Should there be income inequality? Why or why not?
As ideal as it would be to have no income inequality, it is needed and provides many benefits. An income gap proves that there is an acceleration of economic growth that will prove to raise the standard of living, as talked about in the article published by The American. For most, the income gap shows the difference in a person's education. A college graduate will prove to have a much greater income from a person who only completed high school, or simply dropped out. It shows the rewards for being in school longer and furthering a person's education. If a person is specifically trained in a certain field they are bound to have a higher income, and the less that are trained in that field, the greater the pay may be. So generally, income inequalities actually show benefits in the work force. Income inequality should not be vilified, and public policy should encourage people to move up the income distribution and not penalize them for having already done so. Income inequality is what makes a functioning economy.
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