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Wealth And Income Inequality Essay

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There are several reasons which leads to the rising of wealth and income inequality. The first reason is outsourcing becomes more popular in many countries including Canada, because of the development of technology and globalization. Nearly 130 positions in the Toronto financial department of CIBC outsourced to Indian employees (cbc news,2017). It is clearly that this phenomenon eliminates available jobs to Canadian employees. The question is how students can afford to pay the debt from their education if they cannot get job. At the end, only employer benefits from that situation, more money will be made from outsourcing. As a result, the rich is richer, and the poor is poorer. Second, education background has an enormous impact on the shifting of workforce from low-skills to high-skills group. Over the past decades, …show more content…
The first solution is how government regulates policies effectively. First of all, fairness gender pay plays an essential role in decreasing the gap by balancing the income making by men and women. For every dollar made by Canadian men, women earned 87 cents which rose 10 cents since 1981(Statistics Canada data, 2015). However, there are still a gender gap and to resolve it, the government should apply a new model family benefits. Parental leave ought to be given more time off and fully salary paid instead of paying out 55 per cent of income (Statistics Canada data,2017) and boosting the childcare system is also necessary. Moreover, inheritance tax should be considered since some people inherited from their families and they do not need to pay any tax on that assets. This phenomenon will a wealth disparity since money only is concentrated on a hand of a few individuals. It is not fair for others because inherited individuals can receive a huge income, but they do not have to pay tax; Meanwhile others have to work long hours with low income and they pay tax on their

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