Practicing Opportunity Identification, Cont.

Economic

11. Tax Reform

·       I found this opportunity after hearing President Trump talk about the possibility of reforming the tax system. I think that there is an opportunity to improve here because we currently have a problem with our tax system. I believe that there is opportunity here because many people have problems with the current tax system and want it to be changed. Some people believe that we have a serious problem with taxes. They believe that the poor are getting too much money taken from them, and that’s why they are struggling. The customer that would think that tax reform would be good would be the poor and middle-class people. This is because these two groups of people are getting taxed very heavily and think that the government should ease back on them. I think that this opportunity will be difficult to exploit because there are a lot of people that would be affected by the changes. In addition, I do see a clear problem with tax reform because no matter how the tax system is, not everyone will be happy. If it is changed from the current system, you will see the government get mad because they won’t be collecting as much money. Also, the rich people will be mad too because they will have more money taken then anyone that pays taxes.

22. Minimum Wage Change

·       I found this opportunity from seeing online and on the news that many states and areas will attempt to raise their minimum wage. I think that there is an opportunity here because many people believe that they aren’t making enough money off the current minimum wage in some areas. It is clear that if people are making more money, they will hopefully be more stable and be able to contribute to the economy in a more positive way. The people that would appreciate this the most would be younger people that aren’t making a lot of money and can only work for minimum wage. Also, people that can’t get jobs other where because of criminal records or limited experience would appreciate a raise. I think that a raise would be difficult to exploit because with increased pay comes inflation. If everyone raised minimum wage, it would just lower the value of the dollar and make it more difficult to buy things.

Regulatory

11. Alachua County raising age to buy tobacco to 21

·       I found this opportunity when my friend sent me an article saying that Alachua County just recently passed a law that no person below the age of 21 can buy any tobacco products. I think that there is an opportunity here to prevent minors from becoming addicted to nicotine because there is currently a big problem with younger people becoming addicted to nicotine through things like e-cigarettes. I think that this opportunity is for younger people because it hopefully will prevent them from becoming hooked on nicotine products at a young age. Because of this law, it will make it more difficult for kids to be able to purchase products that can be harmful to them. Hopefully this law will be easy to exploit so the early addiction can be prevented, however I feel as though it may be easy because minors can still get alcohol easily although they may be far underage.

22. Cyber Security

·       I came up with this opportunity after seeing all the attacks that have recently been happening with large companies. This is a serious problem because as we grow as a country, we become more dependent on the fact that technology is growing and becoming way more important in our day to day lives. I think that this opportunity exists because people that may feel unsafe with their information online may feel safer if they are ensured the safety by companies. If more people can feel safe online, then they will be more willing to buy things or put their information in. The people that would benefit this are the customers and the companies. This is because the customers would be more willing to put information online if they knew it was secure. For companies, they would be able to ensure their customers information is secure. I do think that this would be difficult to exploit because there is always going to be someone that is going to be able to get into the system and potentially steal or tamper with the information online.