No Easy Answer for Rising Income Inequality - US News - 3 views
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hcps-brunsle on 01 Feb 15"other economists warn that a minimum wage hike to $10.10 - the level Obama and Congressional Democrats are calling for - would be bad for business. The CBO estimates that the $10.10 option would reduce total employment by 500,000 workers once fully implemented in the second half of 2016." This excerpt does a good job of highlighting just how debilitating income inequality can be. With an addition of as little as $3.00 to minimum wage payments, total employment would reduce by 500,000 workers. I agree with the article that income inequality is a major struggle faced in America. President Obama said, "[income inequality] jeopardized middle class America's basic bargain- that if you work hard you get ahead." This defines the effect income inequality has on America. The rich get richer and the poor fall deeper into poverty. For that reason and to answer the discussion question, if I were running for president I would make it clear that this income problem would be solved because it is "the root of all social evil." Similar to the Romans, income inequality is what prompts social division in America. This article directly relates my answer to the discussion question because it gives detailed analysis of the negative role income inequality plays on our lives today.
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hcps-wilkscg on 02 Feb 15Money is now being called thew root of all evil. It is no lie that income inequality is a problem. It limits social mobility and threatens a lot of things that are important to Americans.