What a Trump Administration Might mean for Income Inequality by Erik Sherman

Sherman (2016) suggests that the problem of economic inequality in America is unavoidable in his piece, What a Trump Administration Might Mean for Income Inequality. Apparently, a sizable proportion of the middle class felt neglected by the previous administration, making their lives in the region even more difficult. Clearly, the people are struggling to make ends meet due to the low wages they receive from their work. Furthermore, it is clear that in America, poverty and income inequality are related with minorities rather than being a factor influenced by class, ethnicity, or race (Sherman, 2016). It is clear that the aspect of income inequality in America has grown at a fast rate in the recent years. The high rates of income inequality in America has spurred outrage and increased protests as people advocate for equality in the region. However, the Congress has not established policies which can permanently address the presented problems in America. Despite this, it is still a fact that income inequality has significantly affected the nation’s financial stability, public spending and average health among others.

To solve the problem of income inequality in America, considering an electoral change may be the source of a permanent solution based on what the Congress is ready to deliver and eliminate to ensure income equality for all Americans. Taking into consideration the policies that the Trump administration seeks to undertake, the middle-class considered Trump as their source of salvation. Apparently, with this administration, the future will no longer be harder as a result of the favorable economic conditions. Clearly, more job opportunities will be created for the people as a result of economic efforts outlined by the policies. For example, it is apparent that Trump’s administration will focus on upgrading telecommunications alongside other economic efforts which would provide the jobless Americans with an opportunity of working and generating an income. However, it still remains a fact that if such developments take place in economically depressed regions, the existing income inequality problem in the region will not be addressed.

It is apparent that major policy changes within the Trump administration would result to increased employment opportunities. However, it is also a fact that the creation of the presented job offers would not be pleasant for some people in the region. Evidently, the deportation measures in place means working for private prison companies and housing people during the presented processes. The fact that Trump focused on returning the manufacturing jobs which were well paying also communicated a message that his administration is focused on promoting income equality. Furthermore, through a considerable tax cuts, the aspect of income inequality is significantly addressed.

Changes That I would Make

To address the problem of income inequality in America, I would ensure the production of more employment opportunities for the people which is focused on providing the people with high pay. I would ensure this through upgrading telecommunications and institution road and bride repairs. However, I would ensure that the people employed within the presented job offers are from economically disadvantaged zones. Furthermore, I would address the problem of income inequality by establishing a favorable tax budget. With the desirable budget policies, the level of federal deficit would significantly record a decline which means that the grave problems noted on employment, growth and income inequality would be addressed even in the future years in America. Still on the issue of tax, I would foresee the establishment of a progressive tax system. The presented system will focus on taxing the individuals evident in the upper income groups higher rates in comparison to those in the lower income brackets. Through this, a general equality will be ensured among the members of the society.

Additionally, I would address the problem of income inequality by offering free education training for the members of the low income bracket who cannot afford paying for education. Through this, the people will be impacted with the right knowledge and skills which allows them to secure competitive employment opportunities. As a result, they will be in a position to generate desirable income to ensure that they match up the people from the high income bracket.

Views

It is apparent that a balanced budget amendment has the capacity of adding a budget rule to the constitution therefore ensuring the federal spending to remain within the limits of the general federal spending. In this case, the federal government would not have the mandate to run deficits on annual budget. A balanced budget amendment would reduce the level of income inequality in American in that it will establish a strong political pressure which reins in deficits and increases the need for irresponsibility and accountability for the fiscal policy. Based on the fact that few elected officials would be facing budget constituents which violates the constitution, the opposing parties would be forced to pass legislation which would meet the general constitutional requirements.

Historical Event

Income inequality has a significant impact to my daily life. Evidently, living in a society that is characterized by a high level of inequality means that stress and anxiety is a common occurrence experienced by people. It is a fact that with the income inequality, the economy is also less stable resulting to instances of financial crisis, inflation, debt and economic instability. Income inequality has greatly affected how I see the people around me in the society based as well as my state of happiness. I rarely trust people around me since some may consider the fact that we fall in different economic bracket a threat. With this, my general level of happiness has significantly declined since I cannot live comfortable in the presented society with a high level of income inequality. The state of income inequality in America has also affected by health state since living in a society which is unequal causes anxiety and stress. With this, my general wellness and health is greatly affected posing even more threat to my ability to live longer. It is also a fact that crime in a society characterized by high inequality rates is also significantly high. Property crime and violent crimes are majorly common in various regions in America hence the high levels of homicides reported in the region.

Income inequality has also affected my general behavior especially when it comes to the aspect of decision making. In my daily life, income inequality has significantly transformed how I spend my finances on a daily basis. Clearly, I refrain from overspending based on the fact that the general economic stability of America is at a threat. As is, I may overspend today and find myself in a difficult financial position in the next day. When it comes to recreation, it is apparent that I no longer spend to much finance on the recreational facilities. In fact, I have transformed my recreational spending into purchasing basic necessities such as food and clothing to avoid plunging in difficult financial positions even in the future. Despite this, I have also strived to make America a better place to live in. Being an entrepreneur, I have focused on creating more employment opportunities for the people to counteract the high level of income inequality evident in the region.



Conclusion

To conclude, it is evident that the problem of income inequality in America cannot be overlooked. The situation has resulted to increased crime rates as a result of the high level of economic instability which has its roots to the noted financial problem. It is a fact that the people from the middle income earning brackets feel like the government has neglected its needs when it comes to the provision of more employment opportunities to counteract the income inequality problem. However, with the Trump economic policies, a new hope is provided for the people hoping for a more equal society when it comes to matters of finance. Incidentally, Trump seeks to reinstate the high paying manufacturing jobs to create more job opportunity. Also, the president made a promise to provide more jobs through infrastructure development. With this, the problem of inequality will be addressed one day at a time for success.







References

Sherman, E. (2016). What a Trump Administration Might mean for Income Inequality. Forbes. Retrieved from https://www.forbes.com/sites/eriksherman/2016/11/12/what-a-trump-administration-might-mean-for-income-inequality/#2c7e8c73a783