Well I agree that Americans should
keep economic inequality into consideration when looking into new taxes or even
propositions such as Obamacare, though I do not see economic inequality as an
issue that Americans need to solve. In the video, Wilkinson has prepared
unbiased graphs based on information collected from the UNICEF, U.N. and WHO.
The information that Wilkinson presents displays, in a clear manner, that
economic inequality is an issue. He compares and contracts the poorest to the
richest of countries with established market democracies. Within the comparisons,
he further introduces socioeconomic issues found in each country and shows the
audience that the countries with economic similarities are less likely to have
these socioeconomic issues than richer countries with larger economic differences
in regards to wealth. Wilkinson also touches on social mobility and the
psychosocial effects of economic inequalities.
I have
to disagree with that economic inequality is an issue that Americans need to
solve for several reasons: our economy is a capitalist democracy that enforces
a form of self-regulation by competition, self-induced psychosocial issues that
lead to further socioeconomic problems and social mobility is not at all an
issue in America.
In
regards to our country’s economy being a capitalist democracy, everyone is
already given the ability to compete in a market system with resources
available to all. Though the issue is that some people do not wish to put in
the effort to compete in said market. If someone so chooses to open a small business,
they can refer to banks for business loans. This would mean that the entrepreneur
would have to prepare a business model, estimated expenses and profits, how
local/state/national economy could affect the new business, etc. In the matter of taxes, all companies and
businesses have the potential to access, or exploit, the same tax breaks as the
larger corporations though I realize that most tax breaks are available due to
the large volumes of money grossed by those larger corporations. The purpose of
our capitalist democracy is to self-regulate the economy through competition.
Secondly,
people create their own illusions of socioeconomic issues through everyday
psychosocial issues. If the opinions of others based on income or lack thereof
is important to Americans, why go to college? Why not simply start working and
saving up money from a young age to someday purchase that nice BMW or Cadillac?
If enough time, time management and effort is applied, I could be a successful entrepreneur
and live happily that everyone praises my wealth. This would not be an issue if
people just lived their lives with moderation in respect to material wealth. A
moderately simple lifestyle would place everyone within the same social boundaries.
Mental Illnesses also have little effect in the socioeconomic aspect in my opinion.
In the video, even Wilkinson states, “Kids do worse in the more unequal
countries. Highly Significant relationship. But once again, if you look at that
measure of child well-being, in relation to national income per person, there’s
no relationship, no suggestion of a relationship.”
Finally, with reference to social mobility
having a correlation to economic inequality, America has always been praised as
the country where people have the potential of achieving the rags-to-riches
dream. I grew up in a family of seven with my father also supporting his
younger brother and his family of five with one source of income--my father.
Even without using the cousins that lived with me for the better part of my
childhood as a reference, kids I knew going up had name brand clothing while I
was jumping for joy if my family decided to go shopping at a JC Penny or Sears.
Food was regarded in a similar fashion; I appreciated the times my family and I
went to a Denny’s or IHOP. I even assumed that people who own motorcycles were
rich. It wasn't until I decided to make something of myself and move up in the
world that I joined the Marine Corps and learned that anyone can “adapt and
overcome” any obstacle before them. So, again, in regards to social mobility, I
see no issue being with the fact that I have moved up socially and economically
in America.
While I do agree with Wilkinson
that there are disparities between countries of different economic standings, I
disagree that America has a major issue, in this regards, to solve. Yes, we can
do a little better though only minor adjustments are needed.
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