Pros And Cons Of Income Inequality

topic in the inequality debate is the income inequality amongst people within a nation. Opposers of globalization argue that the factories closing in in high-wage, developed nations and being outsourced to lower-wage, developing nations is a result of freer trade and inevitably widening the wage gap between the lower and middle class. When developing nations insert themselves into part of the global economy, it raises the incomes of the poorest citizens. The second topic in the inequality debate is

In an article about inequality Gavin Keeton (2014) said, “Following the works of Simon Kuznets on economic growth and income inequality many economists argued that inequality was an inevitable part of economic development. Simon Kuznets argued that in developing countries economic growth initially leads to increasing levels of inequality, rich people save more than the poor, so inequality aids the process of capital accumulation in poor countries.” In South Africa well over half workers are currently

control and hello income inequality. Gun control does not work and will not work in the future due to many reasons. Income inequality does exist and in many ways. I have researched both topics and found information to back up what I believe and will say about gun control and the income inequality problems. Many of the sources I have used for my research are government or organization websites. They have well researched information. I will define gun control and income inequality because many people

minimum wage is the lowest possible wage that employers can legally pay their workers. Today, it seems like everyone has their own opinion on the minimum wage. Should it be abolished, raised, or should it remain the same? I will talk about the pros and the cons of raising the minimum wage as well as my own opinion if it should be raised or if it should stay the same. The “federal minimum wage has remained the same at $7.25 an hour since 2009” (“DeSilver, Drew”). To many people, it seems like eight

Income Redistribution Income redistribution refers to the concept of transferring income from the wealthy individuals to the less wealthy individuals through social mechanisms such as monetary policies, charity, welfare, land reforms, and taxation among others. Income redistribution affects the entire economy rather than selected groups of individuals. The concept of income redistribution emanates from the existence of income inequalities within an economy. Income inequality depicts a gap between

the implication of implementation of minimum wage further by looking at its pros and cons in relation to general population, government and business. Pros of implementation of minimum wage in relation to general population: ~Would increase economic activity and spur job growth ~Reduce poverty ~Helps reduce income inequality ~Would help increase worker productivity and reduce employee turnover ~Would help reduce crime Pros of implementation of minimum wage in relation to government: ~A higher minimum

Annual Income is defined as a compensation program provided by the government to any family or individual whose annual income falls below a specified level. Over several years there have been arguments over the pros and cons of the Guaranteed Annual Income (GAI), and there have been no final determinates that conclude whether GAI would be a benefit or waste to our country. After researching and reading different articles and reports about the GAI debate in Canada, I have come to find more pros than

philosophies to spread around the world, or the process of making this happened. Globalization depends on three keys of advancement, the role of human migration, international trade and rapid movements of capital. Globalization has many pros but yet also many cons that can have a deciding factor in an economy. Many people think globalization still favors the rich and it’s a detriment to countries who emerging in the world and does not have a stable or great economy. According to Bloomberg Business

more people in the country than capitalism would. Most of countries in the world are capitalism, because they think socialism is bad and drag their economy down. However, both capitalism and socialism can be bad, they both have pros and cons. Coming up with inventions is a pro that come with capitalism. Because businesses compete with other businesses, it is extremely helpful for them to develop new products and services that are superior to the products of their

Pros and Cons of National Sales Tax The governments in any country use various taxation systems to raise funds to fund its national projects. The most common tax system is the income tax whereby the government raises funds from individual’s earnings. However, in the past few years, there has been heated debate about the adverse effects of progressive income tax on productivity and a proposal to replace it with national sales tax (Hodge, 2017). The national sales tax also known as the fair tax is