In many countries, the rich are becoming richer and poor are becoming poorer. Why is this a problem? What solutions can be done to solve this problem?

In many nations around the globe, the

wealth

gap

between the rich and the poor is rapidly increasing. Certainly,

this

is a phenomenon that can lead to disastrous consequences for any nation. In

this

essay, I will illustrate and elucidate the topic and will state why

this

is a problem before suggesting a few solutions, which may help to address

this

issue. An increasingly accelerating

wealth

gap

is a grave issue because it can lead to massive adverse ramifications. One

such

significant consequence, among many others, is the fact that if

this

trend continues, the poor will lose the opportunity to experience upward social mobility. Simply put, they will no longer have access to facilities that allow one to move up in the social ladder.

Consequently

, poor people will turn desperate and hopeless. With little hope to do good in life, poor people may start getting involved in crime, which can naturally destroy the fabric of the society.

For example

, a study conducted in July 2020 by a well-known Indian periodical, The Times of India, found that there is a direct correlation between an increase in the number of thefts and the

wealth

gap

in all the major Indian cities.

Therefore

,

this

establishes that the increasing

wealth

gap

between people is a major problem. Notwithstanding the seriousness of

this

problem, it remains reversible if the

government

is ready to implement a few social-economical changes. One

such

measure can be the reduction or total abolishment of tuition fee for schools and universities. If the

government

does

this

, the poor will be able to obtain professional degrees that will help them to get lucrative jobs, thereby reversing the growing

wealth

gap

. Another important step that the establishment can take is to increase taxes on the ultra rich. Having taxed the ultra rich,

heavily

Suggestion

heavy

, the

government

will have additional funds at the disposal, which it can invest in social welfare programs

such

as affordable housing, medical insurance, and care facilities for the elderly. These extra investments will ensure that the poor do not feel that they have no opportunity of moving up in the society. In conclusion, the increasingly growing financial

gap

between the poor and the rich can have potentially disastrous implications for the society by the way of increased crime rates and desperation amongst the poorer section of the citizenry.

However

, the

government

can easily resolve

this

issue by implementing increased taxes on the rich and by making investments in education and social welfare programs