Saturday, April 10, 2010

post: inequality in the U.S

In the last 30 years, government cut tax rates for rich people more than the middle class and poor families. It increases economic inequality that the wealthy gets wealthier and the poor gets poorer.The health bill that President Obama signed into law will reverse that trend. In this bill, the government will increase tax rates for rich people , and cut medicare subsidies for private insurers to expand its benefits for middle class and poor families. The health bill will cover 95 percent of people, and help many people to afford medical care after they lose a job or get sick. Its benefits also flow mostly to middle class households who make less than four times the poverty level--$88,200 for a family of four people. The health reform would "mark a new season in America" because it not only reduces inequality in health care, but also attacks economic inequality of the Reagan era. As we know , government policy and market forces both contributed to increasing inequality since the Reagan era. President Obama think that the Reagan administration had gone too far, America need to have a new trajectory, the old theory that trickle-down economic growth did not work for ordinary people; government should create bottom-up economic growth. Therefore, the health reform will push other things to shift and find a proper balance between the market and the government. The health reform is just the a start of a new beginning.

1 comment:

  1. Good overview, Li. How would you define the term "trickle down?"
    Even though the blog is informal, you want to make clear when you're referring to the article, either directly or indirectly, and when you're quoting.

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