Income Inequality Point of View Essay Essay

Snapshot of single dispersed actor (Mancini 2020)Income and wealth inequality have come highly contentious and polarizing issues throughout the world today. A economic prosperity continues to grow, statistics show that more individuals are being left behind economically. The rise of income and wealth inequality is creating a large dichotomy between the haves and the have nots. Likewise, by having such as large proportion of the nations wealth and income within a select few individuals, their ability to impact political and social discourse is greatly enhanced. This is particular true within the united states where, politicians often rely on donations from wealthy donors to run for a particularly political office. These donors, often in exchange for their contributions often expect favors done for them as it relates to legislation and other policies. The very concept of lobbying is heavily skewed towards those with money, power and influence thereby circumventing the will of those without these tools. This juxtaposition between the needs and desire of the wealthy and the needs and desires of the poor often lead to bitter and antagonistic debates. These extreme levels of inequality also have implication for society at large. At least 40% of households in the nation cannot afford an emergency $500 expense. Unaffordable housing has caused a rapid rise in homelessness. Unaffordable education, has given rise to nearly $1 Trillion of debt. Still others are unable to properly save for retirement that creating more pressure on the social security system. Each of these elements can have grave implications for society at large. For example, the inability to pay for an emergence expense could lead to rising levels of higher interest credit care or personal loan debt. As we have realized in the 2008 financial crisis too much consumer debt, particularly if they are unable to service the debt and causes severe economic hardships for all of society. Likewise, housing for vast majority of Americans, is the single biggest asset they will own. As housing costs continue to rise, more Americans will lose access to this wealth generating asset. As such spending on elements such as appliances, furniture, law equipment, televisions and so forth will decline, also hindering economic activity. The lack of retirement saving is yet another example of how income and wealth inequality in the long run will harm society. Here, the inability of individuals to consistently save places more pressure on an already strained system. With lack of retirement savings, many of the social security programs currently designed run the risk of becoming insolvent as they pay more money in benefits than they receive in revenue (Alvaredo, 2011)The above is just a few of the many problems resulting from wealth and income inequality. Unfortunately there is a lot of misinformation on how to solve this issue. Most of it centers around taking from one party and giving it to another party. Although this has garnered along of support in the mainstream media, it does nothing to solver the properly. The framing of the issue should revolve around proper education, discipline and skills development as oppose to simply taking funds away from those who rightfully earned it (Goldin, 2009).This approach has garnered so much attention because it doesnt require much thought or work on the part of the poor in society. This, as will be detailed below, creates an ease of information that may or may not be accurate. Here social media often plays an adversarial role as many market participants are misinformed. For example, many individuals are quick to simply blame the rich for there transgressions. They often blame income inequality for many transgressions…

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…their capital to develop a product, goods, or services. Investors take all the risk, in the event that their investment do not provide the anticipates return. Employees who work for the firm often don not incur these risks. Instead, they often are only responsibility for the labor output and productivity. As a result, their risks are lower, therefore their reward should be lower. Those with the higher amounts of wealth tend to be business owners as oppose to simply business laborers and as a result obtain a higher reward for the risk they undertook. The counter narrative therefore suggests that that workers should engage in activities that allow them to become business owners as oppose to simply laboring to make others wealthy. Likewise many use the counter argument that wealth inequality will disappear on its own as wealthy heirs squander the money or wealthy parents simply donate it back to society (DeParle, 2012).Your suggested media strategy for engaging online public opinion on your response.The suggested media strategy should involve leveraging social media, YouTube, townhalls, and other forms of communication to better engage with the poor in society. Here, emphasis should be placed on properly educating these individuals without the influence of agendas or tother influences. Here, only facts should be presented in order to improve the outcomes of poor individuals throughout society. In addition, low cost training and skills development should be offered those willing to show they have the capacity to change their life (Delevingne, 2015).Your assessment of this specific narrative struggle as a means of changing peoples thinking about complex global, regional or country specific problemsThe narrative struggle is very real and will be difficult to change peoples minds. Here, the appeal of alternatives is so compelling that counter arguments are often rendered moot. Likewise, the lack of education…