http://maddowblog.msnbc.com/_news/2013/09/12/20458133-welcome-to-the-new-gilded-age?lite Due 23 Sep 2013. What are the repercussions of having income inequality at these levels? What policy changes would you suggest??
Due to income inequality at those levels, the middle class starts to disappear. The rich continue to stay rich while the poor lose money. The problem with the policy is that the rich evade their taxes by not cashing in investments. If the policy was to require them to do that, then more money would be distributed to everyone else. Another policy change would be to raise the graduated income tax for the top 1%.
Having income inequalities at these levels, cause the "middle class" to vanish. Because the "Rich get richer" and the "Poor get poorer". The rich, is said that their taxes are reduced, but why it makes no sense, the people who have all the money barely have to pay for anything. The problem the policy has is that the rich just keeps all their money and do not invest their greedy. If the policy was equal to all classes, more money could be distributed to the rest of the classes, and that way maybe, there wouldn't be anymore classes. Everyone would be equal. The policy just has to raise the income tax to the 1% or the rich, that would be a really smart choice.
The repercussions are already happening all around us. The middle class is disappearing as the gap between the rich and the poor gets larger. Businesses that are intended for middle class people and are too expensive for the poorer class will also go out of business, as they wouldn't have people buying from them anymore. The theory was to give more money to the upper 1% and in return they would spend a lot more money and stimulate the economy but obviously that doesn't happen. They need to cut the tax on the poor and increase for the rich because the 1% won’t stop buying just because they get taxed a bit more.
This “New Guilded Age” represents new repercussions of income inequality which basically states that the upper 1% will have control on the total before-tax income of households. The majority of the economy, the 99%, will be affected the most. In the report it was stated that this has not happened in more than 100 years. If the economy was not that great for the past couple of years imagine the negative toll it will take on majority of the country after this projection? The obvious policy changes I would suggest ought to be heavily taxes that would be held accountable for the upper 1%. It will even the ball game in my opinion.
The gap between the rich and the poor will continue to widened until the middle class vanishes. Soon you will either be rich or be poor. The rich, of course control every action because they can afford to do so , while the poor have practically no say in the decisions that are made, but are affected anyway.We have the top 1 % who are doing everything they can to stay, if not become richer instead of extending their helping hand to the 99%. I suggest that the top 1% should invest more in businesses that will hire the rest of the population to allow them to at least rise to a middle class. That way, employment rates would dramatically decrease and the gap between the rich and the poor could shorten.The rich should be able to get richer while the poor gets better. Everyone would never equal but if more money get distributed to the 99% then we will all do well and be comfortable with the class we fit in.
There are a lot of repercussions of having income inequality at these levels. One of them is that the inequality affects the middle class alot. In my opinion, stable or income equality is something we will never have. No matter how many efforts we make, we can't really expect much to change. My suggestions would be to raise taxes for the rich people. Also, we could create more jobs to get the poor employed and actually pay them for their hard work. Indeed, the issue is POWER. Money makes the rich powerful and the poor defendless. The 1% will keep on rising while the 99% is sinking. It simply isn't fair. I'm not sure if there is anything else we can do other than protest against income inequality or pray that the rich people have mercy!
The middle class will probably disappear and there will be an even greater gap between the rich and the poor. The top 1% can continue to become richer while the poor become even more poor. In my opinion, I think that taxing the upper 1% a greater amount than the poor would help to try to even out the distribution of money.That could even help to bring the middle class back to life.
The middle class will probably disappear and there will be an even greater gap between the rich and the poor. The top 1% can continue to become richer while the poor become even more poor. In my opinion, I think that taxing the upper 1% a greater amount than the poor would help to try to even out the distribution of money.That could even help to bring the middle class back to life.
We might be equal as humans but we're certainly not equal economically. There are rich, middle class, and poor people. Not so long ago the gap between rich and poor had widened, so we are at a risk of having more poor people than middle class.The repercussions of having income inequality in those levels caused the gap between the rich and poor to continued to widened.The effect it 'll have on the economy is that the unemployment rate will increase, and less families will be able to afford to eat and clothe themselves and their love ones. Eventually, the middle class will vanish, and there would be only "poor" or "rich" people. We are at a time that all the advantages goes to the poor; and the middle class and the poor get all the disadvantages that they could get. I' am not appose to the rich get richer there's nothing wrong in that whatsoever. But we all know that there's something wrong about the poor getting poorer, and how greatly it can affect the economy of this country and most importantly the citizens of the country. I believe that if the top 1% paid more taxes based their income there is a chance that the middle class could improve. In the other hand, if the top1% want more of a "market economy" they could put their intelligence and money together they could create a great organizations to help the less fortunate. Also to decrease the unemployment rate. As always it depends on someone to take notice and actually do something about it. There are a plethora of things that the top 1% could do, if they only notices.
