Question

In: Economics

What do you think politicians should do to get the system working for the middle class?

What do you think politicians should do to get the system working for the middle class?

Solutions

Expert Solution

Politicians should do the following reforms to get the system working for the middle class:

1. Bring reforms to the taxation system such as bring progressive or proportional taxation system where income tax is paid on the basis of income earned by the individuals. It will help middle class to pay the tax as they earn.

2. Bring specific facilities to the middle class people on the basis of tax and deductions they pay to the government authorities. One portion of the tax income should be spent upon the benefits offered to them. It will bring a sense of satisfaction that their income is also spent upon themselves.

3. Create new employment opportunities for the middle class and ready the middle class by offering skill specific vocational training program. A nominal fee should be charged so that these people should get the maximum benefits. The focus should be given to develop the self-employment among the middle class people.

4. Bring regulations so that health care cost is reduced, a big worry for the middle class. Channelization of health care through the government run institutions or strategic tie ups with private players will bring help to the middle class.

Above initiatives will make the system work for the middle class.


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