Income Inequality In America

James Madison once stated inequality of the rich and poor predicament to be “evil” and believed that the government should avoid an “immoderate, and especially unmerited, accumulation of riches” (Johnston, 2016). As one of the founding fathers of our nation, James Madison had a concern about the separation between the rich and the poor. He felt the government should do what it could to avoid the separation, which one can infer that he meant for the government to tax the rich by a greater percentage, thus reducing the financial burden on the poor. A rift has always been present between the rich and the poor throughout history. Depending upon the job, the working class may or may not make enough to support a family. At this point, the

Income inequality describes the extent to which income is distributed unevenly among residents of an area. High levels of inequality indicate that a small number of people receive most of the total income, and that most people receive only a small share of the total. There are many advantages and disadvantages associated with the inequitable distribution of income.

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.

Wealth inequality is a controversial topic because money distribution in America doesn’t ‘seem right. The upper class possess most of the wealth in America and the bottom don’t nearly get as much.

Wealth and Income Inequality in America The United States of America was founded upon the ideals of freedom and equal opportunity for all individuals. Many people strive to achieve the American Dream by enhancing their socioeconomic status. Today, many people argue that these rightful values are no longer relevant due to the growing income and wealth disparity between different social classes. Income and wealth are two social issues that are commonly misinterpreted; although the two concepts are related, the overall concepts are a little bit different.

The consequence of having income inequality for society is many people forced into debt, undermining long-term economic growth, undermining the hope of living the American dream, Americans living homelessness and less safety because of more crimes. American’s who are poor will not have enough money to live day by day and will have to survive by stealing from the rich which causes more problems in a society. Debt occurs when the middle class try to live a lifestyle similar to the rich and live so much out of

Today, America is considered one of the most developed and advanced country in the world. On top of everything, this promised country is well-known for its strong and effective economic free-market system. The foundation of the United States is based on the belief of freedom and equality, which is enjoyed and practiced by most of people in the “Country of Liberty.” Unfortunately, the idea of equality does not apply to every citizen of the U.S. In fact, the problem of inequality in America has remained a controversial issue for centuries. Specifically, today, the gap of wealth between people in the United States is dramatically increasing. Emmanuel Saez, an economics professor at UC-Berkeley states that: “Wealth inequality in exploding, constituting a direct threat to the cherished American ideals of meritocracy and opportunity.” Wealth inequality is undoubtedly the biggest problem the American society is facing.

The economic inequality between all Americans is an issue because it is hurting the market. Starting in the 1970’s inequity has been causing damage to the economy and it is “just getting

Twenty years into democracy, the high poverty rates of the post-Apartheid government is an indication of the high income inequality and also a clear view that improper policy formulations or planning. The ANC at some point forgot to create policies which could be consider or uplift ordinary citizens instead of benefiting those who are already better off, and to add up, the current situations encountered by the current leadership is an indication that they have not advanced to narrow down the income or economic inequality gap between the rich and the poor. However, let’s give them credit that at least there are few rich black people than before even though there still remain the dominance of white people on the economic platform of getting

In conclusion income inequality is bad because of politics and people who are poor don't get as much respect as the rich.

The purpose of an economy is to produce enough goods and services to assist in the preservation of mankind. Furthermore, an economy is a more organized way to provide large populations necessary resources for consumption without wasting them. Per Whitefoot (2015), “a national survey, 70% of Americans believes the U.S. economy is permanently damaged, while 84% do not believe the economy has improved since the recession ended in 2009.” Though the economy may not collapse, as of yet, they are very signs that our economy may experience some type of decline. According to Monckton (2015), the “U.S. public debt is $18.3 trillion.” Moreover, the American dollar is gradually losing its value. Yes, our economy continues to serve its purpose of providing goods and services to its population. However, when there are instances of economic mismanagement, our economy tends to fall short of benefiting its people. Per Monckton (2015), “America is already not merely in recession but in depression. One citizen in six gets

“Income inequality in the United States has soared to the highest levels since the Great Depression, and the recession has done little to reverse the trend” (Lowrey). Economic inequality has sparked many voices, some which have even been grappled in literature. This issue is not only effecting the people who face these barriers, but as well as the United State’s financial system, which has made economic expansion difficult to accomplish. By executing simple actions, the imbalanced gap can be narrowed. Such actions include raising the minimum wage or increasing taxes on the wealthy.

First, we will look how income equality is distributed unequally throughout the rich and poor. Second, we will look how taxes are distributed between high-income and low-income families. Finally, we will look at how income inequality affects our society. Sadly, income inequality affects everyone except the rich and we need to do something about it so we can change our future.

The conversation about economic inequality is not one that only exists in today’s contemporary society but rather one that continued through time, evolving with the changes in different societies. From before the existence of agrarian societies through the industrial revolution and even up till today, the topic of economic inequality is one whose moral implications to the equality of all individuals has been and always will be questioned. Today, it is one of the most debated issues in the United States. Regardless of the terminology used to discuss it—economic inequality, income gap, or wealth disparities—it is heatedly conferred and everyone has an opinion on it. Is it right or wrong? Should it exist? Is it justified? Does it corrupt our

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.