Issues Related to The American Dream

The American Dream
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The American Dream
The American dream is one of the fundamental elements of the United States that makes it a force to reckon with in the entire world. The American dream encompasses a wide array of concepts, but it concisely refers to the collective aspiration of Americans to prosper and improve their lives (Gale Opposing Viewpoints Online Collection, 2022). To a considerable extent, the American dream is enshrined in the European Enlightenment. This philosophical movement began in the 17th century and ended in the late 18th century. Enlightenment proponents placed profound value on individual liberty as opposed to aristocracy. Even though the term "American dream'' did not gain popularity until the 20th century, its sentiments tremendously inspired most of the founders of the United States. The tenets of the idea became integral to the national consciousness and earned an elevated spot in the Declaration of Independence. One significant tenet of the American dream is the achievement of material success. Many observers contend that the same is achievable through hard work. By extension, it means that the U.S. economic system is fair and that people's rewards depend on their efforts and individual merit. That notwithstanding, the idea continues to generate heated debate revolving around its viability and whether it requires a new definition.
One contention that continues to rage on regarding the American dream, especially the achievement of material success, is whether anyone is capable of achieving it. Before embarking on ventilating whether material success is feasible for everyone in the United States, it would be prudent to look at what material success implies. In layman’s language, material success refers to the accumulation of possessions, wealth, and other external markers of prominence. That said, the question of whether everyone can achieve the same in the United States comes to the fore. Perhaps one can conclusively answer the question by outlining the outstanding factors that can influence material success among the United States’s citizens.
One such factor is government policies, such as taxes, employment opportunities, and laws. Just like any other government, the United States government uses the tax system to raise revenue to fund its undertakings. Additionally, it uses taxation as a vital tool for reducing poverty, cushioning citizens against risks, and offsetting the escalation of market-driven wealth inequality (Looney, 2021). Over the years, the federal government has initiated several programs that have substantially enhanced the incomes and well-being of low and middle-income families. They include the Earned Income Credit Tax (EITC) and Child Tax Credit (CTC). However, contentions still abound that changes in tax policy incline advantageously toward high-income taxpayers. To be precise, the government has reduced tax rates on assets and income that are seemingly critical to the wealthy. This has effectively escalated inequality by widening the chasm between the poor and the wealthy, which, by extension, has diluted the efficacy of taxation.
Regarding employment, the go...