The share controlled by the top 1 percent in Argentina has dropped a bit to about 15 percent. Meanwhile inequality in the United States of America has increased to the level comparable to those in Argentina six decades ago with 1 percent controlling 24 percent of America income in 2007 bringing a major economic crisis and much criticize from the citizens. These people controlling major resources are taking advantage of those in low class in which there income has drastically increased, they have good and lucrative productions, they have the best jobs and they live a life that is more comfortable and enjoyable than the majority of the citizens of the United States of America. These changes has led to exploitation, unemployment and increased crime within the states which has also led to poverty and increased the gap between the rich and the poor a large tax are imposed and taken all without being useful to the people who are taxed. Politicians who are in power are selfish in that they amend laws as one way to examine there decision to put aside all ethical considerations and simply look at where tax dollars will do more to stimulate there economy and life style. There conclusion is clear and should be adhered to and failure to which you will spend your lifetime regretting. In creating jobs defusing poverty and reducing street families but instead they increase it. According to the extract from the New York Times contrast, tax goes ton the powerful and wealthy personnel and not used to boost the economy of the country like the beneficiaries of America are the politicians and other which have led to strongly condemnation from non governmental organizations such as humanitarians’ scholars. Like Emmanuel Saez, an economist at the University of California who is one of the leading experts on inequality, has noticed that there is unequal distribution of resources in United States than how it was times back more than the other developed countries. The 10% of people in the United States of America have greater influence of about 70% of America recourses and therefore controls the majority. A Hedge Fund Republic emphasizes more on the politicians in the United States who have got an economic mobility; this is not there in Europe’s class system. This mobility explain the reason for which many Americans who work do not recommend inheritance taxes and high marginal tax rates but scholars have found out the reason to which they are against that’s they use it to enrich themselves. This system is used to cut the tax to there wealth instead of creating employment. The house of Congress is using an excuse that it is financially reckless to extend unemployment benefits during a terrible recession, instead they insist on granting large sums of money as tax to the richest Americans. This behavior leaves poor American in abject poverty and unemployed while the social class are enjoying. The United States of America as a superpower should team up with the Labor Department to ensure that the idea of unemployment is not a reason for the Americans to suffer. This will be done by using the taxes made to create employment and cut the rate of grants this will reduce the poverty level increase production and reduce criminal
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The post-industrial economy changes in the United States of America have led to the two different classes of people who are separated because of unequal distribution of resources. There are people of low class and the people of upper class. The people of low class include the citizens who are non-employed and the common people who are misused and exploited while the upper class includes politicians and business men and women who control the largest share of the wealth in the United States of America…
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