The Importance Of Economic Inequality In The United States

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Anyone can promise change but it's a different thing entirely to create a plan and act upon it. Today too many politicians who are full of empty promises of change. In our current economic state the United States of America needs a well crafted plan based off successful plans in other countries to make a change for the good of those in need. Economic inequality is on the rise; therefore, capitalism will have to make room for more democracy to help the lower and middle class survive. The lower class is financially struggling to survive in society and an economic change is pivotal to the recovery of economic inequality in the U.S. Likewise, Reich said, “No economy can continue to function when the vast middle class and everybody else don't have enough purchasing power to buy what the economy is capable of producing without going deeper and deeper into debt”. The economic instability and growing debt is solvable problem; by reducing the GDP to 100%. According to Trading Economics in May 2016, it currently is more than 104%. We can reduce it by increasing taxes for everyone, while increasing minimum wage, food stamp availability, etc. to help the lower class. Reich said in Inequality For All, “The only way to grow the economy in a way that benefits the bottom 90 percent is to change the structure of the economy. At …show more content…

I find capitalism to be very beneficial; however, for the rich to remain successful they need a healthy economy. And, to keep the economy a “virtuous cycle” we need a large number of consumers (A.K.A. a large middle class). However, the economy needs to find the balance between democracy and capitalism, because financial inequality is the incentive for getting a higher level of education. We need to make a financial plan that puts the wellbeing of people over less important things like infrastructure, the military, scientific advancements,

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