Global Plutocracy: Global Income And Economic Inequalities

A cause of income inequality could be the jobs that people have. “In the United States, income inequality, or the gap between the rich and everyone else, has been growing markedly… (Income Inequality, para 1).” There have been no signs of income inequality changing for the lower classes, or getting better, therefore, it has become a very concerned issue upon Americans. “America’s top ten percent now average at least nine times as much income as the bottom 90 percent (Income Inequality, para 2).” Many people who have a big dream have jobs that pay minimum wage, which makes it hard. With the rich getting richer, it makes it hard for the lower classes to get a shot at being at the top with them. This also makes it hard to close the gap between the three classes.

First, the country as a whole must enlarge the amount of opportunity for its “most valuable assets – [the] people”, which would include redistributing incentives that would aid in interesting the youth in careers that would “lead to a more productive and healthy economy” (Stiglitz, “Of the 1%, by the 1%, for the 1%”). Next, the efficiency of the economy must be addressed because monopolies and special tax dealings continue to negatively affect the entire system. Finally, a modern economy that benefits society demands a government that invests in education, technology, infrastructure, and research rather than continuing to decrease the funding in these areas. These changes require the top 1% and the government to consider the negative effects of their decisions on the rest of the country instead of merely the positive outcomes for themselves. Once the drastic difference in the stratification between the top 1% and the 99% lessens, then the social inequality will also decline because the amount of prestige will no longer be as

The last issue concerning wealth inequality is the health and well being of the lower class. The high rates of social problems: lower rates of performance in school, life expectancy, incarceration, teenage pregnancy along with health problems like obesity and heart disease are directly effected by the United States high inequality. The reason for poor school performance is that children of the lower class typically do not plan on going to college because they cannot afford it. If they do not plan on going to college, they don’t believe there is a reason to put a lot of effort and succeed in high school.

The insurgents of globalization are exacerbating income inequality, within developing and developed nations. One of the most powerful country’s in the world the United States an Industrialized nation are allowing large corporations to seek maximize profits without regards for the local

I agree, that economical inequality brings the social inequality, where as a result, we would have a society of unequal opportunities. And this situation directly influence the future of the children, their chances to succeed in their lives and careers. We can clearly see that children with high status are

The first key idea from the materials is that social inequities and capitalism are intertwined. In the TEDTalks, while the upper class, or plutocrats, are typically living large, the lower classes are struggling to live. Additionally, due to the unfair system, the lower-income people are more likely to drop out

Vermont Senator and presidential candidate, Bernie Sanders, said it best when he said “A nation will not serve morally or economically when so few have so much, and so many have so little.” This quote perfectly describes the issue that The United States is currently dealing with: income inequality. Income inequality is the gap between how much money is made by the rich and everyone else in the nation. It also refers to the unequal distribution of wealth among people in a population. According to the Bureau of Economic Analysis, the gross domestic product (GDP) in the United States has steadily been rising, making it seem as though economic growth is stable (Inequality for All). However, it does not take into account the increasingly widening gap between the 1% and the 99% of the nation’s population. Government officials should pay closer attention to income inequality in The United States because ignoring the issue ultimately hurts American citizens.

Income inequality has been a progressively growing issue in the United States, even today. The problem dates back all the way to the Great Depression, although some researchers tend to think that it is older than that. The difference between the wealth of higher-income families and lower-income families has become a great issue. Many people, including our government, think that they know how they can fix it. They have tried time and time again to come up with solutions, yet we are still facing the same obstacle that we were almost one hundred years ago. The effects that this dilemma is setting forth for our United States’ economy, environment, and even our education is repulsing.

High income inequality prevents an economy from growing, so the current status of the wealth gap in the U.S. is dangerous to the future of the U.S. economy. In fact, the average income of the top 10% of the United States population is roughly nine times greater than the average income of the poorest 10% of the population (OECD). This widening wealth gap is a problem of extreme importance and failure to recognize it may lead to social problems such as a rise in crime and overall social unrest. A continuing rise in this wealth gap affects all U.S. citizens as the bottom 99% may lose opportunities in education and be exposed to more crime, and the top 1% may lose consumers as no one will be able to afford their products. Furthermore, due to this rising gap, ordinary children of the masses, who are from the bottom 40%, are being denied to educational opportunities because they cost more money (Ingraham). Regardless if a child is born into a wealthy or poor family, they are still born with the same attributes; however, it is income inequality that creates inequality in educational opportunities for children, which threatens the overall educational status quo of the nation. A major wealth gap in any society is strongly associated with significant problems such as greater poverty levels, more crime, and even poor conditions of health (Partridge and Weinstein).

In the United States, there is a huge income disparity between the richest ten percent, and bottom ninety percent. The American tax, and political system favors the top 10% while neglecting the middle and working classes, suppressing living wages and exporting jobs overseas. A society where working 40 hours a week will not put food on the table. If the average hardworking American is working endless hours to try and support their families which is just slightly above the poverty line, while groups of 400 individuals, who are heads of the top 500 companies and financial institutions, who if even work, is less than 108 days a year, and are proud owners of 50% of U. S’s entire wealth. This is the reality of the United

Income inequality is growing in the United States, and the problem is much worse than most people believe. For children, growing up poor hinders brain development and leads to poorer performance in schools, according to a study published this week in JAMA Pediatrics.

Education reform can be taken to educate the public on what exactly wealth inequality is and its effects on the United States’ economy. Changes such as expanding public education to all members of the socioeconomic ladder, further regulating charter and private schools, and ensuring the children of tomorrow are learning what is really happening in the United States through current events education can help solve the obfuscation of wealth inequality. Providing lower-cost education to members of the middle and lower classes could fight the decline of social mobility in the United States caused as a result of wealth inequality. Although education reform will certainly cost the United States in the short-term, long-term effects such as higher wages, improved health, reduced dependency on social welfare programs, and increased volunteerism are well worth the initial costs. Although investing in education is a viable option, there are other ways to solve the problem of wealth

First, the increased income inequality in the United States is due to increasing problematic issues in the education sector. Education plays an increasingly vital part in the economic success in the United States as technological transformations and globalizations increase. A weakening middle class leads to decreased improvements in the education system, while a stronger middle class leads to increased

Income inequality is a phenomenon that is undeniably real in our current world, and more specifically, the present United States. Canon describes how the gap between the elite and the poor has been consistently growing for many years and continues to widen (189). Whether the differences between the top and the bottom are a threat to current society is another story. Does income inequality undermine a democracy? Ray Williams argues that societies are strongest when they have a higher rate of equality while George Will challenges that inequality is the very basis of what make democratic processes. A. Barton Hinkle takes a Libertarian approach to the idea that inequality is threatening to democracy and how it can be fixed. Some threats that each article addressed were economic impacts, civility, and fairness. Overall, there is a definite need to evaluate whether the United States democracy is being threatened due to the continuous rise of the elites and the fall of the working class.

Firstly, the authors express that the wealth gap is one of the key issues that causes poverty and creates an abundance of inequality. Brink Lindsey, the vice president for research at the Cato Institute, writes “As of 2003, 80 percent of high school seniors from families in the top 20 percent of income enrolled in