% (more than 348,000) are receiving the largest share of national income since the Great Depression.” Immediately I realized this is not some far out issue, this issue is currently present all over the U.S and is being advocated through the Occupy movements. These chapters all have concern over the income gap. I agree and feel that a redistribution of income will help the income gap. I don’t want to create a communist country, I am advocating for redistribution in order for the poor to have their basic needs met. I believe that people should work for what they want, but the government should help those in need. Thomas Jefferson said that the main purpose of government is to help the needy because the rich will take care of themselves. To me, the needy includes the poor, elderly, orphans, mentally sick, physically sick, those who have suffered setbacks like natural disasters, and others in need. Income should be redistributed by taxing the wealthy and providing money, opportunities, and aid to all those in need, as needed. New job opportunities will give the needy jobs so they can take care of themselves, making redistribution no longer need. The money that the government uses to help those in need can be used from income tax. The income tax is a tax where all citizens pay the same percentage of their income. To me, this is fair because those who make more, pay more and those who make less, pay less. So aside from those in need, their would be equal opportunity. Another issue in today’s economy is that CEO’s make much more than their employees. In order to lessen the gap, this also needs to change. This issue I am more fuzzy on. However, I feel that many people who aren’t CEOs work harder than their bosses, but still do not gain economic rewards like their bosses. It is important that while lessening the economic/societal gap that anyone who works hard, ignoring their status, is rewarded. And that people who choose to be lazy do not get the same helping hand. It is crucial we call attention to this economic and social gap! Maybe through Occupy, which simply just gives people information. Or maybe by redistributing income. Since I am only a senior in high school, I do not know the best route to get to a better, more fair, economy. However, I am confident that things need to change.