I'm not surpised at what I've read.In reality, if one were at the top one percent would one really try to help someone else up to it as well. The Trickle down method that the republicans talk about is simply an outdated dream. Companies have grown to where expansion is almost not worth investing in. If a man can continue making a substantial profit with is current business overlay and the cost expanding outweigh the benefits of expanding then why expand and hire more employees. Another thing if a family at the top 1% lives a modest life, then the family is a sponge gaining tons of profit but spending small amounts of money. Becoming rich should be a possibilty, but the tax exempts shouldn't be avoided.
I think the repercussions of having income inequality at these levels are causing the middle class disappears. In my own opinion, I don't think it's fair that they make the middle class pay more taxes than the upper class. If there are people that are already rich they should be the one paying more in taxes. The middle class shouldn't be paying more in taxes, most of us are already struggling as it is just to put food on the table. The policy changes I would suggest is that, the upper class which are the rich people should pay more in taxes than the middle class. Also, I think that if the middle class pays more in taxes, then the middle class will disappears and will become the lower class.
With these levels of income inequality, the middle class is shrinking. Eventually, the middle class will disappear and we will be left with the upper 1% and the lower class. This is bad because the upper 1%, where the majority of the money is, is evading paying taxes while the 99% is paying the full amount. in my opinion, we should raise the taxes that the upper class does pay so we can get more money running through the system.
Because of the income inequality, the middle class is vanishing for many reasons. The middle class people are taxed more then the upper class, which makes absolutely no sense because the upper class is the people at the top with a lot of money, so it would make sense for them to be taxed more then the middle class. To me, their would be one way to fix this problem and it would be to tax the upper class and lower the taxes for the middle class. But if that happens then all the upper class people would get upset and their would be a conflict.
The repercussions of having income inequality at levels not seen in over 100 years, are that the middle class is slowly disappearing With all of the tax breaks and unequal distribution of wealth, the "elite rich"(The top 0.1%) are going to get even richer, and as seen with many billionaires not making the Forbes top 500 richest people list, it isn't going to get better anytime soon. I would suggest for the upper class to get higher taxes to match or exceed those of the bottom 99%.
The repercussions of having income inequality at these levels is our middle class will slowly start to decrease, leaving us with only the rich and the poor. Increasing taxes for the rich or 1% will help save the middle class from disappearing. The reason the poor is growing is because we offer them so much to be able to stay home when I think we should be creating more jobs. Improving our economy could be a big part in helping grow our middle class.
The main repercussion of having income inequality at the levels that we do, is that we are beginning to lose the middle class. The wealthy stays wealthy, while the lower class loses money, widening the gap between the upper and lower classes. The wealthy are not cashing in their investments, allowing them to avoid extra taxes. A policy change would be to raise the income tax for people in the top 1%.
Losing the middle class will be the consequence of the income inequality being at these levels. The rich get richer, while the poor get poorer, thus we will start to lose the point of where the middle class starts and where it ends, eventually losing it all together. All of the gains are going towards the top 1% percent, which is hitting the middle class harder than what it already is. Raising the income tax on the 1% and sticking to our word may help slow the splitting of the classes.
The Ameeican dream is all about getting rich but nowadays even if you reach for the stars, there's nothing in between when you don't make it. The middle class is slowly disappearing while the elite 1% continue to control most of the wealth. One is either rich or poor & that's a problem. I have no faith in a Trickle-down economy I believe that the rich should be taxed more because they're skilled at finding ways to avoid income taxes. That will be the only way to sort of even the playing. Especially when congress keeps taking money out of welfare. Republicans never will favor the labor of "the poor"
Without the middle class, there won't be an in between. You are either rich or poor. The solution to this is making the top 1% pay a higher tax. Even though it sounds unfair, it'll help our economy. Krugman quotes that none of the gains from the top TEN percent were given to the rest of the 90-95 percent. Instead, they were given to the top 1% who didn't need it as much as the lower class needed it. If the shares were given to the poor, we would have more people in the middle class that would help balance out our class. In addition, there would be lower unemployment rate. Giving our shares to the top 1% will higher the unemployment rate.
The repercussions will end up being that the middle class will vanish and there will only be the rich and the poor. The top 1% is getting all the gains and therefore we are slowly losing the middle class. In order to stop this problem we would have to raise the income tax on the top 1% to keep the classes in balance.
Due to such severe income inequality, the middle class is vanishing (everyone seems to see that). I, however, also believe that this unequal distribution of wealth will lead to extreme hunger and poverty in the the 99%. This belief leads my to ask how far the government is willing to let the inequality go before the 99% have next to nothing and the 1% have it all. I think we should definitely raise taxes on the 1% so that the wealth can be more evenly spread. I see how it can be deemed unfair, but when the rich keep getting richer, and the poor poorer (simply because the rich get richer), it seems like the only logical thing to do.
