Different policies to fight poverty-essay代写

下面为大家整理的一篇优秀essay范文- Different policies to fight poverty，供大家参考学习，这篇论文讨论了缓解贫困的不同政策。美国两大政党在针对贫困问题都有着不同的想法，民主党希望实施税收政策，大幅度增加低收入工人的收入，而共和党则希望提高低收入工人的最低工资。最终为了应付这两大政党之间的分歧，保罗瑞安宣布修订并扩大无子女成年人的收入税抵免。

There are always debates between policies on fighting poverty, the Democrats want to carry out tax policy to increase low-income workers income significantly, whereas Republicans want to raise minimum wages of the low-income workers. They share a same objective but with different policies. Each policy implemented would cause profound impact on economy, no matter macro-economy or micro-economy. Democrats argued that raising minimum wages would definitely eliminate jobs, they even have supporting data that 5,000 jobs would be cut off.

For the individuals that are laid off, this would only be counter-productive. But proponents of the Republicans’ proposal insisted that the current minimum income is too low to live on, demonstrating by carrying out a public challenge to live on the federal minimum wage for a week. To cope with the discrepancy between these two groups, Rep. Paul Ryan in July announced to amend and expand the Earned Income Tax Credit for childless adults, which people think would raise disposable income and improve poverty problem without affecting the number of jobs. The Earned Income Tax Credit represents a refundable tax credit for low-income families, helps the poor workers by actually raising their take-home pay without creating bad impacts on jobs. But the Earned Income Tax Credit has one major flaw too: “Under current law, the size of the credit is dramatically smaller for individuals and families without children.” Therefore, to better eliminate poverty, Rep. Paul Ryan expected to expand the credit.

The change in demand for labor force actually comes from the change in supply price. We all know that, there must be an equilibrium price in a free marketplace where the demand and supply are balanced. When the government imposed a price floor on wages, namely the so-called minimum wage, if the price floor is below the equilibrium price, it has no effect on the market; if the price floor is above the equilibrium price, the floor will be a binding constraint on wages, causing a surplus of workers looking for jobs, thus raising the unemployment rate. From the class, we also know that minimum wage laws don’t really affect highly skilled workers, because their wage is much higher than the minimum wage. But it do affect teen workers and workers without skills whose wage is just below the minimum wage, because the employer will choose to lay off employees to save cost in order to maintain profit at a similar level compared with previous profit.

As for the effect of the Earned Income Tax Credit on employment, in my opinion, it won’t cause additional unemployment, but may probably boost labor market and put money in low-income workers’ pockets at the same time. Because the expenses comes from federal government, it has nothing to do with employers economic benefits, other than that the government is going to impose higher tax to cover the huge expense; and some people may go back to work to get the tax credit if the credit is higher that unemployment compensation(payments for not working). The above reasons are also the advantages of the Earned Income Tax Credit of the minimum wage.

I would like to vote for the Earned Income Tax Credit policy when fighting poverty. Poverty problem is a key issue that may affect social stability. People are poor because they earn not enough money to improve living standard. So the key to solve poverty problem is to raise the disposable income of people in poverty. I think everybody will reach consent on this. And we can use different means to obtain the same result. But in the era of commodity economy, we should regard the poor as a kind of product in the market place and take all the sectors in the market place into consideration.

For raising the minimum wage, it is like set a price floor of labor force by government and will absolutely affect the demand for the product. We should note the impact it have on the unemployment rate. If it is in economic depression, things will get worse. Investor will be less motivated to hire more labor force. And for the Earned Income Tax Credit of the minimum wage. It won’t affect other sectors in the market other than the low-income workers. It is more specific to the target, raising the income the poor workers. And if it is in economic depression, the market may lower the labor force price which will be made up by the tax credit to create more job opportunities to stimulate the economy. But we should consider the fiscal bearing capacity facing such huge expense.

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