President Obama is calling the issue of income disparity between the top one percent of Americans and the bottom one percent of Americans the defining challenge of our time. Over the past few decades, the income disparity has seen a large increase. The income growth for the high earners has risen sharply while the income growth for the bottom 20 percent of earners has been increasing far more slowly.
Republican candidate for U.S. Senate, Mark Jacobs, said that he agrees that the income disparity is growing and that the issue is a challenge we must tackle. Jacobs said that he disagrees with the president on how it should be handled. Jacobs said that instead of creating more government programs, like giving people better access to food stamps and similar programs, that we instead need to focus efforts on strengthening the economy and providing better opportunities for better, higher paying jobs.
Jacobs added that another issue that is affecting the income disparity in the U.S. is the cost of healthcare. Jacobs said he did not agree with much of the Affordable Care Act program but that the law was not all bad.
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