Income inequality levels at these levels are extremely hazardous to the middle class, and will even cause it to completely vanish. It’s a vicious cycle where the rich are continuing to get richer and the poor or getting poorer, this leads to a very small gap between the rich and the poor; one that is almost nonexistent. If we are to continue to give all of the gains to the top 1% percent, the middle class will be destroyed and practically become a part of history. Raising the tax on the top 1% will avoid this issue though, creating a balance between all three classes and giving the middle class more strength.
Income inequality levels at these levels are extremely hazardous to the middle class, and will even cause it to completely vanish. It’s a vicious cycle where the rich are continuing to get richer and the poor or getting poorer, this leads to a very small gap between the rich and the poor; one that is almost nonexistent. If we are to continue to give all of the gains to the top 1% percent, the middle class will be destroyed and practically become a part of history. Raising the tax on the top 1% will avoid this issue though, creating a balance between all three classes and giving the middle class more strength.
In this new Glided age it seems that the rich are getting richer and the poor getting poorer, the middle class will now be know as the lower class or they will be no middle class. It seem as though the money we lose the rich are gaining it. there seems to be no money coming down to the middle class but all the money is going up to the top 1% which is causing the middle class to struggle and the rich and the top 1% to be at ease. It's seems nothing is being done to help the middle.
Inequality has always been part of the American economy, but the gap between the rich and the poor has recently been widening at an alarming rate. Repercussions would be that the middle class is severely damaged up until the point that it disappears. Giving tax breaks to the upper 1% so that in return they would spend to stimulate the economy has not worked. They need to cut the tax on the poor and increase for the rich. Soon people will either be rich or be poor. The rich, of course control everything because they are ones with money, and money is power.
The repercussions of having unequal levels of income at these levels are obvious, the entire middle would surely disappear in the later. With out the middle, there would be no median between the rich or poor. One would either have money easily come to them, or die trying to make some. We would all love to be rich, but we can not have that, so that is why the middle class exist, to live life in comfort. The only way to keep these levels sustained and not elevate one while the other declines, would probably have to be raising taxes for the top 1% and so on.
The repercussions of having the income levels that we do now is that the middle class will begin to disappear and we'll only be left with the rich and poor. All of the money is going to the top one percent, leaving the poor to get poorer. If people paid taxes based on their income everything may begin to neutralize, and we may begin to see improvements in the middle class. Although it may not seem fair to just raise the taxes in the top one percent of the economy, they do have the money to do it and instead of spending their money on luxurious cars and glamorous items they should help stabilize the economy. The entire world will never be equal economically due to people having certain skills but if the taxes got raised depending on income that's a pretty good start.
Having the income levels that we currently do right now is causing the middle class to disappear little by little. Eventually all of the money is going to go to the top one percent which is just gonna cause the gap between the top one percent and the poor to increase. The only way i feel that we can fix this is if we start taxing the wealthy more money depending on how much they make to even things out.
Due to income inequality levels, it is making the middle class disappear. The gap has been increasing, in which the rich get richer, while the poor is getting more poor. The rich gets the benefit and the poor is the one greatly effected. I suggest for the taxes to increase for the rich, and lower the taxes for the middle class.
In this new Gilded Age, the gap between the rich and poor is widening.Having high inequality levels of income greatly affects the staggering economy. There will be no middle class. There will be struggling people everywhere and a minority of people will be able to go to a fancy restaurant. The rich get richer while the poor get poorer, and a majority of Americans will be poor. Ways to solve this division would be to tax the upper rich class a greater amount. They have the money and resources to be worth taxing and no difference will be made to their bank account. The world will never be equal but we can try making it a better place.
Because of the increasing of this gap, rich people are only going to be getting richer and the middle class people are going to be losing money continuously until the middle class vanishes completely. If we were to raise taxes to top 1% it'd resolve this problem but cause conflict between the three groups. Either way if this gap keeps increasing we can say bye to the middle class.
With income inequalities like this it lessens the middle class and widens the gap between the upper class and those who are poor. Inequalities like this let the rich get richer and the poor get poorer. A policy that could help would be a raise in taxes for those who make a certain amount of money per year. This would ensure that the upper 1%would pay more while still being able to maintain their lavish way of life and those who have trouble making enough money to buy food would have extra money to do so with.
The repercussions of the income levels is that the middle class will soon be a no class, there wouldn't be a middle class. The rich will still be rich, and most likely get richer. while the poor stay poor, and get poorer. All the money will go to the upper one percent. I feel like if they raised taxes depending on the income level of that higher one percent then it would probably start to stabilize an soon the economy will be better .
The repercussions of having income inequality at this level is that soon there will be no middle class. The rich will get richer and the poor will get poorer. Leaving the upper 1% to control most of the income and the other 99% will continue to get poorer. I think what needs to be done policy wise is that the upper 1% should get a higher tax rate. Once the taxes are raised, I think that the gap between the 99% and the upper 1% would start to close a little more and we could possibly recreate the middle class.
