There is a problem plaguing the United States: economic inequality. The financial gap between the rich and poor is widening and it only continues to increase. Not only is the rich becoming richer but the poor is becoming poorer. If some type of change doesn't happen it will cut the middle class. Although this is not a concerning matter to some, to others it's a huge concern and it continues to be a daily problem. Because economic inequality hurts the United States economy, the government should take steps towards reducing the gap between the rich and poor.
It would be within reason to assume that when it comes to jobs the most qualified individual should get the position. However, the sad truth is that in today’s society this is not always the case. We would like to think that this nation is beyond racial barriers, glass ceilings, and students left behind, but the truth is we are not. Inequalities like these are some of the main reasons America has such a large wealth gap, and has become stagnant when it comes to upward mobility. We know that inequality of opportunity is largely at fault when it comes to individual gains in upward mobility yet it continues to happen. What is upward mobility and why do we care? Upward mobility is defined as “rising from a lower to a higher social class or status”
Imagine that the U.S economy is a group of ten people making a cake. Despite the fact that everyone contributed, one person would take 90% of the cake. The other nine would be left to fight over the renaming 10%. In what universe would this be a fair situation.
Education still remains the institution that indorses equality of opportunities in America society as the textbook explains. Even though education diminishes inequality among individuals with different backgrounds, inequality still exists in the sense that not everyone who graduates from high school has the same opportunity to attend college. Individuals born into wealthy family will have more opportunities in attending college compared to someone born to a poor family. Although, opportunities are more limited in America, having education will compensate those that do well in school by rewarding them with life opportunities. Social class, race, and gender play a major role for education success, experiences, and outcomes.
Income inequality in America has been a major issue for years. We can see the uneven distribution by comparing one of the world’s wealthiest man in Bill Gates to the average person. He has made over 50 billion dollars in his lifetime. Comparing him to the average person who makes 37 thousand dollars a year. Although, unemployment rate has decreased in the U.S, the gap between rich and poor in this country has dramatically increased. There are many contributions to the gap, such as different education levels among citizens, living conditions, taxes, difference between salaries, and more. Income inequality in the U.S needs to be addressed. This horrible problem in our country
It can be said that money is power in the United States, and this is brought out in the essay, “Class in America---2012” written by Gregory Mantsios. He says that even though many Americans do not like to discuss class, “it can determine where people live, who their friends are, how well they are educated, and what they do for a living” (Mantsios). Many Americans do not speak about class type, and most find it unacceptable (Mantsios). Unfortunately, we can see that there are laws that are built to help and better the wealthy, while it cripples the rest of us. According to the Economic Policy Institute, “The richest twenty percent of Americans hold nearly ninety percent of the total household wealth in this county” (Institute) Gregory Mantsios without reserve describes the majority of people are at a disadvantage in their social class, while the upper class is compensated.
The land of freedom, the United States, is the Promised Land for all. Its citizen can be much as prosperous as they want. Nonetheless, a phenomenon has occurred gradually that has changed the economy, social levels, income, and wealth of all Americans. This is called inequality. Inequality has become a social problem since people has not raised their voice take advantage of voting, large corporations as CEOs who take instead of give.
Americans today live in a distinctly unequal society. Inequality is now wider than it used to be in the last century, and the division in income, wages, and wealth are broader than they are in other developed economies of the world. Wealth inequality is the imbalance of wealth or income within a society, and it is one of the most vital economic challenge the US is facing today because the distribution of wealth is more dispersed, making the inequality in wealth distribution at its highest. While the matter has been discussed for many years, the actual income disparity in the U.S. has heightened and is now verging on an extreme gap that portends to impede long-term economic growth. The huge gap between the wealthy and poor is squeezing the U.S. economy, the wealth gap threatens economic growth by diminishing social mobility and producing a less-educated workforce who are not able to compete in the global economy. unrestrained level of income inequality causes political pressures, it discourages trade, investment, and hiring. The present level of income inequality in the U.S. is shrinking GDP growth, and the world's largest economy is struggling to recover from the Great Recession.
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.
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.
I believe inequality in the united states is increasing, here is why. The kuznets curve i formula showing that inequality increases during the early stages of capitalist development, then declines and evenutally stabilizes at a relatively low level. According to studies the united states inequality peaked before world war II, declined through the 1950s and remained relatively the same through the 1970s. Industrial societies helped reduce inqualty with thngs like, health insurance, welfare, this gave people chances to move up. In the recent studies there is evidence that some capitalist economics have entered a fourth stage, where inequality is increasing. In the united states during the past 30 years the rich have gotten more richer, middle
Money is what makes the world go around. From day one, people are assimilated with the idea: to consume, one must spend a medium sufficient enough to receive an object that is desired. Every country has that medium. The Europeans have the Euro, the Japanese have the Yen, Chile has the Peso, and the United States has the Dollar. However, this idea of “getting and spending” has done more harm than good in specific countries. Particularly, in the United States there has been a growing issue of income inequality. The textbook definition of income inequality states: the difference between individuals or populations in the distribution of their assets, wealth, or income. The political problem itself, nevertheless, is deeper and
Wealth inequality is already shaping American politics and society, and has the dangerous potential to be the defining problem of the upcoming generation. A sizable cause for wealth inequality in America is a dire lack of
Social inequality exists in the United States through the Elite’s power to maintain their dominance in the United States capitalist system. The Elite Ruling class is made of the upper class and this class of individuals share similar ideology and are the members of the United State’s Superstructure. The Elite Ruling Class members of society are the decision and policy makers in the United States. Research and history has proven that many policies and decisions made by the Elite Ruling Class serve their own interest and promote their ideas. These decisions are the source of the inequality in the United States and it contributes to their ability to maintain their dominant status. The inequality is trickled down to the other classes through social policy and social institutions that affect our lives everyday citizens. A major example of this social inequality can be seen in the United States housing market or home ownership. A significant amount of studies, statics and data supports the evidence of social inequality within the US housing market or home ownership. The following passages will discuss social inequality in the United States as it is connected to Karl Marx’s theory of capitalism’s power and influence of the Elite Dominant i.e. the Ruling Class view as it relates to homeownership within the United States. Karl Marx’s theory however focuses mostly on economic s and the difference between upper and lower class not race. It is also important to point out that the Elite
In the United States, income inequality is obvious and widespread. Presidential candidates realize income inequality will be a major point of any presidential campaign. The major civil rights issue of today is income inequality. Such a large misdistribution of wealth has likened modern economics to slavery. Lower-income workers are forced to work longer hours at a stagnant wage to maintain consumption. On the other hand, to say that the super-rich are beyond fairly compensated is an understatement. The top 10 percent of wage earners received 48.2 percent of total earnings in 2012. The super-rich make the rules of the game (laws) favor the rich. Those with large wealth control the decisions that affect employment, wages, and benefits through