Outline:
INDIVIDUALS
Housing crisis:
Reason: prohibitive accommodations
Result: cannot find a house ⇒ homelessness
Mental illnesses:
Reason: heavy burden of feeding a family
Result: overwhelmed or suicide
SOCIETY
Lack of human resource for booming industries
Example: hotel industry in Nashville, America
Solutions:
Levy new taxes on rich people
Control inflation
In this day and age, there is a worrying trend that the cost of living keeps increasing for citizens worldwide. From my perspective, although some problems have arisen as a result of this trend, some feasible measures can be taken to alleviate the situation.
People are experiencing many detrimental impacts as the cost of living is excessively raised. One of the grave consequences for individuals is housing crisis. Due to the prohibitive price of accomodations, the low and middle class could not find a place to stay for themselves and their families, thus giving rise to higher rate of homelessness. Moreover, people are at greater risk of mental illnesses. Given the heavier burden to earn sufficiently to feed all of their family, working people will possibly feel overwhelmed and even worse, commit suicide to escape their exhaustion. In terms of society, there could be a lack of human resource for booming industries. For example, the growth of hotel industry in Nashville, America, where the cost of living is at an all-time high, is hindered because of a shortage of low-skilled labor.
There are several actions that can be taken in response to this trend. To begin with, the authority can levy new taxes against the wealthier citizens so as to provide more financial support for poorer ones. Secondly, the government should formulate plans to tackle inflation. Since inflation is the factor that increases people's daily expenses and reduces their spending power, the government could keep the cost of living at an acceptable level if inflation were well-controlled.
In conclusion, notwithstanding the negative effects brought by the rise in the cost of living, the government can take steps to mitigate this issue.
Vocab highlight:
grave (adj): seriously bad
housing crisis: a situation where affordable housing becomes extremely scarce
prohibitive (adj): too expensive for most people
booming (adj): having rapid economic growth
be at an all-time high (adj): be at the highest amount ever
hinder (v): to limit the development of something
levy (n): to impose sth (tax, fine…) on sb
formulate (v): to develop details of a plan of doing sth
inflation (n): a continuing rise in the price, causing a reduction in the value of money
spending power (n): the degree to which people have money to buy products and services
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