The income inequality is causing and will cause the disappearance of the middle class leaving a wide gap in between the rich and the poor. If policy's stay the same way when that happens then the rich will not pay much in taxes as much as the poor will which means that those who are making most of the money in the economy won't be paying for much at all, while those who are working hard trying to make a living will have to pay almost all of the taxes. This will give more money to those who are wealthy/ part of the 1%. The disappearance of the middle class will also cause middle class bushiness to be too expensive for those who are not wealthy. In my opinion I believe that the upper 1% should pay more taxes so there will be more money going through the economy.
Having income inequalities causes the majority of the middle class to disappear, only leaving the rich and the poor. If by change the policy doesn't fluctuate, then the result will be that the rich won't have to pay for as much taxes as the poor. On another note, the poor will have to pay most of the taxes and put in the hours upon hours of work/labor. I do not agree with the whole "the rich should pay more taxes" idea. Mainly because the rich worked just like the poor to make their money, they were just more prosperous from it. I think that there should not be any taxes to begin with! This isn't old England, this is the United States of America..
The repercussions of having income inequality at these levels are a wider gap between the rich and the poor. The middle class will still be present but it will continue to become smaller. The upper 1% will remain rich and the poor will continue to become poor. A policy change that should be set in place is that the upper 1% tax should increase, heavily, and the poor tax should decrease, or even out. The money needs to be circulated in the economy evenly. Overall the tax on the upper 1% should increase.
what this is saying is that the middle class is slowly disappearing and the "rich is becoming richer" and the "poor is becoming poorer" this is the first time in over 100 years for it to be seen like this. of the gains of the top 10% the bulk of it didn't even make it to the 90-95 range.i believe the that taxing should disappear in general but if it does continue even though most of the richer worked just as hard they should be taxed a little higher than the poorer to fix this situation.
what this is saying is that the middle class is slowly disappearing and the "rich is becoming richer" and the "poor is becoming poorer" this is the first time in over 100 years for it to be seen like this. of the gains of the top 10% the bulk of it didn't even make it to the 90-95 range.i believe the that taxing should disappear in general but if it does continue even though most of the richer worked just as hard they should be taxed a little higher than the poorer to fix this situation.
The repercussion of having income inequality at this level is that all the burden is put on the 99 percentile making the gap between the 1% and the 99% larger. The diffference has come to the extremes of the 99%, or the middle class, almost disappearing. As the quote goes "the rich get richer & the poor only get poorer". I would suggest raising the taxes for the upper class. This would make things fair because it charges people taxes according to their income. It is not fair for a person who can barely afford food to pay the same taxes as a billionaire.
In this new Gilded Age, the middle class is in an extremely vulnerable position because of the income inequality levels. This is due to the fact that the wealthy people are becoming more wealthy and at the same time the poorer people are becoming poorer. So where does the middle class fall in? The gap between the rich and poor is relatively small almost eliminating the entire middle class. All of the money is being given to the top 1% which degrades the middle class. There should be a way in which all classes are balanced so that the middle class doesn't vanish. One way to do that is to raise the taxes on the top 1% so that power is being distributed at equal amounts instead of the 1% having all the power.
the reprucusion is happening everywhere we look . The middle class is disappearing as the gap between the rich and the poor gets larger. At this level is that soon there will be no middle class and the rich will get richer and the poor will get poorer. Leaving the upper 1% to control most of the income and the other 99% will continue to get poorer.One way to do that is to raise the taxes on the top 1% so that power is being distributed at equal amounts instead of the 1% having all the power which would then make things fair for all. Therefore avoiding anyfuture problems and if anything solving most of them. Kevin Pestana P.5 I did this at my cousins and I still havn't used my computer for the reason that i told you in person.
Due to income inequality at those levels, the middle class starts to disappear. The rich continue to stay rich while the poor lose money. Leaving the upper 1% to control most of the income and the other 99% will continue to get poorer. A policy change that should be set in place is that the upper 1% tax should increase, heavily, and the poor tax should decrease, or even out. The money needs to be circulated in the economy evenly. Overall the tax on the upper 1% should increase.
The differences between income levels are slowly eating up our middle class. The saying "the rich get richer" and "the poor get poorer" is all too real. Somehow the rich's taxes are reduced, but doesn't make sense. The ones with the large sums of money to spend freely are the ones being helped out. Which leaves the upper 1% to control majority of income. A policy that should be put in effect is increase the taxes for the upper 1%. The better off you are financially, the more your taxes should be.
Due to income inequality at those levels, the middle class starts to disappear. The rich continue to stay rich while the poor lose money. The problem with the policy is that the rich evade their taxes by not cashing in investments. If the policy was to require them to do that, then more money would be distributed to everyone else. Another policy change would be to raise the graduated income tax for the top 1%.
