Resolve Wealth Disparity in the US, Essay Example

Freedom. Our country is built upon this ideal, but despite the fact that it the deepest desire of many, it appears to be beyond out reach. Frankly speaking, no one county can achieve true freedom, not even in the United States of America, which is considered to be the pinnacle of democracy in the modern world. Even in the “Land of Liberty”, this lack of freedom motivated protestors to initiate the Occupy Wall Street movement, which was inspired by a major lack of equality between social classes. The masses of protestors that participated were mostly young people who were the victims of the American economy, who were fed up with their inability to achieve the “American Dream”, on top of their inability to gain jobs that would help them to support themselves. Under this model, the poor would only get poorer and the rich would only get richer. However, this has the potential to destroy the American economy, and this unfairness must be shifted in order to ensure that the future of the country will remain bright.

Dissatisfaction with Wall Street began due to worsening income disparity and the division as to how this problem should be resolved. Republicans contested that corporations should be given tax cuts to achieve this, while Democrats believed that it would be best to keep the money of Americans in their pockets and invest in education. Unfortunately, the wealthy are those with power, and political decisions were decided in their favor. This completely undermines the concept of the free market, which is no longer an American principal that seems to be adhered to. The free market is now a breeding ground for large corporations, which takes away the very idea of freedom after which it was named. Market monopolies destroy small businesses, taking away wealth from the middle class and adding wealth to the already powerful corporations. All major business decisions of this sort continue to contribute to this disparity.

The control of the free market is at the point in which if corporations fail, the American economy will fail as well. If the American economy fails, the world economy will crash as well. Since the wealthy control the corporations, they now control the government, who will compensate them in order to prevent these organizations from declaring bankruptcy. That is precisely what happened during the financial tsunami of 2008, in which many large banks and corporations went bankrupt and brought down the whole global economy. This economic recession led to massive youth unemployment, and caused many individuals with year of experience in the workforce to become jobless as well. As a consequence of this catastrophe, the youth employment rate has remained low.  Without a secure job and guaranteed pay, these individuals are destined to remain poor and rely on support from the government to make ends meet. Statistics have shown that merely 6% of the commoner majority can become successful in their business and get out of poverty. This, again, makes the income disparity even more severe.

America, as the leading country in modern society, has an economy that can influence the world immensely. Hence if the American economy fails, it would therefore affect the entire international community, which includes each and every one of us. Hence, it is more than crucial to resolve the internal financial crises within America by resolving the class disparity that currently exists. This includes the need to tackle governmental indulgence towards the wealth in addition to resolving youth unemployment.

As mentioned previously, Obama has tried to alter the class imbalance. However, this was to no avail. Specifically, he attempted to lower the salary tax rates, which are requirements for all citizens. However, this plan was strongly rejected by the financial industry and the large corporations, and thus ended before it could take effect. He fully allowed himself to be an opponent of the people, because the power was on the side of the few wealthy individuals of the country, and sided with them in order to be re-elected. The individuals of the Occupy Wall Street movement came together to demonstrate the illegitimacy of political acts such as this. The purpose of a democracy is for all to be represented, not just the small powerful few. In order to counter this, we must demonstrate to the president that we publicly show support to these policies to solve disparity. We must show them that people have power, and we need to do so in order to reclaim our government.

Next, we must resolve youth unemployment. To do so, it would be beneficial to collaborate with banks to set up bank accounts especially for youths to save up for university. In order to promote the employment of the youth, we must provide them with opportunities to become educated for a reasonable price and help them locate jobs. By engaging in these actions, we can solve the fear and inability of many studentsconcerning the repay of unnecessarily large loans. All these can empower the American youths, especially those with a weaker socio-economic background, and increase their chance of being employed. Hence, I plead for your support in these actions and organizations, to solve this wealth disparity issue in the United States, since the economic problems of America are the economic problems of the world.

We all must stand by America to ensure that its economy remains strong, since many nations across the world continue to rely upon it for trade. The American economy is strongly linked to our own, and the future of America is therefore our future as well. We must take immediate action to ensure that the youth of America is protected to ensure that they are provided with the ability to support the employment and education of our own youth. We must encourage our leaders to engage in diplomacy with American leaders in a manner that promotes the rectification of the class imbalance and education disparity today. Resolving these problems in America are the only way that we can ensure that our children and our children’s children will be treated with this same equality.