Final Exam News Story
Final Exam News Story
Final Exam News Story
- What is your name, age, and profession?
My name is William Fernandez. I am twenty-nine years old and my profession is that of a marketing representative in a leading marketing firm that specializes in marketing of sports merchandise throughout the country.
- Where were you born and where do you live?
I was born in Cuba. I moved to Miami in the year 2004 after attaining eighteen years of age and I acquired a temporary job at a local store. I still live here up to date.
- What is the American dream according to you?
The American dream to me is about the ethos of our land in which success and prosperity opportunities are contained in our freedoms and achieving social mobility from hard work. It deals with achievement regardless of an individual’s social class.
- Do you understand the principles behind it?
I understand the American dream to be a proclamation that all people were born equal and the creator endowed each of us with inalienable rights that include liberty and pursuit of one’s happiness through effort and sacrifice through honest living.
- Have you attained the American dream?
I have not attained the American dream yet. I believe I have not achieved the ability to attain prosperity in search of my own happiness. I have not realized the fuller life with opportunities despite my social class, race, and ethnicity.
- Why not?
I have not gained social mobility even though I put in hard work at my place of employment. This is due to the continuous struggle to attain a comfortable life whilst providing for all my needs and preferred lifestyle demands.
- Describe the factors that have hindered you from achieving it.
I have not achieved the American dream due to a number of factors. Health care is not essentially free and we have to pay more for the services that we receive. The income we receive after taxation is still low.
The number of hours that we input into work has generally increased but this has not translated into increased pay. In fact, an American worker puts in on average, 4.6% more of work hours as compared to the Canadian counterpart.
This is 21% more that that of a French worker and 28% more when put in comparison with a German worker. The average American lives for a shorter period when compared to Canadians and Europeans according to recorded mortality statistics.
- What are the results of factors you have described?
All these factors have put a strain in achieving the American dream coupled with financial effects of the recession of 2008 that has seen an increase in pressure of available resources while the market trends on job availability have stiffened.
- Do you think your children will achieve the American dream?
I do not believe that my children will live the American dream. There is concern in inequality with rich getting richer as the poor get poorer in equal measure. The country has grown into one with least equality in opportunity.
- Why not?
The economy appears to have a bleak outlook on future growth, creation of wealth and distribution of relevant resources, equally to the citizens. There is increased inequality with the income gap widening as each day passes.
The growth of the economy has been usurped by utilities of top 1% in the nation. The bottom 99% of American people continue to struggle and this is where my children will be categorized with continuous performance of the economy.
In terms of education, the outlook between the rich and poor casts a shadow of doubt on the progression of poor children education. It is said that 30% of children in the bottom 25% of incomes register in fewer numbers.
Subsequently, even fewer children are able to graduate from the same schools in which they were enrolled. Race too has a role in the gaps realized among students. The white children are generally more educated as compared to other races.
- How is your life better or worse in America compared to your homeland?
Life is definitely better in America for most of immigrants. Coming from a country faced with several issues of civil unrest, poor infrastructure, economic instability, and poor governance, it is a different and positive experience when compared between the two.
In America, there is provision of basic health care and services, the economic situation allows for income generation and independence. Americans carry a symbol of prosperity with freedom and well-devolved infrastructure that is present in the whole country.
With provision of basic amenities like water, security, political stability, and proper governance, the life is much better. Citizens in America get to enjoy the freedom and protection of their rights. Americans have a well-established democratic history of governance.
In our homeland, all these described above were neither easily achieved nor guaranteed with the regime at the time. There was constant fear and negligence in part of the authority while resources were not adequately made available to all.
- How did the recession affect you?
Recession had a tremendous effect on the family setup. I lost my job during the year 2009 and this translated to depression, as maintenance of family income was hard to achieve. We had to borrow from relatives to stay afloat.
We had almost put up our home for sale in order to raise money for survival of my siblings in school and obtaining of household items. Lifestyle changes had to take place like reduction and cancelling of extra curricular activities.
All investment plans were shelved although there was temptation to invest in reduced stocks. This was affected by lack of expendable income hence investment could not be feasible. In terms of credit and debts, settling bills was a struggle.
- Do you expect things to be better in the coming years? Why?
I expect things to improve slightly in coming years as deals with the economy. The GDP of the country looks to rise gradually from the present measures and this will present a positive outlook towards employment and creation of jobs.
The taxation levels by the government are not on an all-time high and therefore companies should make some profit with time, while the government will record a slight increase in corporation tax. This will depend on the action taken consultatively.
In strengthening of house prices, housing transactions are on a positive trend from years of the recession in 2008. Since the expenditures have been low, the value added tax payments on basic commodities have reduced with the decreased spending power.
With the financial outlook of the projected market standards, increased stamp duty and automatic fiscal stabilizers, the government debt will reduce in the years to come backed by improving economic conditions.
- Are there concrete measures the federal government could take to improve the economy?
The federal government of United States can take precautionary measures to ensure that the economy improves. The government should increase tax levied on big corporations, the top rich list of individuals while reducing tax on small businesses and lower income people.
The small businesses will encourage growth and development of numerous jobs at lower levels while taxation of the bigger corporations will increase hiring of individuals in employment as compared to unemployed. This will encourage cuts in shipment of jobs overseas.
The government can introduce business tax credits especially to businesses, which acquire new employees over time. The large businesses will improve on increased activities from small businesses. The government can compel large enterprises to outsource overseas jobs back to the country.
The government can also increase its spending on expanding its fiscal policy. This will create induced employment, which will see the economy improve as the years progress. Checks and balances on the fiscal policies should be made mandatory.
The federal government should increase the bonds used to bailout the big corporations that are lurking in danger of bankruptcy in order to salvage their operations and maintain employment to the people. Through this, income will be retained for spending.
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