Is there a solution for Economic Inequality?

V

VanessaChu

"The rich get richer and the poor get poorer" is a common saying that most of us hear all the time, and this unequal distribution of income and economic assets is usually a major problem in developing countries. However, this problem is currently seen in many developed countries like America and Australia.

When asked: how can we close this increasing gap between the rich and the poor? Many people would answer education, because education creates human expertise and knowledge creating many job opportunites for the individual seeking for a job.

In my opinion, the irony lies here.

Many developing countries do not offer free education due to government budet constraints and even if they do, children from poor families are forced to work in poor working conditions with very little pay to help feed their families, hence unable to receive this 'free' education and those children, their family and the childrens children would be forever stuck in a 'catch-22' or a vicious spiral where the poor CAN ONLY GET POORER. The rich, on the other hand, have many resources which they are able to pass on to the next generation giving their children a head start in their cycle of getting richer...

So is there a solution?

*Progressive taxing may help to eliminate the gap slightly, where we tax the rich more heavily and exempt the poor from paying tax

*Minimum wage requirements in every country so foreign firms cannot exploit cheap labour

*Large multinational companies should consider investment projects in developing countries to create jobs and provide training opportunites as a form of corporate social responsibility


Any other opinions, comments and thoughts are welcome!


Vanessa Chu
 
Quote from VanessaChu:

"The rich get richer and the poor get poorer" is a common saying that most of us hear all the time, and this unequal distribution of income and economic assets is usually a major problem in developing countries. However, this problem is currently seen in many developed countries like America and Australia.

When asked: how can we close this increasing gap between the rich and the poor? Many people would answer education, because education creates human expertise and knowledge creating many job opportunites for the individual seeking for a job.

In my opinion, the irony lies here.

Many developing countries do not offer free education due to government budet constraints and even if they do, children from poor families are forced to work in poor working conditions with very little pay to help feed their families, hence unable to receive this 'free' education and those children, their family and the childrens children would be forever stuck in a 'catch-22' or a vicious spiral where the poor CAN ONLY GET POORER. The rich, on the other hand, have many resources which they are able to pass on to the next generation giving their children a head start in their cycle of getting richer...

So is there a solution?

*Progressive taxing may help to eliminate the gap slightly, where we tax the rich more heavily and exempt the poor from paying tax

*Minimum wage requirements in every country so foreign firms cannot exploit cheap labour

*Large multinational companies should consider investment projects in developing countries to create jobs and provide training opportunites as a form of corporate social responsibility


Any other opinions, comments and thoughts are welcome!


Vanessa Chu
More...

Sounds like you're a Socialist.

The rich get richer because they have capital with which to make more money.

In America, everyone has the opportunity to get rich. That is, other than taxes, the Gummint does not stand in the way of people succeeding financially. So if you want to get rich, DO SOMETHING which is valuable enough to deserve getting rich.

Sitting on your butt and bitching "someone else is rich and I'm not...it's not fair* unless someone makes me rich too", doesn't cut it.

* the world never promised to be fair
 
it is the nature of societies to be "winner take all" regardless of structure.

It is how the winners treat the losers that shows how advanced a society is IMHO.
 
So a girl is at college and has become an avid socialist. Her father is a business owner and a free market capitalist. On her most recent visit home they have this conversation.

Father: So how are your grades?

Girl: Fantastic! I have worked really hard and gotten a 4.0. I am learning so much.

Father: That's great! And how is your roomate doing?

Girl: Well, she is partying a lot, skipping classes and not caring so much about school, she is getting probably a 2.0.

Father: Well you should go to the dean and tell the dean to give some of your GPA to your roomate. So you both are closer in GPA.

Girl: WHAT?!?

Father: Give her some of your gpa, you will still be ok at a 3.5 and she could use a 2.5

Girl: That is not fair. I worked very hard to get a 4.0. She doesnt even go to class, and you think I should just give her some of my grades. There is no way I am doing that.

Father: How does it feel to be a capitalist?
 
What socialist for some reason fail to realize, is that no matter what, there will always be winners and losers in life. Not everyone is given equal amounts of intelligence, motivation, work ethic, resources, upbringing, etc.

It is sad to some degree, but in a country like the US and others, at least everyone has the OPPORTUNITY to make as much money as they are able to or want to.

There is no way to legislate equality. If you try to do that, everyone loses.
 
Quote from VanessaChu:

"The rich get richer and the poor get poorer"
Any other opinions, comments and thoughts are welcome!
Vanessa Chu
More...

Passing a law making laziness illegal would be a good start.

I would do it myself, but I feel tired just thinking about it.
 
When post like that (brainless, worn-out cliche ridden) appears out of nowhere I always have a feeling somebody from DailyKos (or other like-minded sites) is just trying to spread the Gospel.
 
In the US we have free public education but it is very narrow in what it allows to be taught and it is not geared to letting the best students learn more than the average students. The alternative education for people with limited means is home school or private low cost religious school. The best universitites are said to be seeking students that are home schooled because they exhibit more imagination and children educated in the Christian schools are going on to fine college careers because they learn so much more and from better teachers for the most part. My daughter was in a Christian school in the latter elementary and junior high years and I loved helping with her homework, she was learning so far beyond what I was exposed to in the public school system in the language area that it was thrilling to me to learn it myself.

I have also observed that the communities that have a good working relationship with their police are not run by criminals and thus can have a chance to have a good school.

Every government should be geared towards making an environment that enables well motivated people to thrive. That requires that action be taken against not so well motivated people. Redistribution of wealth will only be marginally effective if you are pouring money into a bad environment.
 
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