Davis exploration of the future expectations of urbanization in the radical yet unequally and highly unstable global world indicates that urbanization and industrialization are incoherent. Urbanization always forms aspects of industrialization and economical escalation in most developed countries, but the developing countries are full of shanty housing units that are the habitat for many people, thus making them far from the formal world of economic advancement (Davis, 2006).
According to Davis (2006), the increase of the slums is fully unnoticed by the classic Marxism and other liberation theories such as neo-liberal. The writer presents the global overview of the divers political, religious and ethnic groups or movements, fighting for personal growth and benefits at the expense of the poor.
The writing brings about data from various global locations such as Bombay where he gives the analysis of Hindu fundamentalism, Casablanca in Cairo where he talks of the Islamic resistance among others. His main question regards the role of urbanized and well off economies on the matter slums in developing countries.
Does the exponential growth of the slums have a link to the poor or corrupt administrations? Are the IMF and other handouts such as the structural assistance programs, a massive transfer of the wealth from the poor to the rich? The writing of Davis revamps the myth of ‘self-help salvation,’ indicating irresponsible leadership in support of personal gains while the poor and middle class continues to perish.
There is an indication that the battlefields between the wealthy or economically stable countries and the terrorists are occurring at the poor people peripheries (Davis, 2006). The geographically stable political elites fail to look upon and recognize the existence of problems caused by imperial social controls on the slums.
What causes the urban populations to out number the rural? The urbanization my be catalyzed by Informal wages, food handouts from first world countries, development needs, modernization, poverty or social class status, but the gigantic concentrations of poverty in urban slums are economically and logically unsustainable.
The decoupling of urbanization from industrialization is posing some reality. The growth of populations in the urban centres does not translate to growth of production especially in the sub-Saharan Africa, Middle East, Latin America and parts of Asia.
The urbanization without a good link to economical growth of a city means that there are some influences of global politics legacies. The debts of these countries call for the IMF provisions for restructuring the economies. Despite the handouts, the urban unemployment statuses continue in the third world countries.
In some countries that experience negative GDP growth, the urban populace is still high due to the IMF’s enforcement policies to support deregulation of the agricultural sectors, by accelerated provision of surpluses, thus the exodus of rural labour force.
In line with Davis’s writing (2006), there are global forces that push people from the countryside to the urban sectors such as mechanization, food imports, civil wars and drought. Consolidation and mergers of small business to large enterprises and the business competitions for industrial growth are major causes of urbanization even when the economy is weak and countries are heavily indebted.
The IMF, World Bank, WTO and other financial institutions are highly pushing for the structural advancement and growth in the urban centres. The institutions provide the implication that the root cause of the poverty-infested slums has a close connection to governance styles.
According to the IMF reports on the increase of slums in urban centres, globalization and inequality are not the causes of the over-populated slums but poor governance. The structural adjustment programs funded by the IMF are rather neoliberal due to the constant increase in urban slums and thus the cause of poverty. The funds continue to weaken the efforts of the urban elutes to support growth.
One would consider the logic behind the IMF slum structural adjustment program to be restoration of the economy especially in support of the underprivileged majority in the urban centres, but the results is an increase of populations at the centres and brain drains to rich countries. The restructuring adjustments by the IMF and World Bank were a source of displacement for the most urban populace whose destiny was the slums.
According to Davis (2006), considering all he countries the IMF/World Bank offers financial guarantee or assistance, the economy of the poor country succumbs due to devaluation, elimination of the import modus operandi, privatization related issues, enforcement of cost recovery measures especially in the health or education sectors and, food subsidies. These features are all measures that downsize the public sectors.
Conclusion
Is the poverty and slum life becoming a common phenomenon in developing countries? Are the uncontrolled governance and funding for the urbanization by the financial institutions from the well up countries the root causes of the situation? There is a steady alarming rise of the urban population in comparison to the general growth rates. The effects are now traceable to the rural poverty, social problems, governance complexities, violence, insecurity, and poor services provisions.
Reference
Davis, M. (2006) Planet of Slums, London, UK: Verso Publishers, Print
The current social situation in United States suggests that the notion of racial differentiation is extremely important. Indeed, division into social groups in accordance with race is a common phenomenon in educational establishments, workplaces, and in routine life in general.
It determines people’s way of life and attitudes of others towards them. However, is such differentiation justified? In his article “It’s Class, Stupid!” Richard Rodriguez managed to prove the existence of another, more objective criterion for social groups’ differentiation, which is wealth level.
One of the main issues of the author’s concern is color of skin as the most significant factor for living in American society. Rodriguez gives a lot of evidence for this idea, using elements of exemplification in his article. For instance, the author mentions the American writers, who “are brilliant at describing what it is like to be a racial minority” (Rodriguez, 1). Using such irony, the writer clarifies to the readers his position, showing that he disapproves such preoccupation of his nation with race differentiation.
In contrast to the existing way of social distinction, the author offers an alternative one, which is dividing people into rich and poor. He introduces the notion of “poor whites” (Rodriguez, 1), in order to prove that not only black people suffer from social inequity.
Rodriguez names numerous cases, which show the relevance of such reevaluation of society. Specifically, he tells about poor whites, who are willing to study, but who have no other choice but finding a “dollar-and-cents job working at Safeway or McDonald’s”, due to the financial state of their family (Rodriguez, 1). Thus, Rodriguez proves that material comforts or their absence are more important than belonging to a certain racial group.
Moreover, Rodriguez insists that subdivision of society into classes is a more objective way of social differentiation. The author emphasizes, “poor whites do not constitute an officially recognized minority group” (Rodriguez, 1).
Therefore, the writer encourages Americans, focused on racial narrow-mindedness, to extend their limits of society perception and admit the existence of social classes. What is more, Rodriguez mentions European society as the one, where the acknowledgement of lower social groups is progressing, setting an example for Americans. This proves the rational nature of author’s ideas.
It is worth mentioning that Rodriguez uses a persuasive tone in his argument. One of the evidences is the use of irony and sarcasm in the article: “Our only acknowledgment of working-class existence is to wear fashionable working-class denim” (Rodriguez, 1). The other feature of persuasion is the use of such lexical units as “sneer”, “rednecks”, “trailer-park trash”, etc. (Rodriguez, 1).
In addition, the writer uses a deductive type of discourse, developing his ideas from general statements to specific examples. Such tools help the writer to express his opinion more clearly and influence the readers. The main target emotions that are to be caused are shame, self-consciousness, and compassion.
All in all, the article of Rodriguez is aimed at showing the division into rich and poor more adequate than the division into black and white. Thus, the article discusses an important and topical social issue, which proves its usefulness. The author uses various techniques in order to prove his idea; he presents evidences of his own experience and of world famous cases, which support his point of view. The author is rather successful at persuasion, and his article is very educational.
