The impact of Covid-19 has spread like wildfire across many nations and the US isn’t an exception. The emerging trends help us figure out how the COVID-19 cases are sharply ascending in countries located far off from the PRC. It goes against the common notion of witnessing a rise in Covid-19 cases in countries that have either developed or are developing near the mainland of China.
The US has reported more than 0.8 million cases on the 22nd of April 2020. In comparison, several countries like France, Italy, Germany, and Spain have reported more than 1, 40, 000 cases each.
The Corona Virus pandemic has affected everyone regardless of continent, region, or country. Besides affecting the lives of the more vulnerable social strata, the global pandemic disrupts the socio-economic balance of all communities irrespective of their creed or race. Sharing a spirit of solidarity is of utmost necessity for overcoming such threats among all civic societies, governments, business sectors and stakeholders.
Why We Need to Stay United During the War against Corona
Social distancing is mostly about making people understand why they ought to stand by each other. The entire global population needs to make some sacrifices keeping with the larger picture they have in mind.
All Americans have understood the fact that they are bound together by a sense of security and freedom even at the cost of individualism. Things seem to be rightly aligned with the proverb ‘united we stand and divided we fall’.
Can the US find a Way Out of the Crisis?
Raising taxes needs to be the very first step. Most of those that are under-taxed will put forward an argument in favor of cutting taxes. Everyone needs to contribute towards rebuilding the US economy, but the rich need to contribute more specifically. The rate of taxation touched 94 per cent at the highest point among the wealthiest of millionaires.
What the Government Can Do
While an effective tax rate of 25 per cent is borne by the mid-income earners, the wealthiest in a sample of 400 Americans bear only 23 per cent. Raising the average tax rate by a mere 5 per cent among the richer classes will show up an extra $140 billion every year. A minimum of 820 billion could be generated if all income classes make an additional contribution of 5 per cent. The government will have a sumptuous amount at hand, which if used effectively can help in making all necessary reforms. It could even stop the government from committing a face-loss with the current health-care system.
Compared to the situation that we are facing today, it is more feasible to create a system that supports healthcare. Owing to the cutting of taxes by the administration in 2017, the debt figure has shot up by $1.5 trillion in the US. If Donald Trump gets reelected in November, then he will need to pay off his supporters.
A large section of the supporters may comprise of individuals that are worst hit by the pandemic and the recession that follows. Crossing the Republican Rubicon is only possible when Trump plays the right card on taxation. He needs to opt for general development on the healthcare issue regardless of his choice.
The President has to find an alternative option for ObamaCare if he wants to extend help to families that got affected by COVID-19. Committing a few necessary amendments to the National Healthcare system could be the right path to follow. Ever since the commencement of Health Insurance in 1947, most of the Americans have stepped in its favor. About 75% of the citizens are still supporting the concept of raising taxes on the rich.
There Is a Choice Either Way
The politics of austerity and segregation will return to many parts of the world when the pandemic gets over. The governments will again play the card of their inability to afford many things while clearly stating the reasons in response to the financial crisis created by the pandemic.
It might lead through the confusion about whose responsibility it is to bear specific expenses. Such concerns are especially drawn by the concern over debts and deficits that can disrupt the socio-economic balance of a country. In the US, the government can raise healthcare fund by raising the taxes. Since all other nations addressed the issue without wasting time, it’s the turn of the US government to do the same.
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