The Urban Inquirer
A blog produced by students at Queens College, CUNY
“When never a day late..but always a dollar short”
Image result for picture of hand short of money

Have you ever asked yourself, why is it that no matter how hard you work your still living paycheck to paycheck? I mean even the most devoted dedicated work-acholic these days still seems to be struggling to rise out of their financial slump.  I can’t explain to you how many times I have tried to save at least half my paycheck every week to place into savings. But however still fall short of achieving this weekly goal. Therefore, I decided to take on more hours at the job or another only to find out to my dismay; that the more I seem to make the more the government seem to take from me in both federal and state taxes. Then I began to ask myself “How do they expect individuals to rise out of poverty”? It’s like even when you receive a wage increase or promotion on the job it never seems to be enough; In other words, whenever there is one increase the rest that must do with cost of living is sure to follow. For an example, as per the article The Dynamics of wealth and inequality and its effects on income distribution” entitledjournals.plos.org/plosone/article?id=10.1371/journal.pone.0154196 It states that there are 4 facts they have found based on theoretical research they conducted that attributes to economic inequality. The first is that it’s because the average personal savings is decreasing, second both wealth and income inequality goes hand and hand because it influences labor income that contributes to wealth. Third, that the progression of taxation can have a significant impact on both income and wealth. However, they only measured economic influential inequality factors of the United States not internationally which were only comparisons made. Therefore, I think this is where their research in my opinion may have fell a bit short. However, I do agree with one of their theories that progressive taxation influences both income and wealth.  Take for another example it’s the politicians in government who can influence whether state and federal taxes we all pay goes up or down for either one population of the United States or another; like for example low income, middle class, and the wealthy. Which therefore, as I previously mentioned above determines how much the average working person in 2017 must contribute to society. Which thus plays a significant role in whether that working person may take on more than one job; just to be able to reap financial benefits to the fruits of their labor.  With however I think they also left out and should have researched the issue of gender inequality. Therefore, I think the issue of gender inequality in the United states plays a role in the discussion of wealth and income inequality. In other words, I would have liked to see both the statistical wealth and income wage data comparisons of the working male and female; and where did they each fall within those lines of wealth and income.

1 Comment to ““When never a day late..but always a dollar short””

  1. To the author, I really enjoyed reading this blog post because this resonates with me personally. First and foremost I agree with what you state, that the government should take into consideration how much each economic class should contribute to taxes, and they should make it more conducive to saving, especially for the lower income people. I currently work full time as well as go to school and in the summer I contemplated working a second job because I understood that working more means I get more taken out for taxes each week. Ultimately I feel and agree with you that this must go through many peoples minds when debating whether or not to work more because they have to give more money up. I too agree with the theory from the article that states “progressive taxation influences both income and wealth”. As you state the government can decide how much we all pay based on economic status and I feel the lower income, lower class society gets hurt the most with the high amount of taxes taken out. I think this is a great blog post!

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