The quality of one’s future after retirement primarily depends on the amount of savings or wealth they accumulated during their early working days. Therefore, because of the unpredictability of the economy, proper planning for retirement is one of the primary things that every American citizen should endeavor to do, because failure to do this can be very detrimental to one’s quality of life after retirement.
As compared to the past when it was simple to approximate the amount of funds that were necessary to sustain individuals throughout their old age, currently, the instability of the economy has made this task almost impossible, as result of the ever-changing cost of living.
Over the recent past, prices of essential commodities, transportation, health and primary care has risen drastically, and because likelihoods of this trend persisting to the future is high, it becomes important for individuals to adopt better saving options for their retirement. Although there are many schemes of saving for retirement, most Americans have put their entire hopes on social security as their primary way of saving, with little consideration of its shortcomings.
The stability of social security scheme has been one of the most debated issues by the elite class, because of its deficits in meeting all its clients’ retirement needs. For example, as research studies show, social security only caters for approximately 60% of an elderly person’ needs; hence, heavy reliance on this program can greatly jeopardize one’s quality life after retirement, if they solely depend on only this program’s funds (Pond, 2010, p.1).
Considering this, it is important for workers to reformulate their retirement saving plans, by starting to save early and adopting new and better saving plans, which will give them an opportunity of accumulating real wealth that is enough to cater for their retirement needs.
Why Save for Retirement starting from Now
In formulating retirement plans, most individuals primarily target particular retirement ages, with little consideration of the fact that, likelihoods of uncertainties occurring, which may force them to retire early are high.
In addition, with the current economic situation, regardless of the reliability of the method used to approximate the amount of savings that individual will need for their life after retirement, most of these methods never account for the numerous economic changes that may alter the an individuals spending habits, amount of expenses, and general lifestyle.
In any economic situation, because inflation is inevitable, failing to cater for economic uncertainties that are likely to occur in the future, hence save enough funds to cater for them, can greatly jeopardize a retiree’s life.
This makes it necessary, for individuals to start saving immediately after they start working, it being one of the primary methods of ensuring they would have saved enough for retirement, incase they are weak or not able to work during their late adulthood ages.
By 2003, as indicated by research studies, approximately two out of five retirees accepted to have retired early than they had anticipated, because of health complications, effects of economic crisis that faced their organizations, work problems, and change in career plans.
As the result of these reasons, the credibility of social security scheme is questionable, because the amount of accumulated funds from the program depends on how long an individual works, making it hard to rely on it sorely (Sondergeld, Greenwald & Rowland, 2005, pp. 6-15).
Social security is a state managed program; hence, although it can be a promising method of saving, like any other governmental program it can go into bankruptcy. If this like an occurrence occurs, most retirees who saved sorely through the scheme or who sorely depend on the scheme are likely to suffer in poverty or struggle their entire life searching for ways of sustaining themselves.
Another thing that makes the social security program to be an unreliable anti-poverty and retirement scheme is the nature extreme of influences of politics on its running.
Majority of the policies that run the American social security program are politically driven; hence, largely, this program rarely takes into consideration the amount of struggle the ordinary citizen has to go through in the endeavor to save for retirement. This makes it necessary fro individuals to embark on the process of saving for their future immediately they join the workforce by adopting good saving schemes that are reliable and accommodate the type of lifestyle every American, regardless of their socioeconomic status.
A good saving plan should not limit or penalize any member of the society, but rather it should offer them good returns for any amount of funds saved; funds that can enable individuals to sustain themselves and their family needs throughout their lives (Benson, Blendon, Brodie, & Wainess, 1998, pp. 3-9).
As research studies show, although majority of the elderly Americans get more than fifty percent of their funds from their social security funds, as compared to private and capital investments, earnings from this program are far much below amount that individual should get from their savings.
Further, unlike other saving schemes that leave an individual with the freedom of deciding how much to invest for their future, social security being government-controlled program gives the government the power of deciding the amount of tax citizens should pay, with little consideration of their socioeconomic status.
Considering this, it is important for individuals to analyze critically their future retirement needs, adopt good saving plans immediately the start working, because of the numerous uncertainties in one’s life (Tanner, 2000, pp. 1-6).
In addition to the numerous flaws of the social security program and uncertainties that may occur in one’s life, the ever-improving quality of life sustaining opportunities have put many individuals to the longevity risk. Due to this risk, most traditional retirement saving methodologies do not offer the required confidence of a bright future after retirement.
As research studies show, although still some employers have maintained the traditional methods of saving for retirement and giving of retirement funds, new methodologies have come into practice, for example, the cash balance from of plans. Yes, although these forms offer employers an opportunity of getting their savings in lump some amounts, economically, this a risky method, as it places the entire role of saving and managing retirement benefits to workers.
It is important for individuals to note here that, although individuals may have enough to save for retirement, majority of individuals underestimate their life expectancy; hence, unless one adopts a good saving plan during their working times, likelihoods of only social security funds supporting their retirement needs are low.
This is the case primarily because; the more an individual lives the more their health, basic, and other life sustaining needs increase. At this point, some individual may argue that, Medicare or Long-term Care Insurance (LTCI) can cater for their retirement needs.
Although this might be the case, most individual never consider the costliness of these programs, because after retiring there is no employer-based support that can cater for any deficits. Therefore, to avoid any resource deficits, it is important fro individual to save in plans that can guarantee them that; they will receive continuous income, necessary to cater for the numerous old age needs, when many sources of income hardly exist (Actuarial Foundation, 2010, pp. 47-50).
Conclusion
In conclusion, considering the numerous hitches that the social security program faces in providing individuals with all their old age needs, and the fact that, majority of elderly individuals hardly have any other source of income apart from their savings, it is important for individual to save in real investments. Such should be the case right from the time one joins the job field, because many economic, health, and social uncertainties can make individuals loose of or drop out of their jobs; hence, putting their future at stake.
Reference List
Actuarial Foundation. (2010). getting ready: what you need to know about annuities. Web.
Benson, M. J., Blendon, R. J., Brodie, M., & Wainess, F. (1998). America in denial: the public’s view of the future of social security. The Brookings Review. Web.
The issue of poverty is a never ending topic of discussion all over the world. This is even true in a supposedly rich country like the United States of America. This is my observation as I scan the daily newspapers, watch the six o’clock news and listen to my neighbors when they have nothing else to do but talk about life and politics.
It is very important topic of discussion because poverty is something that many of us would not want to experience. At the same time when we talk about poverty we also talk about the other side of the coin, which is, riches and comfort.
People from all walks of life, from the high and mighty to the poorest of the poor are affected by impact of extravagant wealth and staggering poverty. Economists, politicians, diplomats, entrepreneurs, employees, speculators, scholars, and even blue collar workers never cease to talk about poverty. However, there is no agreement when it comes to the root cause of these problems. It must be pointed out that poverty is caused by inequality.
