Question

Explain what steps must be taken to reduce our national debt and inequality in America.

Answer 1

Steps to reduce the national debt in the U.S.

1. By increasing the workforce it is possible to increase the taxable income and then revenue to pay the debt. It is not necessary to increase the workforce only by an increase in population. The workforce can be increased increasing the retirement age in the U.S.
2. The decrease in spending and by making the tax system more efficient. Cuts in benefits that are no longer much required and an individual can bear them alone. Putting the tax on things like energy can make the tax system more efficient.

Steps to reduce inequality in the U.S.

1. By investing more in education it is possible to see less inequality in America. Education plays the huge role in determining the financial health of an individual. Education increases the thinking power and makes the individual working more efficiently which makes his financial condition better.
2. By increasing the minimum wage the inequality in American can be reduced. People who fall below the poverty line will be able to reduce the gap of the poverty line. Hence by increasing the minimum wage inequality can be reduced.