I came across Jaskaran Chauhan’s blog and was able to read the article about the increasing income inequality in Canada. Even if America has the highest magnitude of inequality among its 17 peers, Canada’s rate at which inequality increases is more alarming. According to the article, one way an economy can address this problem is by taxation. But taxation policies in developed countries are always against redistribution.
According to Jaskaran’s blog, he agrees and suggests that everybody has to think of everybody else’s welfare and not just theirs, and that the rich should learn how to share their wealth to the many people in need. This is an extremely idealistic stand. In reality, no one will ever want to share their wealth with others, let alone, be equal. Companies never stop proclaiming they are the best through striking and distracting ads we see or hear every day. It will take a while and a lot of stricter regulations for Canada to lower its Gini index.
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Sources:
Morrissy, John. “Gap between Rich and Poor Rising Faster in Canada than U.S.: Study.” The Vancouver Sun. 13 Sept. 2011. Web. 21 Oct. 2011. < http://www.vancouversun.com/business/between+rich+poor+rising+faster+Canada+than+Study/5394730/story.html >.
Chauhan, Jaskaran. “Ethics: Should We Share? | Jaskaran Chauhan’s Blog.” UBC Blogs | Home. 14 Sept. 2011. Web. 21 Oct. 2011. < https://blogs.ubc.ca/jaskaran/2011/09/14/ethics-should-we-share/ >.