Poverty and inequality go hand-in-hand and in order to eradicate poverty then we need to deal with inequality. Now, here is the problem, I find it difficult to simplify inequality. For example a poor person in the United States is better-off if compared to someone who struggles in a Third-World country. Inequality on the other hand is the same tricky problem. Minorities are citizens of this country but sometimes they feel as if they are second-class citizens and unable to access to resources that are open most Americans.
In order to simplify the discussion I would like to focus on some of the aspects of inequality that is familiar to me. Therefore, I would like to focus on social mobility, access to health care, the right to education, and the right to eat nutritious food.
In my opinion it does not matter where you live in the world, whether you are a European living in the trendiest cities or a citizen of Third-World country living in squalor, if you do not have access to the things that I mentioned above then you have experienced inequality and if you look around you the presence of inequality in society is the root cause of poverty.
In the January 22nd issue of The Economist for 2011, there is an article entitled the Inequality: The Rich and the Rest and the author said that inequality exists because of the lack of social mobility (The Economist, 2011, p.1).This is true but there is a need to elaborate on the issue of social mobility.
Thus, the lack of social mobility is the existence of social obstacles that prevent a person from getting the best job etc. I believe in this statement and I should say that the focus should be on quality education. In a progressive country like America the door swings wide open for college graduates. If the percentage of young men and women who can afford to go to college will significantly increase then there will be less inequality in this nation.
One of the main focuses of the Davos meeting is the growing gap between the rich and the poor. It insists that the widening gap is a global risk for the global economy (Koss & McArthur, 2011, p.1).
However, there is no consensus on how to solve this problem. Different leaders have different opinion on how to deal with inequality. Warren Buffet for instance made the suggestion that the rich need to be taxed more. Mr. Hu Jin Tao of China on the other hand wanted to focus on creating “harmonious society” by reducing the income gap between urban and rural families.
These are good ideas however, there is this article about poverty that made me realize that although it is perfectly alright to talk about this issue the fact of the matter is there are many people who are poor. According to the said article, “Almost half the world – over 3 billion people – live on less than $2.50 a day” (Shah, p.1). The ideas given by world leaders will help but something has to be done at the earlies possible time.
As mentioned earlier inequality exists because of the lack of social mobility, lack of education, non-access to health care, and the inability to buy nutritious food. This article provides the explanation why. There income levels are low in many countries. According to a report from Stanford University inequality exists everywhere.
There is even no need to travel beyond the borders of the United States because in this country “the top 1% of Americans control 23.5% of all the country’s income” (The Stanford Center for the Study of Poverty and Inequality, p.1). This is why increasing income inequality must be addressed soon.
Finally, inequality exists because the poor can no longer afford nutritious food. This means that they are prone to sickness and diseases, malnutrition and other related problems. If poverty can be addressed by dealing with inequality then how can poor families improve their standard of living if they cannot even eat a simple meal?
It is true that a wide income gap is the root cause of inequality and that inequality is the root cause of poverty. In the beginning of this discussion it was not clear how I can understand the real problem pertaining to poverty. But as I went through the various information and data with regards to poverty a clear link between poverty, inequality, and income was made.
The problem about poverty is urgent. But global leaders are not in agreement on the things that they need to accomplish to combat poverty and its effects. I believe that they should focus on the issue of inequality when it comes to income levels. They must try to understand how they can set things right. Good jobs must be provided and this is only possible if there is a government that can regulate these changes.
Conclusion
One of the best ways to deal with poverty is the creation of jobs, the rise of entrepreneurs who will provide jobs, the establishment of a prudent and reliable government to sustain the changes made. It by narrowing the gap between the rich and the poor that one can effectively deal with inequality.
If inequality is addressed then the poor will now have access to education, health care, and nutritious food. If the poor will have access to these things then it means that they can compete with the rest. They will have a chance to turn their lives around. But as long as inequality exists there is no way for them to break free from the bondage of poverty.
Every year, thousands of young people come to America to seek higher education. Some of these kids happen to rich, meaning their parents can afford to provide everything they need, even learning in the best institutions in the world. It is no doubt these kids find themselves in a different environment all together. In America where freedom of speech is as common as air itself, the rich kids often find themselves under scrutiny from the way they behave to the way they dress and even the way they talk.
Many people, from the broad sense, assume that rich kids are spoilt and they literally know nothing about life and surviving. Others consider them stupid, and they try to form friendship hoping to benefit financially or improve their image. Others completely ignore them all together, since they feel that there is no way they can understand each other because of different social class.
For rich kids, life is not a smooth sail, especially in America. They were sent here to excel and also make their parents proud. This puts them under a lot of pressure, and that is a difficult job especially if they do not have the same life ambitions as their parents had.
Many people think that life for them is easy, but from the pressure they receive while trying to fit in another, culture which is different from theirs, it becomes quite a struggle. They sometimes become isolated and to them they feel as if they are alone in this world, they feel as if they are the only child in the world. This is quite literal if the child is from China since their government regulates the number of children per couple.
The thesis of this paper is; life as a foreign rich kid in an American school is difficult in many aspects compared to native kids of any social class. This is true to some extent. The kind of life they will have in America most importantly depends on their personality and how much they are focused on their goals. It is possible for a rich kid not to be seen as spoilt, it is also possible for them to be seen as hardworking and important in the society. All that will depend on how they choose friends and how they regard others.
Am afraid though that in most cases, rich kids are spoilt and most of them do not end up making it in life on their own. Living in a life one gets almost everything he wants is not ideal when preparing one to face life. In this case, both the parent and the child are to be blamed. The by standers who watch and criticize are to be blamed too, but to some small extent. I mean whether you become successful or not people will always have something positive and negative to say.
Chi Hu is a student in Yale University, and he has been living with his uncle since he moved to America to attain his master’s degree in economics. When he left his parents in china, he promised to work hard and become as successful as they were. Whenever chi wants something he gets it since his father can afford almost anything that can be bought with money.
Everyday he is driven to school in a Bentley by his personal driver; he does not do housework since he has a Chinese maid to do all the house chores. Back in china, his father owns a big insurance company. It has been planned that once Chi finishes his master’s degree, he will start managing the company and one day, he will take over the company.
Many young men and women would desire to be like Chi. Conversely, Chi is fed up with his lifestyle since everything is planned out for him and everything is predictable. The situation becomes more complicated since he is not very fond of the business and insurance world.
As a way off adding spice to his life, he has tried to join sports teams only to be told by the coaches that he does not have what it takes. When other students are walking in the university compound, they all seem happy except for him, he feels like he is the only student of his type. Would you still want to be in chi’s shoes?
For chi and others like him, freedom from their parents and being treated like a normal student by his peers is the most important thing in his life. Parents of people like chi probably worked hard and went through a lot to build big businesses. It is understandable that they would want to provide the best for their children so that they do not struggle as much as they did.
