Capitalism has existed in one form or another since the beginning of agriculture, whether it was a medieval guild all the way to today’s multi-billion dollar corporations. Capitalism in short can be described today as an economic system in which the major means of production is privately owned and operated for profit and pricing is often a derivative of the current market economy. While capitalism definitely tries to promote a healthy and thriving economy, a lot of people would also suggest that it can be detrimental to society in such ways as allowing the rich to get richer and the poor to stay poor.
The United States economic structure can often make it hard for some while catering to others. While major corporations often have to pay higher taxes than most, it is not proportionate to that of a man with little to no money. Often times people in the lower income bracket of society will end up on the streets from doing nothing wrong but not making enough money to pay their taxes. The wealth distribution in America is so irrational that the people in the upper bracket can afford to pay a little more than most, since most of society (50%) attribute to only 2.8% of the total ownership of wealth. Most of our money is squandered away in helping our economy strive, but leaves our society behind. I feel that the United States has an obligation to its own people, especially when one third of the people living in poverty are children. We live in a society where we are supposed to have a no child left behind mentality but instead most have more drive to increase their personal worth than that of the society as a whole.
Given the declining marginal utility of money, I believe that the upper echelon of people with wealth have too much money, seeing as how 70% of the United States wealth is distributed between 10% of our population. I feel that these people should have to be taxed more than your average Joe. While these people may not be too happy to abide by...
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