Question

Min. wage issue might not be an interesting subject to you if you currently make higher than min. wage (due to your education/experience) . I wanted you to have a chance to think a topic that are related to this issue. Min. wage issue is directly related to income inequality problem. In fact, income inequality issue is a bigger problem than min. wage. Find out about income inequality in America by your own research. If a help is needed rather than your own research: read this article : income inequality in America,  After reading the article and finding from your own research, tell us about your opinion and How can we fix this problem in our country?

Answer 1

Income inequality is one of the biggest issues of the world, with Oxfam reports predictions that 99% of the wealth is captured by 1% of the population in many countries. More worryingly, a large part of the inequality is driven by huge returns to wealth which makes it even harder to solve. Technological progress leads to skill biased growth with few high skilled individuals reaping the benefit.

To solve the problem, a higher tax is required and much stronger redistribution policies along with a proper implementation is required. Also, the givergover should subsidize education and health so that a large part of population can compete for high paying jobs and inequality fall. Access to funds to start companies should also be a policy priority