As a result, they tend to be to be over protecting and keen on everything single thing their children do. Rich kids eventually end up having almost everything the other kids only wish for. Jealousy is bound to rise between the rich kids and their friends. Since they do not do much work, they will be considered lazy and irresponsible.
This discrimination of the rich has been there as long as humans have inhibited the earth. The Bible, one of the oldest books still present, has a verse saying that it is easier for a camel to pass through a needle’s eye than for a rich man to get to heaven. It is obvious that the rich have been seen as unrighteous for a very long time. Even in 21st century the same perception is even more present since the gap between the rich and the poor is wider than ever.
When Chi realized that he does not have a life of his own, he decided to prove to his parents and himself and probably his peers that he can survive without his parent’s wealth. He moved out of his uncle’s resident and rented a small apartment near his university. Since he was a good cook, he got a job in a local restaurant to be working between 11pm to 3am. This meant he had to spend four hours at night every day 6 days in a week.
It turned out to be the most difficult thing he has ever experienced. To make it worse, some of his classmates used to eat at that restaurant and at one time they made a big mockery of his food. His job only took care of his everyday spending and he had no extra money to be going out and having fun. When the exams neared, he could no longer handle the pressure, so he went back to his uncle’s.
We can see clearly that Chi was not lazy. He did his best to provide for himself but it was not good enough. Sadly though not all foreign rich kids are like Chi. Most of them can hardly imagine a situation where they provide for themselves. The idea that a primary school kid in Senegal is the sole provider of his family is hard to digest. Recently, trends have changed; most rich kids like Chi have come to realize that working for what they desire is more self fulfilling.
One time, 21 year old Billy who hails from an average American middle class, said that almost all rich kids in colleges, got in through some dubious means; not by merit. Their parents have connections with the school authorities and they use money and intimidation to get their kids in the best colleges. To some extent he is right, one research did by the Educational testing services found out more than half of rich kids, who were mostly white, had failed to qualify to join their respective colleges.
This means some other kids who deserved those positions missed out. Billy is not the only one who feels offended by the ways of the rich; Chaz an African American friend of mine shared what he thought with me. He said the recession episodes that are now common are not caused by the poor people, it is the rich.
It seems that some people do have some strong negative feelings against the rich kids. After looking carefully on why some kids hate the rich one; it is all about the attitude they have. What most people hate is how they feel about themselves. The feeling of being on top of the world and that they can get away with anything is what is disliked. Others do not hate the rich kids, but their parents. They dislike how the parents offer them freedom and anything they want.
It is apparent that the rich kids, especially those who are not accustomed to American lifestyle, are not the favorites when it comes to making friendships. Who is to be blamed for the kind of life they live, is it their parents, the society or just themselves? In one way or the other all are to be blamed.
It is no doubt the way parents bring up their children, influence the type of people they will be in future. Whether they will turn out to be arrogant, obedient or responsible, their parents must have had a role in it. Ideally parents should expose their children to what life is all about; both the ugly and the beautiful side.
Parents should teach their children that they cannot have everything they want in life. What makes it even harder for foreign rich kids is their custom. Children born in rich families in China are treated and regarded as kings and masters. When they come to America, all that treatment disappears when they go to school. They find it difficult to comprehend why they are just like any other person and mostly worse.
There maybe a lot of excuses as to why the rich kids behave the way they do, but the bottom line is that they are usually not happy when isolated. The good news is that the rich kid only needs himself to be accepted by others. By changing his attitude towards others and respecting people from all walks of life will make him not be the only child, but be among many children.
The purpose of carrying out this research was to determine the gap between house ownership among the rich and the poor. Factors that could have led to the identified gap were to be established and measures against these negative factors put in place. This was to ensure that all individuals in the various states especially in the urban centers have access to homes. This was also aimed at boosting trading activities in market centers as new consumers are made available to new suppliers thus intensifying the suppliers’ activities.
The information that will be received from you will be handled in secrecy. Unconcerned individuals will not be allowed to access the information that you will have submitted.
The questions that you will deem sensitive may be left out. The information will be analyzed within the shortest period possible and results given.
By submitting the questionnaire, you will have confirmed consent to your information.
Lastly, I would like to pass my sincere gratitude to all of you that have participated, since without you, the project could not have been successful.
Current Issues in Finance
Throughout these modern periods, there has been a propensity of an augment in the efforts by various governments all over the world to provide opportunities for common individuals to own homes. Conversely, stiff competition has been noticed in the housing finance market with regard to innovative suppliers being heartened to venture into the market. The new suppliers were in quest for new purchasers for the purpose of extension of their various activities.
Consequently, the intensification of housing facilities is a profitable rejoinder to the market conditions. In the United States, the percentage number of individuals who own houses is approximated to be 63 percent. 52 percent being for the rich while 11 percent being for the poor. Generally, in developed countries the cost of a dwelling can often be 2.5 to 6 times the average annual salary.
Therefore this research paper seeks to explain the existence of a gap in terms of home ownership between the rich and the ordinary individuals (Balfour and Smith, 1996).
During the project, the identification of the ideal method of collecting data aims at achieving the most precise and accurate information regarding the gap that has subsisted between the common people and the rich. In this case, quantitative methods of data collection were employed. To begin with, interviewing was used.
This method of data collection gives the participants the opportunity to offer affluent and appropriate descriptions. In addition to that, the method is quick and also depends at large on the skill of the interviewer. The interviewers were not only approached individually but also in groups. Resident persons at market places were approached.
Questionnaires were also employed in collection of the data. The use of questionnaires availed the opportunity to obtain the feedback from a vast number of individuals within the very shortest time. Structured questionnaires developed offered a measure of respondents’ judgments, outlooks, sentiments, and discernments about the subsisting gap between the poor people and the rich persons.
Target Audience
The research targeted the individuals of the high class standard of living as well as individuals of the lower class standard of living. However, individuals from the middle class families were not largely interviewed. The study of individuals from the middle class was avoided for the purpose of attaining accuracy. However, if information from the middle class individuals could have been collected, then bias could have been realized. In analyzing the data, the survey also entailed the study from four countries.
This included the United States of America, Zambia, Singapore and Ghana. The study also included interviewing individuals from the housing finance market. These persons provided information on the rates of competition for housing facilities among the rich. Thus houses are only affordable by the rich. There was need for researching the number of individuals who owned houses in the past and then the number compared to individuals in the present.
Requested Information
The intention for carrying out the study was to establish whether the gap of owning houses between the rich and poor has declined or augmented. If the housing facilities gap could have augmented, then the factors behind this conclusion were to be established. Basing on the governments efforts to alleviate homelessness in the various countries, there was need for the identification of any contributions made by the states towards this task. If the contribution was none, then the government was to double its efforts in alleviating homelessness.
Questionnaire Used
Do you own a home?
If no, have you made some efforts to have one?
How do you compare the ownership of mortgages in the past and the modern times?
What were some factors that pulled you back in your efforts to own a home?
