The gap between the rich and the poor is becoming wider; the rich are becoming richer, and the poor are getting even poorer. What problems can the situation cause? What can be done to reduce this gap? Give reasons for your answer and include relevant examples from your knowledge and experience.
The increasing gap between affluent and destitute people causes a grave issue for the nation’s development these days. This is mainly due to inflation which can be tackled by spreading awareness by the government and reducing the amount of tax from the backward individual.
Commencing with there are a plethora of reasons why poor people are becoming poor. First and foremost, inflation makes it challenging for backward people rather than rich people. This is because it is arduous for poorer people in order to cater for their daily requirements, and due to this, underprivileged masses have become victims of inflation. They spend their whole income to fulfil their needs. Take epitome as an example, which shows the gap between poor and rich people is increasing daily as poorer people expend their whole income daily. As a result, it is destructive development for the development of mankind.
In order to tackle this problem, the administration should commence an awareness program to decrease the amount of poverty, which can be beneficial not solely for the development of the nation but also fruitful for the holistic development of mankind. Besides this, the authority should eliminate the tax amount from underprivileged people for growth because this individual can preserve it for the future. Also, poorer people become affluent. For instance, lawmakers should reduce the amount of tax on people to reduce the gap between rich and poorer people. Consequently, it is beneficial and brings drastic improvement in individual life.
Having concluded, although it is detrimental for the regime to reduce the tax burden, this constructive approach can easily reduce the gap between poorer and rich people.
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