Definition Of Income Inequality

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In my opinion, one of the most controversial topic in the recent election was Income Inequality. The real reason people are unable to talk others into believing them when they argue on the Income Equality is because not everyone knows the correct definition of Income Inequality. Income inequality means “unequal distribution of household and income in the economy. Income inequality is also presented as the percentage of income to a percentage of the population” ( “Income Inequality”) which means the difference between the amounts of money each family spend on themselves. On the other hand, economic inequality is measured among groups in the population or between countries. (Wikipedia, “Economic inequality”) In my opinion, income inequality is a problem that is faced by every country, but it is not a problem that should be tackled immediately. “The rich are money-making machines. Today, the top mega wealthy the top 1% earn an average of $1.3 million a year. It's more than three times as much as the 1980s, when the rich "only" made $428,000; on average… Meanwhile, the bottom 50% of the American population earned an average of $16,000 in pre-tax income in 1980. That hasn't changed in over three decades” (Long, Inequality in America is getting worse); state that the way the United States economy has been it is a home of many rich people. One of the downsides of living in US that top 1% earning are increasing dramatically every year, whereas the bottom 50% of the population

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