Coronavirus has affected everyone, and people are upset with the widening wealth gap especially in the US for many years. However, the widening discrepancy between the wealthy and those who are not has been increasing. James Gutierrez talks about inclusivity and is committed to his career to highlight the imbalances and establish platforms for closing the gap.
The Federal Reserve records that about 1% of US citizens account for 29% of entire wealth and in case the group is extended by only 9%, the wealth grows more. The top brass in America accounting for 10% earn twice as much as what the rest make combined, and the numbers are astonishingly staggering.
The figures are enforced by a certain challenging system that ensures they are placed because the AEA claimed that the tax system in 2018 was illiberal at the top brass. The wealthiest individuals remitted an average lower tax rate unlike the macroeconomists who paid about 29%.
Closing the wealth gap has been disappointing and people are tired and are not waiting for the leadership to enforce the right measures. Instead, angry citizens will enforce a balance and minimize the wealth gap. James Gutierrez retaliated that the chaos can even start in the middle and move upwards.
Caring ventures can, therefore, assist in bolstering the lower-income earners to get them in stable positions as well as lobbying for certain regulations that back up the respective changes. James Gutierrez claims that a majority of financial services target stable individuals and so they are liable for loans, credits, as well as better banking interactions.
James Gutierrez is the founder of many fintech ventures like Aura and Oportun. People without impressive credit scores can get loans as well but higher interest rates, thereby triggering default or other unnecessary hardships especially for people trying to stabilize their financial standards.