How has owning a home affected or boosted your business activities?
How did you go about getting rid of the factors that hindered you from owning a home?
Has the government made any moves to help you in solving part of the challenges that hindered your efforts of owning a home?
How has lack of a home affected your business activities on the market?
If all challenges are met, can you be really sure of owning a home at a favorable and comfortable place?
What is the price of a house you can afford if houses are availed to you?
What is your expectation of the cost of mortgages?
Works Cited
Balfour, D. & Janet S. “Transforming Lease-purchase Housing Programs for Low-income Families: Towards Empowerment and Engagement.” Journal of Urban Affairs, 18(1996): 173-189. Print.
Unequal wealth distribution is a concept that is evident in many countries. People either have too much or too little resources that are required to fulfill their human needs. In most cases, people are regarded as being in the middle class.
The poor have limited access to goods and services due to inadequate funds, while the rich have a greater reach to these scarce resources. The rich sometimes take for granted what they have. They abuse their wealth and power to oppress the poor. Then again, some have been brought up in families that were not so well off. Hence they have learned to appreciate what they have.
The book, ‘Mountains beyond mountains’ shows the unending quest by a doctor called Farmer to save people challenged with poverty. He is indeed a doctor to be emulated as he is devoted in his work to save lives. He works unceasingly even in cases that seem hopeless. He was brought up in a family that belonged to the middle class. In this book, there is an illustration of the benefits the poor get from the rich. The farmer was a doctor who dedicated his time, service and income to the community he lived in.
He lived among the Haitians, who were not well off. He had a vocation to serve these people and even in situations that seemed desperate, he did not give up. In one case for instance, when a patient did not come for a refill for his tuberculosis treatment, Farmer went out to look for that patient. This shows is an outstanding example of dedication. Not many doctors go out of their way to ensure that a patient follows up on medication; most of the time they are too busy.
In this instance, the doctor, who was himself moderately rich made an impact on the lives of the people in Haiti. He made things that seemed impossible, possible. In one case, there was a boy who had a rare cancer of the respiratory system; nasopharyngeal carcinoma. The farmer did his utmost best to secure an oncologist who diagnosed the boy. His trouble did not end there because the boy could not be treated in Haiti. This is due to poor health facilities and there was the risk of certain death if he did not receive specialized treatment.
Farmer secured transport for the boy and a facility in Boston that agreed to treat the boy for free (Kidder 37). This shows that the doctor extends personalized care to his patients. ‘Farmer curls right on the bed to the point that Kidder thinks he’s going to climb in with the man. He is very close and personal with the guy to show how much he cares’ (Kidder 86).
This is a rare incidence where a doctor does not give up in the face of challenges. Most doctors would just give the patient time to bid their loved ones goodbye and give them palliative care. Farmer is not a typical doctor. This is a classic case of the rich helping the poor.
This shows that the underprivileged have poor access to health care. If a doctor is truly dedicated to his work, he will not be discouraged by lack of funds or facilities. Doctors should safeguard the wellbeing of their patients. The widespread poverty in Haiti did not discourage Farmer; he instead strived harder to serve those that were underprivileged. In this case, the poverty situation in Haiti served to motivate Farmer to make a difference.
Morality has been side-stepped in the advancements that have been made in medicine. For instance, in the past people were conservative and they were wary of the various communicable diseases associated with immorality. In the past, diseases like syphilis were discussed behind closed doors. People infected with the disease would be viewed as if they are sitting on a ticking time bomb. This, therefore, made people more careful to the extent of being faithful to one partner.
One of the biggest obstacles that have been overcome in the world of medicine is the ability to deal with HIV/AIDs. First of all, post-exposure prophylaxis has been made available and so when one suspects they have been exposed; they get started on these drugs to ensure they do not contract the disease.
Secondly, people having a disease can live normal lives. The Highly Active Antiretroviral Therapy (HAART) has been used to help control the progress of the disease. It boosts the CD4 cells and so ensures that a person’s immunity is not compromised.
With these advancements, people have become laxer with their morals. People no longer worry too much when they contract a disease because they are assured that treatment is available.
HIV rates have been proved to be higher among the poor. This is due to various factors such as lack of knowledge on ways to prevent contracting the disease. Some of them are not aware of the existence of the disease. It is sad to know that some are pushed into activities, such as prostitution, that put them at risk of infection due to poverty.
In the third world countries, some communities have beliefs that are detrimental to the health of others. For instance, in the western communities of Kenya, there was the belief that when one sleeps with a virgin, they are cured of HIV infection. Of course, this is not so and such individuals only spread the disease to others.
Multiple drug-resistant tuberculosis is becoming a major problem worldwide. The resistant strains are mainly noted among the poor. Resistance comes about secondary to absconding of treatment. Incomplete treatment of this bacteria leads to the development of resistance. Among the poor, the rate of defaulting treatment is higher because; sometimes they cannot access the full course of treatment. They also report feeling better after a while, and they; therefore, do not complete treatment.
The burden of treating the drug-resistant tuberculosis is becoming a bigger burden, especially among the HIV infected patients. This has become a bigger challenge especially in those who are concomitantly infected with HIV (MDR-TB common in people living with HIV 2011). ‘They have dealt with six cases all of which are somewhat of a puzzle, until the last patient who they are concerned may have TB as a result of being HIV positive’ (Kidder 104).
The therapy for treating such resistant strains of bacteria is also more expensive than the non-resistant counterpart. If not managed, the bacteria can go on to become an extremely resistant strain that is harder and more expensive to treat. If such bacteria became widespread, it would pose a calamity to the world at large (Tuberculosis 2011).
Interdependence is unavoidable between the rich and the poor, the rich need the poor to work for them. In most cases, the rich provide job opportunities while the poor provide the services. This shows an interdependent relationship between the two. One cannot function without the other (The Rich Get Substitution Effects and the Poor Get Income Effects 2011).
In the modern world, the Catholic Church is advocating for people to develop preferential treatment towards the poor and those in underprivileged situations. This is because such people cannot speak for themselves. They are not provided with a forum in which they can speak out (CST-Preferential treatment 2011). After this, his understanding of Catholicism changed radically when he saw Catholic prelates preaching against the oppression of the poor rather than the perils of premarital sex (Kidder 87).
The general population is requested to empathize with those that are less privileged, and if they are in a position to make their life better, they should act. Humanity calls out to all to be compassionate and help those that are in need (Gyatzo and Dalai Lama 2011).
Conclusion
In general, wealth is poorly distributed in the world; consequently, the rich and the poor have developed interdependence. It is a calling to all able people to help the underprivileged in whatever way one can. Farmer, the doctor is of admirable character because he believes that patients are there to be treated, and it is his duty to ensure that they get better.
Works Cited
CST-The Preferential Option for the Poor and Vulnerable: Center for Social Concerns. University of Notre Dame. Web.
