The Injustice in the Growing Wage Gap

Throughout our nation’s history, we have all seen the pattern of the 1% getting wealthier while more and more people fall under the line of poverty. This today remains the same. Only the poor are expanding in numbers and the middle class is losing all stability with disemployment numbers rising, foreclosures and bankruptcy’s, and even the depletion of savings. Although there are many factors that go into the growing wage gap, these are some of the most important.

According to Dave LefCourt, an author in America’s Economic Report – Daily, the wage gap has been growing more and making everyone’s economic stance more unequal than before. His article, The Rich Get Richer, the Poor Get Poorer, while the Middle Class Gets Decimated, states that the rich have remained whole and haven’t suffered because the Stock Market has recovered and all the Wall Street tycoons are profiting off of it now more than ever. Being the investor class, they have taken over with investments in large corporations such as Walmart that completely decimate local businesses and tear apart economically stable towns. Big corporations are at the top of the economic pyramid because of technological advances and also the fact that their labor operations were moved to 3rd world countries. Taxes is probably the most widely known controversy when it comes to the growing wage gap. The rich or the 1% as they are known have the advantage of paying a lower percentage in taxes than the middle or lower class. This is inequality and injustice in all counts. Why should people who make less, pay a greater percentage in taxes than those whom are better off financially? This is the question.

Lower classes are suffering because their jobs are being taken over by technological advances, corporations that destroy any hope of local commerce, and their capabilities of getting well-payed jobs are cut off. Big corporations, which are controlled by the 1%, control most of the economy. The average American works for minimum wage which is not substantial enough for a decent life. This means that the great majority of people live a check to check life style while only a few live stably and comfortably.

There are many factors that contribute to the growing wage gap and its injustice. The U.S and all its citizens will continue to face this iniquity if nothing is done about it. It will become a severe crisis in which poverty will get worse than what it is already, and the rich will continue to take advantage of this abuse. Equality of some sort has to be restored so that a fewer percentage of Americans live uncomfortable, difficult, and burdensome lives.

Many wall street brokers do indeed pay lower tax rates, however this is not a bad thing. Investing is what keeps our economy running properly, and offering incentives so that people will continue to invest spurs economic growth. Without the investments of the wealthy, the poor and middle class would have no way to create a startup and get their small business off the ground.

esmedina wrote: Many wall street brokers do indeed pay lower tax rates, however this is not a bad thing.  Investing is what keeps our economy running properly, and offering incentives so that people will continue to invest spurs economic growth.  Without the investments  of the wealthy, the poor and middle class would have no way to create a startup and get their small business off the ground.

The truth of the matter right now is wallstreet pays NO tax whatsoever on it's transactions or buisness dealings. The issue with this is people can trade and make fortunes/ruin them at no cost to themselves, when the middle class can get the bill sent to them. There have been multiple propositions over the years and concepts (Example Bernie Sander's proposition for a 1% tax on all wallstreet transactions), but none have gone through. The amount of business running through wallstreet enables investors and brokers to use the money invested in a manner they see fit. The moral of the story is that wallstreet doesnt have any morals, adn will regulate itself with little to no interfearance from our federal government.