The coronavirus pandemic has exacerbated certain societal issues, and in particular the wealth gap the United States has contended with for generations. Innovator James Gutierrez has spent a massive portion of his career working to narrow this gap.
As of this writing, the Federal Reserve estimates that the richest 1% of Americans possess roughly a third of all financial wealth. The richest 10% bring in twice as much as the poorest 90% earn put together. It can be claimed beyond a reasonable doubt that wealth inequality has reached threatening levels. In the meantime, the 400 richest people in America in 2018 paid less than 29% in income taxes on average. Facts like this explain why people like James Gutierrez are saying that the system is broken.
To begin fixing the system, James Gutierrez has proposed implementing a so-called “middle-up” push. To begin with, companies capable of providing improvements to the status of low-income homes should do so. Lobbying for permanent and effective changes in regulations and law is another step in the right direction.
Gutierrez explains how it’s actually become expensive to be poor. Those who aren’t fortunate enough to have excellent credit are often subjected to unfairly high interest rates, unbalancing the degree of hardship experienced throughout society. To counteract this dilemma, Gutierrez and companies he’s tied to have used groundbreaking technology to provide credit scores for the underprivileged. He also presided over the implementation of low-interest loans in poor areas to reasonably encourage financial stability.
Another project that’s in the works is mobile technology geared towards providing insurance to those who can’t currently afford it.
Gutierrez recommends increased transparency in the business world. Companies which are doing good and helping the public stand to benefit themselves by making the knowledge of what they are doing more accessible.
Learn more about James: https://www.crunchbase.com/person/james-gutierrez