Confronting Inequality by Paul Krugman. Essay - 791 Words

In his article Confronting Inequality Paul Krugman is asserting the fact of high socioeconomic inequality in the United States, while demonstrating its consequences and the variety of statistic evidences upon it. He is depicting modern American society where we have a huge gap between economic elite and lower-and middle-income classes. There is a time for a Great Moderation reforms that will bring a socioeconomic equality. I agree, that economical inequality brings the social inequality, where as a result, we would have a society of unequal opportunities. And this situation directly influence the future of the children, their chances to succeed in their lives and careers. We can clearly see that children with high status are†¦show more content†¦The trick is that the economic inequality comes with a particular political climate, where large sums that hedge funds contribute to political campaigns,corrupt our politics and influence their decisions. As we can see from the s tatistic the hedge fund tax loopholes costs the government more that $6 billion a year, what is enough to provide health care for three millions children. The arithmetic of the equalization demonstrates that tax-cut rollback can pay for implement of universal health care, but the necessary reforms must go through the government. Universal health care is one of the key aspects of being truly middle class society. The U.S. are compared with other countries and we can see the we have top U.S. tax rates are low compared with those in Europe. And consequently, we see that the inequality strains the bonds within the society itself, people less trust the government or each other. While social trust is crucial in having a stable political situation in the country: very high executive pay used to provoke public scrutiny, congressional hearings, and even presidential interventions. So it comes a turn of the inequality of market income. I agree, that the first step was already made by rising the minimum wage, but it`s no enough. We should pick up the slack of our union policy, what experience the drasticShow MoreRelatedThe American Dream : Dead, Alive, Or On Hold? Essay1940 Words   |  8 PagesIn the essays â€Å"The American Dream: Dead, Alive, or on Hold?† by Brandon King and â€Å"Confronting Inequality† by Paul Krugman, the authors discuss a wide variety of ideas that affect or main tain the idea of income inequality in America today. In the essay by Brandon King, he clearly states that the values of the American Dream are still alive today, but are getting harder and harder to achieve for the average person. King argues that the American Dream of today has drastically changed from what it usedRead MorePredatory Lending and Inequality Essay1281 Words   |  6 Pagesreasons. Paul Krugman, author of â€Å"Confronting Inequality,† blames the â€Å"inequality of our income distribution.† He explains how and why the differences between wages of the poor and wealthy are a major conflict in todays society. Constance M. Ruzich and A. J. Grant, authors of â€Å"Predatory Lending and the Devouring of the American Dream,† argue that the downfall of the American dream has occurred because of predatory lending acts. According to the authors, predatory lending and inequality play a veryRead MoreThe American Dream : Dead, Alive Or On Hold?872 Words   |   4 Pagesthat people have liberties and are free to pursue happiness. However, in recent years, in the worst recession since the Great Depression. Unemployment, growing economy inequality, and medical care have skyrocketed. Despite the odds, the American Dream is still a goal that many people strive for and hope to reach. In fact, an essay written by Brandon King, The American Dream: Dead, Alive or on Hold? He says, â€Å"the American dream is a dream in which life should be better and richer and fuller for everyoneRead MoreThe American Dream and Domestic Violence1512 Words   |  7 Pagescenter of their life. However, not everyone can achieve their American Dream. Paul Krugman, who wrote â€Å"Confronting Inequality† in essay on the American Dream, stated that, â€Å"It is harder and harder for people to achieve the American Dream. Krugman also says that, â€Å"The lack of clear economic progress for lower and middle-income families in itself is an important reason to seek more equal distribution of income† (Krugman, 2007, p.586). The American Dream could be a reality. On the other hand, the American