INCOME INEQUALITY

Income Equality in a country refers to several subjects but I would be discussing the compartment where poor has to suffer. The worlds RICHEST 3% hold more than 50% of worlds wealth. Income equality's existence is merely an opinionated point for the middle class and just an illusion for the poor class. This gap widens in the third world countries as their mentality overwhelms their sense of equality. The politically elite often ignore the plight of deserving as if they were BORN TO SERVE THE RICH. Due to lack of income, people are unable to afford inflation inspired necessities of life hence they are forced to commit the ills of society. One can't blame them for losing their right mind, were they given their right, world would have been a better place. Corruption infected countries have developed a tax regime such that the rich pays 10% of their income in TAX where as the needy contributes to 16%. The lack of attention to inequality exists despite empirical analysis showing that an increase in GDP by one percentage point reduces poverty by 3.6% whereas a one percentage point decrease in inequality reduces poverty by 8.5%. At one end, private sector property developers are advertising housing schemes with swimming pools, horse riding Tracks and golf courses; and at the other end, there are families of 20 crammed up in a single room.

Solution:
The solution of this disease is as unambiguous as it may sound that the ruling class should be formed with giving as much chance to poor as given to rich so that the leader knows and feels the struggles of common public. The policy makers should design a progressive tax policy rather than regressive. The basic rights should not be withheld and market economies should be kept within established boundaries to avoid income inequalities by unacceptable margins.