Todays Social And Economic Inequality Is A Matter People

Todays social and economic inequality is a matter people are faced with in their daily lives. Many Americans are currently unable to reach their full potential due to the lack of financial stability in the work force, and are incapable of providing stable income for their dependents. Krugman, like many Americans, believes that change is the only way to help close the ever-growing gap between upper class Americans and those who are middle class or below poverty level. In Krugman’s essay â€Å"Confronting Inequality† he addresses the need for change, and has several concepts for how to bring about equality. I agree with several of Krugman’s key ideas in his essay such as; higher taxes on the rich, raising the minimum wage, and unions.†¦show more content†¦On the contrary, most now wealthy Americans are living off of money that was given to them from their parents and grandparents. The argument that the upper class citizens are not paying enough in taxes , although a matter of opinion, should be reconsidered when looking at how much the rich avoid paying in taxes when using loopholes. Although it may seem as if they pay a lot in taxes, they are avoiding a large portion of what they would have to pay normally with the use of the loopholes. Another key idea of Krugman’s to solving inequality is to raise the minimum wage. I agree with Krugman that the minimum wage should be increased, but it should not go up to the extent that it would cause extreme job losses. If the minimum wage was raised two or three dollars without the loss of jobs, many middle class Americans could possibly live a more comfortable lifestyle. The minimum wage should be the minimum amount of money needed to live off of. So many middle class Americans, and Americans below poverty level struggle to live off of a minimum wage salary now. Krugman mentions in his essay,† the minimum wage, however, matters mainly to low-paid workers† (575). Raising min imum wage even a little would aid some people in paying for their necessities. Some people are forced to stay in minimum wage jobs for either their entire lives or the majority of their lives because they cannot move up in that field or do not have a degree. A large number of Americans workingShow MoreRelatedPoverty And The American Dream933 Words   |  4 Pageskids born in poverty will not get out. Today, more Americans are falling below the poverty line and are struggling trying to find a way to get out. The Inequality gap in America has increased for the past few decades. Resulting from Economic Inequality in America, 400 Americans share more than 50% of America’s total wealth. These 400 Americans are the Top 1%. While the Top 1% are living luxurious lives, the Bottom 99% is struggling to make ends meet. 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