ReplyDeleteHaving income inequalities at these levels, cause the "middle class" to vanish. Because the "Rich get richer" and the "Poor get poorer". The rich, is said that their taxes are reduced, but why it makes no sense, the people who have all the money barely have to pay for anything. The problem the policy has is that the rich just keeps all their money and do not invest their greedy. If the policy was equal to all classes, more money could be distributed to the rest of the classes, and that way maybe, there wouldn't be anymore classes. Everyone would be equal. The policy just has to raise the income tax to the 1% or the rich, that would be a really smart choice.
ReplyDeleteThe repercussions are already happening all around us. The middle class is disappearing as the gap between the rich and the poor gets larger. Businesses that are intended for middle class people and are too expensive for the poorer class will also go out of business, as they wouldn't have people buying from them anymore. The theory was to give more money to the upper 1% and in return they would spend a lot more money and stimulate the economy but obviously that doesn't happen. They need to cut the tax on the poor and increase for the rich because the 1% won’t stop buying just because they get taxed a bit more.
ReplyDeleteThis “New Guilded Age” represents new repercussions of income inequality which basically states that the upper 1% will have control on the total before-tax income of households. The majority of the economy, the 99%, will be affected the most. In the report it was stated that this has not happened in more than 100 years. If the economy was not that great for the past couple of years imagine the negative toll it will take on majority of the country after this projection? The obvious policy changes I would suggest ought to be heavily taxes that would be held accountable for the upper 1%. It will even the ball game in my opinion.
ReplyDeleteThe gap between the rich and the poor will continue to widened until the middle class vanishes. Soon you will either be rich or be poor. The rich, of course control every action because they can afford to do so , while the poor have practically no say in the decisions that are made, but are affected anyway.We have the top 1 % who are doing everything they can to stay, if not become richer instead of extending their helping hand to the 99%. I suggest that the top 1% should invest more in businesses that will hire the rest of the population to allow them to at least rise to a middle class. That way, employment rates would dramatically decrease and the gap between the rich and the poor could shorten.The rich should be able to get richer while the poor gets better. Everyone would never equal but if more money get distributed to the 99% then we will all do well and be comfortable with the class we fit in.
ReplyDeleteThere are a lot of repercussions of having income inequality at these levels. One of them is that the inequality affects the middle class alot. In my opinion, stable or income equality is something we will never have. No matter how many efforts we make, we can't really expect much to change. My suggestions would be to raise taxes for the rich people. Also, we could create more jobs to get the poor employed and actually pay them for their hard work. Indeed, the issue is POWER. Money makes the rich powerful and the poor defendless. The 1% will keep on rising while the 99% is sinking. It simply isn't fair. I'm not sure if there is anything else we can do other than protest against income inequality or pray that the rich people have mercy!
ReplyDeleteThe middle class will probably disappear and there will be an even greater gap between the rich and the poor. The top 1% can continue to become richer while the poor become even more poor. In my opinion, I think that taxing the upper 1% a greater amount than the poor would help to try to even out the distribution of money.That could even help to bring the middle class back to life.
ReplyDeleteThe middle class will probably disappear and there will be an even greater gap between the rich and the poor. The top 1% can continue to become richer while the poor become even more poor. In my opinion, I think that taxing the upper 1% a greater amount than the poor would help to try to even out the distribution of money.That could even help to bring the middle class back to life.
ReplyDeleteWe might be equal as humans but we're certainly not equal economically. There are rich, middle class, and poor people. Not so long ago the gap between rich and poor had widened, so we are at a risk of having more poor people than middle class.The repercussions of having income inequality in those levels caused the gap between the rich and poor to continued to widened.The effect it 'll have on the economy is that the unemployment rate will increase, and less families will be able to afford to eat and clothe themselves and their love ones. Eventually, the middle class will vanish, and there would be only "poor" or "rich" people. We are at a time that all the advantages goes to the poor; and the middle class and the poor get all the disadvantages that they could get. I' am not appose to the rich get richer there's nothing wrong in that whatsoever. But we all know that there's something wrong about the poor getting poorer, and how greatly it can affect the economy of this country and most importantly the citizens of the country. I believe that if the top 1% paid more taxes based their income there is a chance that the middle class could improve. In the other hand, if the top1% want more of a "market economy" they could put their intelligence and money together they could create a great organizations to help the less fortunate. Also to decrease the unemployment rate. As always it depends on someone to take notice and actually do something about it. There are a plethora of things that the top 1% could do, if they only notices.
ReplyDeleteI'm not surpised at what I've read.In reality, if one were at the top one percent would one really try to help someone else up to it as well. The Trickle down method that the republicans talk about is simply an outdated dream. Companies have grown to where expansion is almost not worth investing in. If a man can continue making a substantial profit with is current business overlay and the cost expanding outweigh the benefits of expanding then why expand and hire more employees. Another thing if a family at the top 1% lives a modest life, then the family is a sponge gaining tons of profit but spending small amounts of money. Becoming rich should be a possibilty, but the tax exempts shouldn't be avoided.
