Studies have shown that in many countries the income gap be tween the rich and poor is ever increasing. What problems can arise from this situation and what could be done to address this situation?

Nowadays the rich are getting richer while the poor are becoming poorer,
this
is suggested by a recent study. Wealthy people are making way more money than past because of higher population and the increasing demand associated with it, whereas, underprivileged people are starving and are in dreadful condition. The major problem associated with
this
situation is that it will create two different worlds, one for the affluent and other for the poverty-stricken people. The solution can be as simple as making definitive laws to save the less privileged by the government. Only if the richest people can afford all the earthly possessions, while the needful are still struggling to make their ends meet, would mean discrimination among the population.
For example
, all the important places and things will be possessed by the upper-income class and other income groups will have to rely on them or work for them.
For example
, education, water, food and shelter is a basic necessity for any human being and if
this
growth continues necessitous people will suffer. The world needs its people to prosper together and for
this
,we need to tackle
this
problem in an efficient way. To remedy the situation of increasing difference in their wealth, there are a couple of solutions.
Firstly
, government to intervene properly to assess the situation and make compulsory taxes for the riches and including, safeguarding the rights of the poor by allocating the funds for their necessities.
Secondly
, providing jobs to the needful and ensuring there are minimum wages given to them,
that is
people working should be provided with at least some amount in comparison to the living expenses.
On the other hand
, wealthy people should be a part of community service, which in return shares its profit to the social cause. In conclusion, upon recent research among the population, the difference in the income levels of the well-to-do people and people with less money is substantial. Affordability of people has gone for a toss as only a certain segment of people are able to live their life fullest. Government body needs to ensure that all the people live in harmony without any biases.
Submitted by vivianrapheal24 on

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Topic Vocabulary:
  • income gap
  • social discord
  • disparity
  • entrenching
  • progressive taxation
  • redistribute
  • public services
  • economic growth
  • disposable income
  • minimum living wage
  • standard of living
  • unemployment
  • lower-skilled workers
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