Inequality And The American Dream Krugman Analysis

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The American Dream In the article Inequality and the American Dream published in the Economist, the author Paul Krugman proposes to solve the disparity in our economic system by increasing taxes on the wealthy. The real reason for this disparity is because of our economic system. Our government is based on capitalism that allows economic freedom in doing business without government control. The American dream shells from this system that promises personal gain and prosperity to those who work hard. This is encouraged further by our selfish human nature to have great things for ourselves. Hence, people are able to use their creativity, intelligence and pure hard work to better themselves. This means that when one gains profit, he/she is…show more content…
How about making great increases on taxes for the rich? Wouldn’t that reduce the income from their industries and businesses as well as making it hard for them to maintain all their employees? It’s interesting how the big earners are portrayed as being extravagant, spending on luxurious goods while the middle class who have foreclosures and bankruptcy are only portrayed as caring about their children to go to good schools. Oh! How…show more content…
Isn’t that just being mean to them? Why should they bear the entire burden, they are the only ones talked of in this debate of economic inequality as spoiling the equality curve. Is this a way to bring them down, to level the curve? Let’s consider this; these top 20% wealthy rich are the minority in our society. Whether it’s open voting or polling concerning such issues, the odds are against them. Hence, they are taxed heavily to serve the majority who are middle and low income. It’s no wonder they use their power to influence congress. They would rather spend some of their money influencing legislatures, than have to pay more in taxes in the long run. Don’t get me wrong, I am for the taxes for the wealthy, but I’m not for exorbitant taxes. Exorbitant taxes are what caused this wealthy rich to take an interest in influencing congress in the first place. Why would they put it back to where it was before and even add more taxes as Krugman proposes? People need to consider a fair amount to tax them so that they do not have to take such drastic measures to get tax cuts or even exempt themselves all together as Krugman notes that other do business overseas to avoid taxes

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