ReplyDeleteI think the repercussions of having income inequality at these levels are causing the middle class disappears. In my own opinion, I don't think it's fair that they make the middle class pay more taxes than the upper class. If there are people that are already rich they should be the one paying more in taxes. The middle class shouldn't be paying more in taxes, most of us are already struggling as it is just to put food on the table. The policy changes I would suggest is that, the upper class which are the rich people should pay more in taxes than the middle class. Also, I think that if the middle class pays more in taxes, then the middle class will disappears and will become the lower class.
ReplyDeleteWith these levels of income inequality, the middle class is shrinking. Eventually, the middle class will disappear and we will be left with the upper 1% and the lower class. This is bad because the upper 1%, where the majority of the money is, is evading paying taxes while the 99% is paying the full amount. in my opinion, we should raise the taxes that the upper class does pay so we can get more money running through the system.
ReplyDeleteBecause of the income inequality, the middle class is vanishing for many reasons. The middle class people are taxed more then the upper class, which makes absolutely no sense because the upper class is the people at the top with a lot of money, so it would make sense for them to be taxed more then the middle class. To me, their would be one way to fix this problem and it would be to tax the upper class and lower the taxes for the middle class. But if that happens then all the upper class people would get upset and their would be a conflict.
ReplyDeleteThe repercussions of having income inequality at levels not seen in over 100 years, are that the middle class is slowly disappearing With all of the tax breaks and unequal distribution of wealth, the "elite rich"(The top 0.1%) are going to get even richer, and as seen with many billionaires not making the Forbes top 500 richest people list, it isn't going to get better anytime soon. I would suggest for the upper class to get higher taxes to match or exceed those of the bottom 99%.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteThe repercussions of having income inequality at these levels is our middle class will slowly start to decrease, leaving us with only the rich and the poor. Increasing taxes for the rich or 1% will help save the middle class from disappearing. The reason the poor is growing is because we offer them so much to be able to stay home when I think we should be creating more jobs. Improving our economy could be a big part in helping grow our middle class.
ReplyDeleteThe main repercussion of having income inequality at the levels that we do, is that we are beginning to lose the middle class. The wealthy stays wealthy, while the lower class loses money, widening the gap between the upper and lower classes. The wealthy are not cashing in their investments, allowing them to avoid extra taxes. A policy change would be to raise the income tax for people in the top 1%.
ReplyDeleteLosing the middle class will be the consequence of the income inequality being at these levels. The rich get richer, while the poor get poorer, thus we will start to lose the point of where the middle class starts and where it ends, eventually losing it all together. All of the gains are going towards the top 1% percent, which is hitting the middle class harder than what it already is. Raising the income tax on the 1% and sticking to our word may help slow the splitting of the classes.
ReplyDeleteThe Ameeican dream is all about getting rich but nowadays even if you reach for the stars, there's nothing in between when you don't make it. The middle class is slowly disappearing while the elite 1% continue to control most of the wealth. One is either rich or poor & that's a problem. I have no faith in a Trickle-down economy I believe that the rich should be taxed more because they're skilled at finding ways to avoid income taxes. That will be the only way to sort of even the playing. Especially when congress keeps taking money out of welfare. Republicans never will favor the labor of "the poor"
ReplyDeleteWithout the middle class, there won't be an in between. You are either rich or poor. The solution to this is making the top 1% pay a higher tax. Even though it sounds unfair, it'll help our economy. Krugman quotes that none of the gains from the top TEN percent were given to the rest of the 90-95 percent. Instead, they were given to the top 1% who didn't need it as much as the lower class needed it. If the shares were given to the poor, we would have more people in the middle class that would help balance out our class. In addition, there would be lower unemployment rate. Giving our shares to the top 1% will higher the unemployment rate.
ReplyDeleteThe repercussions will end up being that the middle class will vanish and there will only be the rich and the poor. The top 1% is getting all the gains and therefore we are slowly losing the middle class. In order to stop this problem we would have to raise the income tax on the top 1% to keep the classes in balance.
ReplyDeleteDue to such severe income inequality, the middle class is vanishing (everyone seems to see that). I, however, also believe that this unequal distribution of wealth will lead to extreme hunger and poverty in the the 99%. This belief leads my to ask how far the government is willing to let the inequality go before the 99% have next to nothing and the 1% have it all. I think we should definitely raise taxes on the 1% so that the wealth can be more evenly spread. I see how it can be deemed unfair, but when the rich keep getting richer, and the poor poorer (simply because the rich get richer), it seems like the only logical thing to do.
