Income distribution egoist

Steven Bernal

Income Distribution Egoist

The manner in which Income is being distributed in today’s society is not efficiently benefiting individuals. Struggling businesses are unable to afford an adequate number of employees due to minimum wage requirements and this in turn is taking away the opportunity of less qualified personnel to obtain the position for less pay and receive training. People are looking to tax inheritance in hopes of creating a more equal opportunity for everyone, however in the long term this would create financial issues. A free market is the best way to ensure the most prosperity, job outlook and opportunity for individuals. Since the establishment of minimum wage laws in 1938 there was a set standard of amount of productivity per hour. the people testifying for raising minimum wage standard were representatives for the American federation of labor, the major organization of trade unions in the country. The AFOL was in favor of raising the minimum wage standard because it would protect the members of their unions from competition from lesser skilled people. However in today's economy minimum wage laws prevent many small or struggling businesses from taking on the additional much needed staff. Minimum wage restrictions also encumber the lesser skilled people that would otherwise receive vital job training to that would enable them to rise to higher pay. When unions get higher wages, or the members of unions, those higher wages are at the expense of other workers who find their opportunities reduced. when government pays higher wages those higher wage expense of tax payers. when workers receive higher wages and more civilized working conditions through the free market or from firms competing with one another for the best workers or workers competing for the best jobs, then those higher wages are at nobody’s expense. One of the key elements in the economy is the establishment of investments. More often than not the middle and lower classes falsely believe that the rich are only stowing away their money. Placing of tax on inheritance would remove the incentives of investments and cause people to spend their money on frivolous entertainment. In today’s economic society a lack of investment would hinder the development of many of our factories and advancements of many technologies. Income Inheritance is just, in the way that it is, 100% should go to the appointed next of kin or heir as chosen by the deceased. Our economic society is mainly comprised of family and taxing the inheritance of families would harm our investments. In conclusion the free market would ensure the most prosperity and opportunity for individuals. Minimum wages in today’s economy do more harm than good. Taxing inheritance would only encourage people to spend their money on entertainment. Taxing inheritance would also lead to a decline in jobs due to lack of investments. Lowering the control of the government on the market and allowing the people take further control of themselves has proven itself to yield most benefit for ever ones self interest.