The dynamicity of the contemporary economy has resulted in fluctuation in inflation rates and subsequently the cost of living. Principally, if an individual or a group earns less than the statistically determined cost of living, it is correct to infer that that individual is bound to live a poor quality of life. According to the Pew Research Center (2016), the disjoint between an individual’s income and the cost of living is a far-reaching problem for the middle class in the United States. The problem is demystified by the statement “Views are mixed among the middle class: 48% say their income is staying about even with the cost of living, but almost as many (43%) say it is falling behind,” (Pew Research Center, 2016). Therefore, it is imperative that the government intervenes in the matter by advocating for a higher minimum wage and alleviating the unemployment problem.
The initiative to raise the minimum wage in the United States would directly impact the middle class and correspondingly upsurge the income earned by the middle class (Pew Research Center, 2016). An increase in household income would, in turn, allow most families to have more many than the cost of living. The ultimate result is an improvement in the quality of life.
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The solution to the aforementioned problem is the alleviation of the unemployment problem. Unemployment is a tough huddle to cross owing to the fact that it stems from a myriad of factors. Nonetheless, the major factor of consideration that should be taken into account by the government is that granting companies tax holidays and general tax cuts would be an effective incentive for discouraging entities from outsourcing work (Pew Research Center, 2016). The ultimate result is a majority of middle class individual will be employed and will be able to earn above the cost of living.
In conclusion, solving the unemployment problem and raising the minimum wage would allow the United States middle-class population to earn more than what they need to lead quality lives. Ultimately, by taking such consideration into account, the government is able to warrant an improvement in the quality of life of the general population.
References
Pew Research Center. (2016). Most Americans say government doesn’t do enough to help middle class.
