Where you discuss whether corporations are causing inequality in the US, and offer strategic solutions about how we can change the trend. In particular, comment on President Obama's comments in the state of the union address about raising the minimum wage. Do you think this is a good strategy for the US? Why, or why not?
corporations are not solely cause of inequality in US but other major factors leads to such differences and may include the following changes in labor's share of income; inequality at the bottom of the
income distribution, including labor mobility; skill-biased technical
change; inequality among high income groups; consumption inequality;
geographical inequality; and international differences in the income
distribution, particularly at the top. Most corporations consider much pay on the executive officers so as to gain much in the stock exchange market.
President Obama arguement of raising minimum wage will not solve the disperity but rather worsen it. cases of double taxation will rise since the government will have to earn more revenue.
The proposals at the federal level would be a
required minimum, but states could choose to have their own higher
minimums. Data on income inequality does not lie, but when
the goal is to make an oversimplified argument about the rich getting
richer and the poor not catching up, some significant method is missing.
May 29th, 2015
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