Blog Post # 5

The article that I founded interesting to read and relevant to our topic about class warfare is The New York Times article released in late September of this year to show whether capitalism is beneficial to the middle class or upper class families. The article questions that how the economic gaps between the poor and rich expanded out since the late 1980s. Those at the top of the class ranks in actual facts enjoyed to the new economic change, over time they used it as their own advantage. They own almost 30-40% of the nation’s wealth, while the middle class has become lost in the mid-ways. Since then the middle class has become the victims of different governmental and private loans such as, credit debt card and housing loans to live better and accomplish their economic dreams. To move up from middle class or even from the bottom of working class that nearly every poor American employee works hard to be in the comfort zone-the upper class which has great economic prosperity. The question that everyone feels to ask is that why the government officials let the economic gaps to grow faster even though they knew the growth factors were unbalanced tax cuts to the social classes? They let the riches to pay less tax rates then loaded the burden to middle class families. The unfair tax rate widened out the economic gaps between the very poor and rich that cannot easily get back to the early 1980s class structures. In addition, Chrystia depicted that the growing of technology and globalization has allowed the rich and big companies to send their jobs overseas and produce goods by paying a decant wages to skilled intercontinental workers in their companies. The rich has not been paying their share pair to the federal government because they are the job creators and believed that if we make them pay they can shut down big corporations and can cause dramatic job recessions. These can prove that capitalism is about voraciousness that results as the expansions of wealth competition and individual financial prosperity.

http://www.nytimes.com/roomfordebate/2011/09/19/do-taxes-narrow-the-wealth-gap/obama-is-right-to-be-concerned-about-justice

-On the above is website for The New York Times article if you guys want to read it.