I agree with the arguments made in the film because inequality needs to be present but in a limited amount. Abolishing inequality is impossible in capitalism, and forcing such a system is strict socialism. However, having extreme levels of inequality is also dysfunctional because only the middle class can catalyze consumer spending. A high concentration of wealth shrinks the middle class, which slows down the economy (Kornbluth, 2013). I think that taxing the richest individuals will be useful to fuel the economy and expand the middle class by providing basic support systems. However, I believe that increasing minimum wages is a double-edged sword, which benefits valuable workers, but makes it difficult to get low-level jobs. If one’s work and skills are valued lower than the set minimum wage, then he or she will not have an opportunity to be paid, because an employer is not willing to pay a minimum wage and cannot pay lower than the amount. Progressive taxation on the top 1% will be highly useful in order to finance common welfare. Such taxation should also extend to large corporations, whereas small and medium-sized businesses should be less affected by taxes.
These changes would allow many citizens to have access to affordable or even free healthcare, better infrastructure, cheaper education, and a more stable middle class. Heavy taxation on the richest would let people like me join the ranks of the middle class and contribute to the economic development of the nation. If these sums from taxes will be distributed to fund healthcare, education, and infrastructure, other people with student loans, including me, will be able to set up a business or buy a house, which will create more jobs and reduce homelessness.
Reference
Kornbluth, J. (2013). Inequality for all [Film]. 72 Productions.