ReplyDeleteIncome inequality levels at these levels are extremely hazardous to the middle class, and will even cause it to completely vanish. It’s a vicious cycle where the rich are continuing to get richer and the poor or getting poorer, this leads to a very small gap between the rich and the poor; one that is almost nonexistent. If we are to continue to give all of the gains to the top 1% percent, the middle class will be destroyed and practically become a part of history. Raising the tax on the top 1% will avoid this issue though, creating a balance between all three classes and giving the middle class more strength.
ReplyDeleteIncome inequality levels at these levels are extremely hazardous to the middle class, and will even cause it to completely vanish. It’s a vicious cycle where the rich are continuing to get richer and the poor or getting poorer, this leads to a very small gap between the rich and the poor; one that is almost nonexistent. If we are to continue to give all of the gains to the top 1% percent, the middle class will be destroyed and practically become a part of history. Raising the tax on the top 1% will avoid this issue though, creating a balance between all three classes and giving the middle class more strength.
ReplyDeleteIn this new Glided age it seems that the rich are getting richer and the poor getting poorer, the middle class will now be know as the lower class or they will be no middle class. It seem as though the money we lose the rich are gaining it. there seems to be no money coming down to the middle class but all the money is going up to the top 1% which is causing the middle class to struggle and the rich and the top 1% to be at ease. It's seems nothing is being done to help the middle.
ReplyDeleteInequality has always been part of the American economy, but the gap between the rich and the poor has recently been widening at an alarming rate. Repercussions would be that the middle class is severely damaged up until the point that it disappears. Giving tax breaks to the upper 1% so that in return they would spend to stimulate the economy has not worked. They need to cut the tax on the poor and increase for the rich. Soon people will either be rich or be poor. The rich, of course control everything because they are ones with money, and money is power.
ReplyDeleteThe repercussions of having unequal levels of income at these levels are obvious, the entire middle would surely disappear in the later. With out the middle, there would be no median between the rich or poor. One would either have money easily come to them, or die trying to make some. We would all love to be rich, but we can not have that, so that is why the middle class exist, to live life in comfort. The only way to keep these levels sustained and not elevate one while the other declines, would probably have to be raising taxes for the top 1% and so on.
ReplyDeleteThe repercussions of having the income levels that we do now is that the middle class will begin to disappear and we'll only be left with the rich and poor. All of the money is going to the top one percent, leaving the poor to get poorer. If people paid taxes based on their income everything may begin to neutralize, and we may begin to see improvements in the middle class. Although it may not seem fair to just raise the taxes in the top one percent of the economy, they do have the money to do it and instead of spending their money on luxurious cars and glamorous items they should help stabilize the economy. The entire world will never be equal economically due to people having certain skills but if the taxes got raised depending on income that's a pretty good start.
ReplyDeleteHaving the income levels that we currently do right now is causing the middle class to disappear little by little. Eventually all of the money is going to go to the top one percent which is just gonna cause the gap between the top one percent and the poor to increase. The only way i feel that we can fix this is if we start taxing the wealthy more money depending on how much they make to even things out.
ReplyDeleteDue to income inequality levels, it is making the middle class disappear. The gap has been increasing, in which the rich get richer, while the poor is getting more poor. The rich gets the benefit and the poor is the one greatly effected. I suggest for the taxes to increase for the rich, and lower the taxes for the middle class.
ReplyDeleteIn this new Gilded Age, the gap between the rich and poor is widening.Having high inequality levels of income greatly affects the staggering economy. There will be no middle class. There will be struggling people everywhere and a minority of people will be able to go to a fancy restaurant. The rich get richer while the poor get poorer, and a majority of Americans will be poor. Ways to solve this division would be to tax the upper rich class a greater amount. They have the money and resources to be worth taxing and no difference will be made to their bank account. The world will never be equal but we can try making it a better place.
ReplyDeleteBecause of the increasing of this gap, rich people are only going to be getting richer and the middle class people are going to be losing money continuously until the middle class vanishes completely. If we were to raise taxes to top 1% it'd resolve this problem but cause conflict between the three groups. Either way if this gap keeps increasing we can say bye to the middle class.
ReplyDeleteWith income inequalities like this it lessens the middle class and widens the gap between the upper class and those who are poor. Inequalities like this let the rich get richer and the poor get poorer. A policy that could help would be a raise in taxes for those who make a certain amount of money per year. This would ensure that the upper 1%would pay more while still being able to maintain their lavish way of life and those who have trouble making enough money to buy food would have extra money to do so with.
ReplyDeleteThe repercussions of the income levels is that the middle class will soon be a no class, there wouldn't be a middle class. The rich will still be rich, and most likely get richer. while the poor stay poor, and get poorer. All the money will go to the upper one percent. I feel like if they raised taxes depending on the income level of that higher one percent then it would probably start to stabilize an soon the economy will be better .
ReplyDeleteThe repercussions of having income inequality at this level is that soon there will be no middle class. The rich will get richer and the poor will get poorer. Leaving the upper 1% to control most of the income and the other 99% will continue to get poorer. I think what needs to be done policy wise is that the upper 1% should get a higher tax rate. Once the taxes are raised, I think that the gap between the 99% and the upper 1% would start to close a little more and we could possibly recreate the middle class.
