The movie Inequality for All by Robert Reich focuses on a dichotomous real-life problem: escalating minimum wages via taxing the rich.  I agree with Reich although I decry some of his ideas. Firstly, Interests should be levied on the rich because their cash inexorably confers political power to extract more resources from the budget (O’Brien et al., 19). The companies’ directors also determine the remuneration of the CEOs. In most cases it is packed with that of other CEOs, I think there is no mistake with this kind of a system because it evidences and enhances democracy in company affairs. Perhaps if the CEOs determined their pay, they could steal.

I agree with the film’s idea that the moneyed should honor their fair tax obligations share although it is not very much clear if they do not do so. Only a small percentage (5%) actually, of top taxpayers who pay half of the US income tax obligation. The richest, who constitute 1% of the country’s population pay above 30% of the income tax.  The reason why I agree on this point is that the majority of the rich people in the US take charges lightly and avoid it. Their rates of taxes should rise for the country to effectively finance Medicare and Social Security (O’Brien et al., 57).

The above two points of levying interest rates on the rich coupled with the requirement for them to pay taxes are the main ones in the film, which ceteris paribus can help in solving inequalities although they are subjective.

Reich in this film postulates that escalating inequality is undesirable for everyone and not specifically to the losers. The oft-heard idea is that it creates loopholes in society. Nonetheless, it should be understood that there is no resentment for the wealthy in the US.  Most of them do not agree that the moneyed climb higher at the expense of the poor. According to the film, wealthy people do not spend hugely on consumer commodities. Therefore, the concentration of money with the rich folks implies reduced spending, hence, injuring the economy. I disagree with this assumption because the rich invest their wealth (economically advantageous, albeit not in America). As a result, it is very dubious for anyone to think that other people would have more money if the rich had less (O’Brien et al., 83).

Another missing point in the film is pensions and other associated benefits. Reich argues that after war times, labor unions which were strong could capture for their employees a fair productivity gains share, but the power of unions waned O’Brien et al., 8). During this period of the strength of the labor sector, fat pension and the fat remunerations were negotiated. With escalating longevity, people are still honoring obligations arising from them. Inequalities have been emerging between the non-working class and the working. There is an ongoing wealth transfer to the latter from the former in forms of social security, Medicare, and disability among others. If the film presents right information that employee capture a small fraction of the economic pie, then unemployed make up the most significant percentage (Fuentes-Nieva et al., 47) The problem according to Reich is low wages to the working class. But I think the issue here is rampant unemployment. The idea, in this case, requires further development.

The essence of education according to Reich is agreeable. Inequality ranks are increasing because the less educated are penalized and the educated folks significantly rewarded. The non-educated are very many, do not enhance companies’ competitiveness. The market determines their pay unlike for the educated. Raising the minimum wage would mean companies will substitute workers for technology(Firebaugh et al., 23)//

Works Cited

Firebaugh, Glenn, and Brian Goesling. “Accounting for the recent decline in global income inequality.” American Journal of Sociology 110.2 (2004): 283-312.

Fuentes-Nieva, Ricardo, and Nicholas Galasso. Working for the Few: Political capture and economic inequality. Oxfam, 2014.

O’Brien, Dave, and Kate Oakley. Cultural value and inequality: A critical literature review. Arts and humanities research council, 2015.

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