The novel coronavirus has pushed everyone beyond tolerance limits. Many individuals are more upset by the growing wealth gap especially in the US for many years, but the disparity between the people who have and the disadvantaged have been growing.
James Gutierrez is an inclusivity proponent who is committed to this professional course and addresses the disparities and forms platforms that can help to minimize the gap. Today, the American Federal Reserve reported that the top brass of the citizens control 29% of the entire wealth.
If the top brass grows from 1% to about 10%, this gap widens more. Therefore, these wealthiest Americans account for double of the disadvantaged 90% combined. The bottom half of the Americans contribute an insignificant 5.6% of the nation’s wealth, and the figures are quite staggering.
These elusive numbers are brought about by the terrible system that strategizes them. According to AEA in 2018, a regressive tax system was instituted at the brass. The leading 400 richest Americans only paid an insignificant tax rate, unlike the 29% macroeconomic rate.
People do not want to experience the wealth gap, instead, they expect a mob to angrily force the government to respond to the tired citizens. However, James Gutierrez among other leaders believes that this could only happen in a middle-up trajectory.
Responsible agencies can chip in to leverage the impoverished households and advance them toward stable situations when lobbying for better regulations that anchor the changes.
James Gutierrez said that many people focused on several financial services like banking relationships, credit, and loans are found in the upper region of 50-90% portion. James has also founded several fintech companies like Aura and Oportun.
James Gutierrez is a social entrepreneur who claims that being poor is quite expensive because individuals without an impressive credit history are denied loans.