Question
Myth of income inequality in US Although US is the largest economy in the world, some says it is one of the worst income inequalcountries
Myth of income inequality in US
Although US is the largest economy in the world, some says it is one of the worst income inequalcountries among the industrialized countries and Income inequality in US is not improving.
Q1) Does this claim have any truth in it? If so, discuss it with specific economic data. Do you think Trump tax cut actually contributed to more income inequality? Do you think Business shutdown due to COVID-19 is hurting the low income class more than high income class? Do you agree or not? Do you think Biden's 1.9 billion Covid Relief Fund will help to reduce income inequality? Q2) Some says " In US, the upper class is doing better, the middle class is disappearing and more people are living under poverty."
If so, what is the social, economic and psychological consequence from growing income inequality? Q3) Some saysUS government should do something to reduce the gap between the poor and the rich? Do you agree or not?
Q4)If so, is it a good idea to raise more tax from the wealthy and provide more welfare safety nets to the poor, or increase of minimum wage , or free higher education with Government subsidy, or universal basic income?
Q5) Is there any better idea of government policy over this matter? since middle class struggles with heavier consumer debt due to rising rent cost, medical cost, and education cost, and job insecurity due to automation.
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