ReplyDeleteThe income inequality is causing and will cause the disappearance of the middle class leaving a wide gap in between the rich and the poor. If policy's stay the same way when that happens then the rich will not pay much in taxes as much as the poor will which means that those who are making most of the money in the economy won't be paying for much at all, while those who are working hard trying to make a living will have to pay almost all of the taxes. This will give more money to those who are wealthy/ part of the 1%. The disappearance of the middle class will also cause middle class bushiness to be too expensive for those who are not wealthy. In my opinion I believe that the upper 1% should pay more taxes so there will be more money going through the economy.
ReplyDeleteHaving income inequalities causes the majority of the middle class to disappear, only leaving the rich and the poor. If by change the policy doesn't fluctuate, then the result will be that the rich won't have to pay for as much taxes as the poor. On another note, the poor will have to pay most of the taxes and put in the hours upon hours of work/labor. I do not agree with the whole "the rich should pay more taxes" idea. Mainly because the rich worked just like the poor to make their money, they were just more prosperous from it. I think that there should not be any taxes to begin with! This isn't old England, this is the United States of America..
ReplyDeleteThe repercussions of having income inequality at these levels are a wider gap between the rich and the poor. The middle class will still be present but it will continue to become smaller. The upper 1% will remain rich and the poor will continue to become poor. A policy change that should be set in place is that the upper 1% tax should increase, heavily, and the poor tax should decrease, or even out. The money needs to be circulated in the economy evenly. Overall the tax on the upper 1% should increase.
ReplyDeletewhat this is saying is that the middle class is slowly disappearing and the "rich is becoming richer" and the "poor is becoming poorer" this is the first time in over 100 years for it to be seen like this. of the gains of the top 10% the bulk of it didn't even make it to the 90-95 range.i believe the that taxing should disappear in general but if it does continue even though most of the richer worked just as hard they should be taxed a little higher than the poorer to fix this situation.
ReplyDeletewhat this is saying is that the middle class is slowly disappearing and the "rich is becoming richer" and the "poor is becoming poorer" this is the first time in over 100 years for it to be seen like this. of the gains of the top 10% the bulk of it didn't even make it to the 90-95 range.i believe the that taxing should disappear in general but if it does continue even though most of the richer worked just as hard they should be taxed a little higher than the poorer to fix this situation.
ReplyDeleteThe repercussion of having income inequality at this level is that all the burden is put on the 99 percentile making the gap between the 1% and the 99% larger. The diffference has come to the extremes of the 99%, or the middle class, almost disappearing. As the quote goes "the rich get richer & the poor only get poorer". I would suggest raising the taxes for the upper class. This would make things fair because it charges people taxes according to their income. It is not fair for a person who can barely afford food to pay the same taxes as a billionaire.
ReplyDeleteIn this new Gilded Age, the middle class is in an extremely vulnerable position because of the income inequality levels. This is due to the fact that the wealthy people are becoming more wealthy and at the same time the poorer people are becoming poorer. So where does the middle class fall in? The gap between the rich and poor is relatively small almost eliminating the entire middle class. All of the money is being given to the top 1% which degrades the middle class. There should be a way in which all classes are balanced so that the middle class doesn't vanish. One way to do that is to raise the taxes on the top 1% so that power is being distributed at equal amounts instead of the 1% having all the power.
ReplyDeletethe reprucusion is happening everywhere we look . The middle class is disappearing as the gap between the rich and the poor gets larger. At this level is that soon there will be no middle class and the rich will get richer and the poor will get poorer. Leaving the upper 1% to control most of the income and the other 99% will continue to get poorer.One way to do that is to raise the taxes on the top 1% so that power is being distributed at equal amounts instead of the 1% having all the power which would then make things fair for all. Therefore avoiding anyfuture problems and if anything solving most of them.
ReplyDeleteKevin Pestana P.5
I did this at my cousins and I still havn't used my computer for the reason that i told you in person.
Due to income inequality at those levels, the middle class starts to disappear. The rich continue to stay rich while the poor lose money. Leaving the upper 1% to control most of the income and the other 99% will continue to get poorer. A policy change that should be set in place is that the upper 1% tax should increase, heavily, and the poor tax should decrease, or even out. The money needs to be circulated in the economy evenly. Overall the tax on the upper 1% should increase.
ReplyDeleteThe differences between income levels are slowly eating up our middle class. The saying "the rich get richer" and "the poor get poorer" is all too real. Somehow the rich's taxes are reduced, but doesn't make sense. The ones with the large sums of money to spend freely are the ones being helped out. Which leaves the upper 1% to control majority of income. A policy that should be put in effect is increase the taxes for the upper 1%. The better off you are financially, the more your taxes should be.
ReplyDelete