Large Income Inequality In The United States

Income inequality is one of the greatest problems facing the United States today. It is important for everyone to understand what this means and why this is a problem.

Income inequality has been an ongoing issue that has affects many American citizens for decades. Some Americans are more affected by income inequality than other Americans. This is an unfortunate fact, but there seems to be no easy solution and it seems it is getting worse. American citizens are losing hope in the system, and their voices screaming for change that benefits all, are rarely heard.

Income inequality in the United States has been increasing gradually as from the 20th century where there was economic stability. It is estimated that around a quarter of the American worker population receives not more than $10 in an hour. Through this condition, it creates an income that is below what the federal poverty level demands. Those who receive low income include the fast food employees, cashiers, nurse's aides and many more. Other individuals get good payments which are above $10 per hour. Wealth inequality in America is quite common as there are those who are the major economic block and those who can’t afford even the three meals in a day. The social issues that income and wealth inequality might cause in the United States include poverty, household debts becoming high, high crime rates, no health insurance for the low-income families, high mobility rates, high crime rates and school dropouts.

Imagine all the wealth in the United States. Roughly 84.9 trillion dollars, a pretty big number to wrap your mind around, right? Now imagine a third of that number concentrated into the hands of only 1% of the population of the United States. Not only would this seem unfair, but also immoral. Sadly, this unfortunate situation is a reality in the United States. Of all the political issues that face this nation, wealth inequality is often overlooked. This type of inequality is defined as the unequal distribution of assets among a population. The United States has one of the highest gaps between the upper and lower class out of other developed countries. Resolving this issue is a complicated

Living in a peaceful world would mean that no one (and I mean NO ONE) would go hungry or be without basic medical care; denying individuals access to food, clean water and basic medical care is both in-humane as well as ignorant. The inhumanity of denying food to individuals who cannot by no fault of their own feed themselves when we have supermarkets, refrigerators, and pantries over flowing a bounty of food. Turning away from a person who is hungry, while the US as a nations spends more on its household pets than it does in donations to local food bangs demonstrates ignorance of our understanding that perhaps the stem of violence both here and overseas could be stymied if we’d only offered not only bags of rice but a safe place to grow

In order to correct our economic system’s faults, we must understand that the problem is multifaceted and won’t improve unless addressed as such. This will be rather difficult considering how the U.S’s system is constructed and the range of problems facing us. The problems facing us not only include low wages but inflated prices for higher education, food, necessities, and cars which are technically a luxury but are sometimes needed to obtain and keep a well paying job due to gaps in the public transportation system. Personally, this has affected myself because the private security industry is riddled with jobs/schedules which make taking public transport difficult or sometimes impossible. There are others like myself who then have a more difficult time looking for stable work that’s also accessible on transit.

As an American, we revel in our freedoms. Not everything is free, however, we have laws that were created for safety. They help keep everyone happy, alive and well. The foundation for these laws came from the founding fathers; they wished for Americans alive then, alive now, and alive years from now feeling safe and free. However, there are fatal flaws in the documents created by the founding fathers. These documents are not effective in establishing and preserving freedoms of Americans because they confined the definition of a valued American to white males as well as allowed the means of corruption to enter our laws through lack of rigidity.

The aim of this essay is to analyse the impact of the fault lines arising from the domestic political stresses, especially in the United States, through various examples and to assess its role in the conditions that eventually led to a Financial Crisis in 2007 and 2008.

One of the main topics discussed during this political science course is the political and economic inequality that has recently risen to staggering levels in the United States. Although political and economic inequality seem to be some of the most pressing issues we face today, little has been done to close the gap between the middle and upper classes. By looking at how our government and society behaves, one can see why the inequality barrier is such a difficult obstacle to overcome. Politicians may be more focused on staying in the good favor of their party than their people, but they are still elected by the majority. If more citizens took a more proactive approach to politics, social movements would be more successful and more balance would be brought to the political spectrum; however, money, powerful officials, and a general lack of interest prevent the government from maintaining a system that benefits everyone equally.

The main key idea in this film is that America’s economy has nearly doubled, yet almost all of the benefits have went to the top 1%. Robert Reich touches on the growing inequality between the middle class Americans and the top 1%. He talks about how in the last 30 years America has just been getting richer and richer. Despite all the success our country has been having somehow the middle classes rates have flattened out and they are being taxed much more than the richest people in the nation. He also talks about how the average middle class citizen has some form of debt and it is continuing to grow. The reason this is happening is because people in the middle class keep digging themselves deeper into debt just to live comfortably. If America keeps heading down this same path than eventually there will be an economic crash.

In the past few years, income inequality in the United States has become a familiar theme of national debates, especially during times of presidential elections. Bernie Sanders advocated for a raise in minimum wage, while Ted Cruz offered a national flat tax plan. Hilary Clinton called for a tax raise for the wealthy and an increase in the minimum wage, while Donald Trump planned out a comprehensive tax reform plan including lower tax rates for the US workforce on his campaign site. All of the candidates, running or eliminated, have addressed the topic to various extent; yet only a few focused on how income inequality directly affects the general physical and mental health of the labor force, which may eventually result in economic and social

This article informs and convinces the audience that only when the community can join forces to eliminate social inequality, can the working poor in the US have more opportunities to climb up the social ladder. Working poor in the US are much more diligent their European counterparts as they have a higher tendency to worker longer hours and retire later (Lam, 2017). Unfortunately, neither can they improve their living standard, nor experience an upward mobility thanks to the lack of opportunities. This phenomenon explains why the majority the respondents have become skeptical towards the importance of assiduousness to the social status and living standard advancement of the impoverished in a poll conducted by the Strong, Prosperous and Resilient

Income distribution is one of the effect of the economic growth. The economic growth somehow results the income inequality to a country which is clearly can be seen as a large impact. Income inequality is a valuation of the distribution of wealth in a households. It is a conditional comparison of the gap in household incomes in a given state, region or a country. Income inequality is calculates the extent to which the income distribution in a country deviates from perfect equity. There are many obvious ways for income inequality happen in a country or region. One of common factor for income inequality happen is investment income earners are payed less taxed than others who receive their pay check which is unfair to the citizen of that country.

Income inequality has deeply affected the economy and our society for decades. The socioeconomic inequality gap in the United States has been getting higher and higher since the late 1970s, creating more unequal opportunities for millions of people in the lower and middle class. It seems as though the lower classes families are getting crushed, while the top 1% are on top of the system. The system makes it hard for those from poor income families to succeed. In the article “Confronting Inequality”, author Paul Krugman explains how and why a big gap between the wages of the top 1% and the middle class is such a huge problem for the economy. He believes that this inequality will affect the standard of living for the middle class. Another scholar who shares a similar view and may agree with this statement is former Labor Secretary, Robert Reich. In his documentary, Inequality for All, like Krugman, Reich discusses his beliefs and knowledge about how the unequal distribution of wealth between classes is affecting the economy greatly.

Many economic researchers cannot agree if income inequality is increasing or decreasing, or what these changes ultimately mean for the United States. Over the course of this semester, we have heard arguments from both sides of this debate. Based on the information we have received in this class and the information I will present in this paper, I will argue that income inequality is an ongoing problem in the United States and that it damages the very idea of the American Dream. The meaning of the American Dream has evolved with every passing generation, but many still equate this idea with freedom and prosperity. The income inequality gap is stunting American’s access to better education and healthcare, which is ultimately harmful to our society and economy.