Confronting Inequality by Paul Krugman free essay sample

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 more likely to finish the college. The statistic that we are presented in the article states income inequality results in that class-inherited class usually trumps talent: smart kids from lower-class families lose when in a competition with kids from rich families. We will write a custom essay sample on Confronting Inequality by Paul Krugman or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page And to be honest, I don`t need its statistic results to witness this inequality myself.Even though my evidence comes from years in Russian school, i think my experience is relevant, the social inequality is same everywhere. I was attending the college there and we had RDK (rich dumb kids) too who have a much less stressful entrance into the college, due to their parent income. And school years were eased up for them also, because the money they got could buy them good final exams result. While other kids, who were talented but much less rich had to study hard to get the same results.That is not the beginning of good friendship between the kids, that will later become high and middle classes members and will carry this inequality even further. We can see how middle class families are desperate to give the children good education and while the desirable school districts shrink in numbers and become more expensive, these families are doomed to get in debt spending on housing much more than they can realistically afford. Than we can turn to health care system that can benefit from the reformation of taxing of top earners, who constitute 0,1 percent ofAmericans, while receiving more than 7 percent of income.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 statistic 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 drastic decline. I do a small knowledge of it, while being a student, but I can see how my parents are being directly influenced by their unions. The unions have an ability to raise the wages of the members and equalize them too. They also mobilize its members to be more aware of the progressive policies and vote for them, vote for their own rights. And if people start being more active in defending themselves the government will have to find a compromise.There is no such a things that a economic matter that stands by itself, isolated from other social aspects. The economic well-being is not just affecting but conditioning our lives from their very beginning (child care). There was always a promise that you can raise a family and have a comfortable live if you work hard. The majority still believes in people get rewarded for their effort. And we need to build our economy around this statement, instead of some big interests of a few. It will be the foundation of a true middle-class based society.