Gyatzo, Tenzin, and H.H. the XIVth Dalai Lama. Human Rights, Democracy and Freedom | The Office of His Holiness The Dalai Lama. His Holiness the 14th Dalai Lama | The Office of His Holiness The Dalai Lama. Web.
The income difference between the poor and the rich has been widening despite measures that have been put in place by the government to reduce it. The government has used progressive taxation as a way of transferring wealth from the rich to the poor, but this strategy has yielded minimal fruits. Most of this wealth that is taken from the rich rarely reaches the poor because of the corrupt system that makes this money flow back to the rich.
The government should consider using other approaches to minimize this gap and to fight absolute poverty. Education is one of the strategies that have been confirmed to be effective in minimizing the gap between the poor and the rich. Other strategies include empowering women and fighting negative ethnicity that hinders development. These strategies can help the government reduce this gap in a more natural way than using direct financial strategies.
Introduction
The gap between the rich and the poor has raised a lot of concern among various stakeholders in the United States of America. Recent statistics show that the gap between the rich and the poor is on the steady rise despite some of the government programs that have been put up to fight it. According to Page and Jacobs (2009), various stakeholders have been debating whether the government should step in with measures that would help fight this income difference between the poor and the rich.
Others have supported the need to have government intervention as a way of improving the human development index in this country and fighting criminal acts such as robbery and other related vices. However, other members of society have strongly rejected this move citing numerous loopholes in the current programs that are meant to fight this gap.
Capitalism has become the predominant ideology in many countries around the world, including the previous crusaders of communism such as China and Russia. In the United States, this ideology has defined the lifestyle of individual citizens. The rich are using their riches to generate more income as the poor languish in poverty. Programs that have been set up by the government such as progressive taxation have done very little to reduce the gap between the rich and the poor. Some members of the society have urged the government to come up with stronger measures that would help transfer money from the ultra-rich members of the society to the poor (Page & Jacobs, 2009).
In this research, the focus is to determine how the income gap (dependent variable) can be fought using such virtues as education, gender equality, and racial tolerance (independent variables) in American society. The paper seeks to analyze whether there is a need for the government to do more to narrow the gap between the rich and the poor.
Literature review
Education
Education has been considered as one of the main ways through which the gap between the rich and the poor can be eliminated. According to Jarman (2012), education has proven to be the best way through which the poor can climb the social ladder. This scholar says that the importance of education has been demonstrated in the twenty-first century where firms are forced to hire qualified personnel in various positions in their firms. The era where a manager would hire a relative for the sake of giving him or her a favor is long gone. Firms now have to go for competent individuals who can deliver good results on their respective assignments.
The need to remain competitive in the market is forcing firms to pay their skilled labor generously as a way of retaining them within the firm. This means that the best way through which the United States’ government can reduce the gap between the poor and the rich is by educating all members of society. The poor may find education to be very expensive. The rich have realized the benefits of education, and they are giving their children the best education within the country so that their wealth can be retained, and the gap maintained or even widened. However, with the equal provision of education to all members of society, the government will be making the right step towards fighting inequality (Jarman, 2012).
Gender
The issue of gender has raised a lot of heated debate, especially the need to empower women in the corporate world. According to Taylor-Robinson (2010), the society had been used to having women relegated to caregivers at home, always depending on men for all their needs. This is no longer the case in this century. Society has come to embrace women empowerment, especially through formal education. Just as their male counterparts, women are now getting a decent education. This has seen an increased number of women in the employment sector. Empowering women helps in fighting the gap between the poor and the rich.
As Taylor-Robinson (2010) says, the essence of fighting this gap does not emanate from the need to reduce the wealth of the rich. It is an attempt to eliminate absolute poverty in society and make it possible for all members of society to be able to afford basic needs in life. It is an effort that is focused on ensuring that the poor can also afford decent meals, proper housing, decent clothing, and have access to quality healthcare.
By empowering women, it means that American families will have more than one source of income. Both partners will be working together to ensure that they can provide the basics to their families. It would result in more income as compared to cases where women are forced to depend on their husbands. It will help in fighting income disparity to a given percentage, even if this percentage will be minimal. It will help in fighting absolute poverty in this country.
Race/Ethnicity
Negative ethnicity has played a role in widening the income gap between the rich and the poor. According to Dumanio (2010), American society experienced a long period of racial discrimination soon after gaining independence. When slavery was abolished, the Black slaves were absorbed as citizens of this country. However, American society did not accept the Blacks as equal citizens of this nation. They could not access quality education as Whites. A few who managed to get higher learning education could not get good jobs as their White counterparts. They were always relegated to slums where living conditions were pathetic.
This happened for several centuries until recently, when society came to appreciate the equality of all members of society. Because of this, the income gap between the Whites and the Blacks widened. Other races such as the Indians also suffered during this period of racial discrimination, and this created some form of the income gap between them and the whites that still exists. This means that to fight this income gap, society must find a way of dealing with the negative ethnicity that is currently witnessed in this country.
According to Dumanio (2010), negative ethnicity that was very common in the United States one century ago is slowly dying down. However, its effects are still being felt in this country in various ways. For instance, some of the largest slums in this country are still dominated by Blacks. On the other hand, the richest states in this country, such as Maryland have Whites as the dominating population. Some of the worst facilitated schools, hospitals, and other social amenities are common in regions dominated by Blacks. Juvenile delinquency is highest among the Blacks meaning, that some of them rarely complete their education. This helps in maintaining the vicious cycle of poverty among this race.
The above literature demonstrates that one of the ways through which the income gap between the poor and rich can be eliminated is through fighting negative ethnicity in society. Although racial discrimination has become a rare incident, some employers are still reluctant to hire Blacks. When offered the opportunity of choosing either a Black or a White who has similar qualifications, they would choose a White. This mentality should be stopped in society. It will help fight the widening gap between the rich and the poor.
Hypotheses
Research hypotheses are always very important in forecasting the possible outcome of the research. According to Gilbert (2008), hypotheses may be developed based on the findings from the review of the literature as a way of helping the researcher determine the possible results of the research. In this research, it was important to develop hypotheses based on the findings of the literature review. The researcher will seek to confirm these hypotheses through a successful analysis of data. The following are the guiding hypotheses developed for this research.
H1o. Education does not play an important role in fighting the gap between the poor and the rich.
The above null hypothesis is developed to help confirm the fact that education is one of the most appropriate ways of fighting the gap between the poor and the rich in this society. The researcher seeks to reject this null hypothesis upon the successful completion of data analysis by confirming the alternative hypothesis below.
H1a. Education plays an important role in fighting the gap between the poor and the rich.
By confirming the above null hypothesis, the researcher will be confirming that education is one of the policies that the government should rely on when fighting the gap between the poor and the rich. It is one of the most appropriate ways of fighting absolute poverty in this country.
The following second hypothesis focuses on the role of gender in fighting absolute poverty and the widening gap between the poor and the rich.
