Letter on current issue to the editor of the Wall Journal - Essay Example

To the Editor, The Wall Street Journal RE: Income Inequality in the United s Economic growth and development is to the influence of diverse and dynamic factors. For a leading economy like the United States, sustaining the desired economic conditions is undoubtedly a critical challenge. Many different players and forces influence this economy in one way or another. In the recent past, the gap between the rich and the poor has been on the spot. In fact, this matter has been politicized to the extent that it almost crippled the economy several weeks ago.

James Piereson (February 17, 2014) expresses the continued concern for income inequality. Piereson acknowledges the income disparity that exists between the top one percent and the ninety nine percent of American population. Addressing this inequality, however, is the contentious issue. Both economists and politics are yet to agree on the most appropriate course of action. As the debate continues, I disagree with Piereson on the argument that the top one percent population is not the cause of the income inequality problem.

The issue is that the rich are getting richer and the poor are further plunging into poverty. In this respect, it is fundamental to address the problem before things get worse than they already are.It is important to note that the proposed taxation approach is just one of the many avenues that the government can use to bridge the gap between the rich the poor. Amid critical disagreements on the way forward, it is evident that income inequality is already a crisis that could get out of control in the next few years.

The one percent, the ninety nine percent, and all other stakeholders should collaborate to reach an ultimate compromise.Works CitedPiereson, James. The Truth About the ‘One Percent’. The Wall Street Journal, Feb. 17, 2014. Web. 18 Feb. 2014. http://online.wsj.com/news/articles/SB10001424052702303519404579352551767664072 ?mod=trending_now_3