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Piereson acknowledges the income disparity that exists between the top one percent and the ninety nine percent of American population. Addressing this inequality, however, is the contentious issue. Both economists and politics are yet to agree on the most appropriate course of action. As the debate continues, I disagree with Piereson on the argument that the top one percent population is not the cause of the income inequality problem. The issue is that the rich are getting richer and the poor are further plunging into poverty. In this respect, it is fundamental to address the problem before things get worse than they already are.
It is important to note that the proposed taxation approach is just one of the many avenues that the government can use to bridge the gap between the rich the poor. Amid critical disagreements on the way forward, it is evident that income inequality is already a crisis that could get out of control in the next few years. The one percent, the ninety nine percent, and all other stakeholders should collaborate to reach an ultimate compromise.
Piereson, James. The Truth About the ‘One Percent’. The Wall Street Journal, Feb. 17, 2014. Web. 18 Feb. 2014.
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