H2o. Women do not play any significant role in the fight against absolute poverty and the elimination of the gap between the poor and the rich.
The researcher seeks to reject this null hypothesis upon the successful analysis of data. Various scholarly articles have confirmed that women play a significant role in the fight against absolute poverty, especially if they are given the necessary education. The researcher will, therefore, be seeking to accept the alternative hypothesis to the one above, which states as follows.
H2o. Women play a significant role in the fight against absolute poverty and the elimination of the gap between the poor and the rich.
When this hypothesis is accepted, then it is an important policy recommended to the government as a way of fighting poverty. It is a fact that women have held various high-ranking positions in the government in this country, and their performance has been considered above average. This makes it very likely that this alternative hypothesis will be confirmed.
The third hypothesis was based on the third variable in this research, which is on culture. The review of the literature confirmed that culture plays a very important role in determining the living standards of people.
H3o. Negative ethnicity and racial discrimination are not to blame for the increase in the gap between the rich and the poor in the United States.
Researchers have claimed that one of the main reasons that have helped in widening the gap between the poor and the rich is negative ethnicity. Scholars have noted that long years of negative ethnicity experienced in this country have made some races poorer while other races are given a better opportunity to get economically empowered. The researcher seeks to reject the above null hypothesis by accepting the alternative hypothesis below.
H3o. Negative ethnicity and racial discrimination are to blame for the increase in the gap between the rich and the poor in the United States.
This third hypothesis will be recommending the need to fight any form of racial discrimination in this society that has inhibited economic growth among a section of the society members. These three hypotheses will form the basis of this research.
Methodology
Every research project employs a given research method to obtain the desired results based on the available resources (Bryman, 2012). In this study, stratified sampling was considered as the most appropriate method of selecting the sample population. The researcher will then make a generalization of the entire population based on the results from the sampled population. This research will take a quantitative form. It is important to note that all the data that will be used in this research will come from sources within this country.
Data Collection
Data will be collected from a sampled population described in the section below. The researcher will use questionnaires to capture important questions that would help in the collection of relevant data. The researcher will send the questionnaires through e-mail to the sampled population and inform them through the phone of the sent questionnaires. The questionnaires will be received back through the same channel for analysis.
The participants
The research will use 15 respondents to participate in this research. The researcher will select the sample population through a stratified sampling method. It means that the researcher will first identify different strata that can give authoritative information about the need for the government to step in and reduce the inequality between the poor and the rich. In each stratum, the researcher will use random sampling to select participants. In case the selected individual turns down the request, the next candidate will be chosen in the same category. Most of the respondents will be academicians or administrators who are directly involved in this field.
Research questions
It is always important to have research questions clearly defined to guide the researcher when collecting the relevant data, and when analyzing it. The following research questions were used to guide this research.
Should the government reduce the income differences between the rich and the poor?
What are some of the best approaches that can be used to fight this difference?
What are some of the benefits that this country shall gain by fighting the difference?
Data analysis
This research will use descriptive statistics in analyzing the data. This will make it possible to understand the demographics of the respondents, their views, and some of the background information that could have guided their response. This makes it possible to determine if the responses given are biased in any way due to the beliefs held by the respondents. The approach will also make it possible to determine the percentage population of those sharing different views on the questions posed to them. The analysis will culminate in confirmation or rejection of the set hypothesis. It is also expected that the analysis will provide answers to the research questions.
Discussion
It is clear from the review of literature above that the income gap between the rich and the poor is constantly on the rise. The United States federal government has tried coming up with various policies to reduce this gap, but the result has remained unsatisfactory. Most of the finances collected through such initiative as progressive taxation find their way back to the rich (Jarman, 2012). Such incentives are also considered as impractical in a capitalistic state like this.
Any initiative that may attempt to take wealth directly from the rich to the poor may be considered to foster communism that the United States has been fighting for a very long time. It means that other initiatives should be used to minimize the income gap between the rich and the poor in this society.
Education has been considered as one of the variables that can be used by the government to fight the rising gap between the rich and the poor. Through education, children from poor families and those from rich families are offered equal grounds to develop in life (Jarman, 2012). They are allowed to develop skills, which will enable them to earn a fair income that can help fight the gap. Empowering women is another way to fight the income gap between the rich and the poor.
When both parents are involved in providing for the family, the amount of income shall be increased. This helps in fighting absolute poverty in these families. Finally, it is important to fight any form of negative ethnicity in this society. All races and ethnic groups should be considered as being equal. They should be given equal opportunities. Such practices as those that discourage girl-child education should be fought.
Conclusion
The debate on whether the federal government in the United States should come in with stronger measures to fight the income gap between the rich and the poor has been raging on for some time. Some people believe that in this capitalistic state, the government can do very little to fight this gap. The opponents of this move have cited progressive taxation in this country, which was meant to protect the poor. However, most of the beneficiaries of this system are not the poor. The advocates of this initiative have argued that the United States’ government is not doing enough to fight the income gap between the rich and the poor that has been on the rise.
The government should consider using other approaches, such as making education available to all members of society. It will help in empowering children of the poor and the rich in equal measures. Another approach can be empowering women to ensure that both men and women participate in generating income for the families. The government can also consider fighting racial discrimination or any form of negative ethnicity that could be taking place within this country.
References
Bryman, A. (2012). Social research methods. Oxford: Oxford University Press.
Dumanio, G. (2010). Racial discrimination in American society and its effects. New York: Cengage.
Gilbert, G. (2008). Rich and poor in America: A reference handbook. Santa Barbara: ABC-CLIO.
Jarman, M. (2012). Rich world, poor world. North Mankato: Smart Apple Media.
Page, B. I., & Jacobs, L. R. (2009). Class war: What Americans really think about economic inequality. Chicago: University of Chicago Press.
Taylor-Robinson, M. M. (2010). Do the poor count? Democratic institutions and accountability in a context of poverty. New York: Cengage.
“Poor No More” is a documentary that sheds light on the real lives of those struggling with poverty in Canada. Through the stories of individuals living below the poverty line, the film highlights the systemic issues that trap people in a cycle of poverty, as well as the hope and resilience of those fighting to make changes. Walsh does an excellent task of shining a spotlight on this often invisible issue, and her compassion and respect for those affected by poverty come through clearly. This is an important film that everyone should watch in order to better understand the everyday reality for far too many Canadians. Through a series of interviews with low-income earners, professionals, and economists on the issue, Walsh highlights the challenges facing those who live in poverty, such as poor work and living conditions. The film outlines that society must do more to help those who are struggling, especially through workers’ unions. This is not only an issue of fairness but of fundamental human dignity.
The film’s overall message is that poverty is unnecessary and that it can be eradicated through collective action. It effectively communicates this message by featuring powerful stories of people who have overcome poverty. The film also features interviews with experts who explain the root causes of poverty and how they can be addressed (Walsh, 00:19:22). Overall, the film is very effective in communicating its message that poverty can be eradicated through collective action.
