In the United States, around 50% of Americans live in the middle-class. Then on the downside, about 30% of Americans live in low-income households. For the upper-class, that translates to about 20% of Americans. What I’m trying to convey in this article is; does economic class relate to the difficulty or the effort put into work?
One very interesting topic is the minimum wage. There are many arguments that it brings about. There are also many pros and cons to even having a minimum wage. Many people rely on the minimum wage to even keep afloat. They can be doing very stressful work, whether it’s stressful for their body or mind.
But sometimes you have to look past minimum wage and look at company success. It isn’t very fair for a small business that is barely making ends meet to have to pay employees $15 an hour. On the other hand, it isn’t fair to employees of a large successful company to only be paid $15 an hour. And that doesn’t even factor in the difficulty of the work.
Often you’ll find that low-income to middle-class individuals are working their butt off and putting their body to the limit just for minimum wage. People often blame people in low economic groups for their own poverty. They say that they don’t work hard enough or blame them for not even having a job. Which anybody that lives in these groups would undoubtedly dispute these claims.
It can be very challenging to climb the economic ladder. Which I believe it should be that way. However, sometimes it isn’t very fair. The upper-class can be very unforgiving of your past and expect so much out of how you were raised.
One example is, running for the presidency. You often hear the claim, “He’s an outsider!” But is anybody that actually has a chance to run ever truly an outsider? Definitely not. The media and top dogs would never let a true outsider run. In order to run for the American presidency, you must have come from an upper-class family. You never see candidates come from truly broke homes. And sadly, every kid’s true dream of being president is smashed before they were even born.
The only chance to climb the economic ladder is to constantly fight. It just sucks how much the odds can be against you. The world and society are very cruel. If you are in the middle-class, your chances of climbing up to upper-class are very slim. If the poverty rate continues to rise, and our only solution is to raise the minimum wage, then Americans are screwed.
The only way to really dig ourselves out of this hole would be for the rich to truly invest their money in the people. But the issue with that is that people are born rich. They don’t learn the value of money. Many people who actually get rich and climb the ladder don’t know what to do with their money. So both these groups of people may waste their money on material things. They don’t truly understand the economy and they are the true leeches in our great country.
The best thing anybody with a considerable amount of cash flow can do is to make a business or to invest in one. By doing this, you allow that business to raise their employees’ salary without having to increase product prices. This would, therefore, end minimum wage debates and would lower the poverty rates. This way, individuals in all economic classes would be satisfied.
The investors could be making a commision or some other form of profit from the business they invested in. The business can pay their employees more and still charge a fair price for their goods. The employees get paid a fair compensation for their effort. And the consumers don’t have to pay a ridiculous fee for a good.
Doing this would be a way better option than messing with the minimum wage. Now, of course, the minimum wage would fluctuate due to inflation. However, now we wouldn’t have issues of a skyrocketing inflation rate and poverty rate.
As far as taxes, we could just charge a flat rate across the board. But then if you make a personal income that places you in the upper-class in your city, you will be charged an extra percent based fee. This fee would fluctuate depending on how much you invested in your own business or others’.
I believe that these are some of the key changes that America needs. This would make the economic system better balanced. And above all else, this would satisfy all Americans’ needs. And if you have any opinions on this, please let me know.