Research shows that around 10% of Americans above the age of 18 are ‘politically disengaged.’ Most people ’don’t want to get involved with politics because they think it ’doesn’t concern them, but that ’couldn’t be further from the truth.
Politics has its influence on everyone, whether they like it or not. This is why it is essential that people, especially those of voting age, are active and knowledgeable about politics. ’Here’s why you should take the time to read up on the latest political news and issues.
It influences your finances.
According to the International Monetary Fund (IMF), countries with higher democracy and freedom show lower inflation rates. Whether you are an entrepreneur or a working professional, high inflation rates would affect your day-to-day expenses. It dictates the prices of everything, and this directly affects your spending ability. If prices keep going up every year because of political instability, even a higher earner will have a hard time.
For those who engage in stocks and investments, you will be familiar with how politics influences assets’ interest rates and values. It can raise or bring down returns on investment. Even if ’it’s just American politics, the whole international market is affected, which is why so many countries keep a close eye on what is going on.
For people who plan to put up their property for sale, politics has an impact on your real estate’s value, as well as ’people’s ability to borrow money. If the public has a hard time securing loans or is having employment issues, it is more difficult to sell your home at property value. This is one example of how the situation of the community can inconvenience individual persons.
It shapes your opportunities.
From your education to employment, politics can impact the number of opportunities available to you. For instance, some politicians may promote lower tuition, making it easier for you to pursue higher education with less debt. In the past few years, universities have seen widespread budget cuts to their funding, which has forced them to rely on outside sources for finances. It can negatively affect individual schools because it means less money on programs, projects, and scholarships.
When it comes to unemployment, a government that actively helps businesses significantly reduce the unemployment rate. A more politically stable country will also attract more foreign investors and companies, creating more jobs and opportunities for people. They will see that the country is in good condition for growth and be more motivated to set up operations.
On the other hand, uncertainty and conflict can discourage companies because of the risk. Politics also defines the amount of taxes and fees charged for foreign organizations, which is another factor they tend to consider.
The effects can last for generations.
If you have children and are concerned about their future, then politics is something you should care about. Changing the status quo is a long process, and the policies made today might be difficult to reform in the future. Politics can make it harder for younger generations to achieve the things we have today.
For instance, ever-growing taxes can make it harder for people to make a living, let alone purchase a house or car, in the future. On top of that, college tuition has become so expensive that many have chosen not to pursue it. Those who do are in a depressing amount of debt that will take them a lifetime to pay back. Politics can influence policies that may take away or reduce these fees, making students’ lives simpler and more manageable.
It can define your quality of life.
Politics has a role in everything in our lives. It is present in everything that requires a decision by someone in power. In a community, politics can help build better schools, infrastructure, and transportation. All these will potentially improve your life. When you choose people with good intentions and care about the community, they give back to voters by finding ways to enhance the latter’s quality of life.
Similarly, political decisions and government policies give you more rights and even out the playing field. It can redirect funds to programs that benefit those that need them. Politics can increase grants and scholarships for people who cannot afford it. In the economy today, education is highly valued, helping you improve your overall socioeconomic status.