The part of the documentary that had the biggest impact on me was when the workers came together to form a union. This is because workers are humans who also need to be treated or handled with care, and this is morally acceptable. The film highlights the important role that unions play in ensuring that employees are treated fairly and respectfully (Walsh, 00:40:14). Without unions, workers would have little to no protection against exploitation by their employers. The most important message is the role that Canadian society plays in perpetuating poverty. Through case studies and interviews with experts, the film highlights how the economic safety net fails to lift people out of poverty as big corporations evade paying taxes (Walsh, 00:20:00). There is one way in which my personal problems as a future Electronics and Communication Engineer (ECE) could be influenced by the social problems raised in the film. Watching the film makes me feel demotivated to pursue my career due to the poor payments and working conditions displayed in the film.
The role of employees’ welfare is to ensure that employees are treated fairly and have access to the basic needs required for healthy and productive work life. In the film, most of the employees prefer suffering with their families because the employees’ welfare groups are giving little help, which they again deduct when a person secures a job (Walsh, 00:12:49). Many times, the lowly paid workers opt for welfare aid, but it is never sufficient even to pay rent, and as a result, these employees get evicted by their landlords.
There are employees’ welfare organizations in Canada that were recently formed to better workers living conditions. They include Unifor, the Canadian Union of Public Employees (CUPE), the United Steelworkers (USW), and the Communications, Energy, and Paper workers Union of Canada (CEP) (Savage, 2020). Each union has its own unique history, culture, and focus. However, they all commit to improving working people’s lives through collective bargaining and social activism. From the week 6 lesson, it is presented that in 2008 top 100 chief executive officers made 175 times more than ordinary Canadians. Therefore, these welfare unions have been working towards ensuring equality so that ordinary employees could be paid better salaries. On the other hand, in week 7, under poverty entry and exit rates, the lesson presents that 4.1% of Canadians entered while 27.5% exited poverty between 2014 and 2015. From the presented figures, it is true that these workers’ unions have worked hard to uplift workers from poverty.
The lowly-paid employees are the group that has been especially hard hit by neoliberal policies. As the documentary points out, these policies have often led to stagnating, or declining wages, increased precarity and insecurity, and growing inequality. The constricting of social safety nets has also contributed to increased poverty rates. Necessary prerequisite conditions for a purely neoliberal global order include deregulation (of both labor markets and economies), reduction in government spending on social welfare programs, and privatization of public services.
From the week 6 lesson, the principle of increasing the minimum wage is one of the best ways to solve the increasing inequalities in Canada. Raising the minimum wage will help to decrease income inequality in Canada as it will ensure that all workers are earning a livable wage. This will help to reduce the number of people living in poverty, which is a major contributor to income inequality. Additionally, increasing the minimum wage will stimulate the economy as low-income earners will have more money to spend on goods and services. The main benefit of increasing the minimum wage in Canada is that it enables lowly paid Canadians to afford better living conditions. This, in turn, aids in reducing income inequality and promotes a more equitable society.
Wealthy corporations use tax havens such as those in the Cayman Islands to avoid paying taxes. By doing business in these countries, companies can take advantage of lower tax rates and weaker regulations. This allows them to keep more profits and avoid contributing to the public good in their home countries (Green, 2021). While this may be legal, it is ethically questionable and often criticized by the general public. Conversely, if Canada were to close tax loopholes or prevent the use of tax havens, it could put that money towards much-needed social programs and infrastructure projects. For example, Canada could fund a national childcare program, invest in renewable energy sources, or repair and upgrade aging infrastructure.
Alternatively, the government could choose to reduce taxes for all Canadians as a way of stimulating the economy. There are a few ways that closing down tax havens could affect my work in the financial sector in the future. Firstly, it could mean that companies and wealthy individuals would have to pay more taxes on their overseas earnings, leading to lower profits for these companies and less money available for investment (Green, 2021). This could, in turn, lead to job losses and slower economic growth. Secondly, it could make it more difficult for companies to operate in multiple jurisdictions, as they would no longer be able to take advantage of lower tax rates in certain countries. This could lead to higher costs and red tape, thus negatively impacting jobs and growth, including mine.
Sweden’s approach to unions, work, taxation, and childcare is unique and receives support from its citizens. Sweden has a long history of supporting workers’ rights, which is reflected in its current policies (Witoszek & Midttun, 2018). Swedish unions are some of the strongest in the world and play a major role in ensuring that workers are treated fairly. Swedes also have a solid work ethic; they regularly rank near the top of international surveys on work hours and productivity. Taxation in Sweden is high by global standards, but most Swedes feel it is fair and necessary to support their generous social welfare system (Witoszek & Midttun, 2018). Childcare is heavily subsidized by the government, making it affordable for even low-earners to raise their children in decent ways.
There are several potential advantages to adopting the Swedish model in Canada. Firstly, union membership is quite high in Sweden, giving workers a strong voice in the economy and more bargaining power regarding wages and working conditions. This can lead to higher wages and better working conditions, boosting productivity and competitiveness. Secondly, Sweden has a fairly progressive tax system that helps to fund social welfare programs like free healthcare and education; all these Swedish model benefits will be experienced in Canada (Witoszek & Midttun, 2018). If Canada adopts the Swedish taxation system, it would have difficulty. Sweden has a much more progressive tax system than Canada, which could lead to fewer development funds being available for municipalities and other local governing bodies.
The YouTube video “Wealth Inequality in America” presents how most Americans perceive wealth inequality, their ideal distribution of wealth, and how it compares to the actual numbers. Although many people intellectually understand that the situation in the U.S. is egregious, it is hard to conceptualize fully because the human mind is just not capable of grasping what 200 billion dollars of personal net worth means. This video used interesting graphics and visually expressed just how much money the 1% own compared to most Americans. The information itself was not new or surprising, given that the video was originally published in 2012. Since then, we have witnessed the rise of tech “centibillionaires” and a global pandemic that caused the highest unemployment rate since the 1930s (Center on Budget and Policy Priorities, 2021). Elon Musk is currently worth 488,000 times more than the average American (Scott & Kiersz, 2021). In 2021, we need an updated video on wealth inequality.
U.S. public schools are primarily funded by district property taxes. However, the 1970s California case Serrano vs. Priest ruled that this resulted in unequal educational opportunities for students in lower-income districts and enacted a funding scheme that relied more on state revenue. Generally, the case was a step in the right direction but was unsuccessful in completely tackling the problem. Nonetheless, I agree with the judge’s ruling. Education is a fundamental human right, and public schools are meant to be government-funded institutions that provide opportunities to all children without charge. It is unjust for public schools to vary in quality only because of their economic district and thus prioritize higher-income students. If all public schools depend on tax revenue, then they should all have an equal amount of funding. Varying quality according to price is the domain of private schools.