Large Gaps Of Wealth And Income Inequality

Two words that inspire much conversation, thought, and even tension are the words American Dream. What is it? How do we achieve it? Is it even possible? Back when our country was first founded, the idea of the American Dream was people looking for a “new life” would come America to gain more opportunity. A very important document to our nation is the Declaration of Independence. This document highlights the concept of the American Dream when it declares, “All men are created equal” and also when it states the inalienable rights of each man are, “ life liberty and the pursuit of happiness” Equality, life liberty and happiness are significant points in the dream every American seeks to achieve.

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.

Amid the copious countries on Earth there are not many as developed as America. The pledge to protect justice and freedom has made us a more open-minded and adaptable community. In our country all children can receive an education, everyone has a chance to afford health care, and no one can be denied rights because they are different. The freedom to be yourself and hold your own opinion are not only tolerated, but encouraged. Unlike many less fortunate people we can follow our own religion and strive for our own dreams. Of Course, other places are very successful and formidable, but only a selected few actually promote individuals rights in general. These many attributes contribute to why the American Dream is alive and more well than ever.

The wealth gap, or wealth inequality, is known as the unequal distribution of assets within a population. The wealth gap in America between the lower and upper classes is rising exponentially. This imbalance within the distribution of wealth leaves those who aren’t as financially stable to struggle to achieve the same standard of education, and overall living necessities, such as housing, as those who’s wealth persistently grows. The rising wealth gap plaguing American society is bringing those of the lower and middle classes to a set disadvantage point compared to those who have an affluent amount of money. Although this inequality is contributing to an emergent opportunity gap, a solution can arise through new legislation concerning financial

The difference of income and workers conditions has been a timeless conflict present throughout history of the United States. In the past workers were faced with deadly work conditions and around the clock hours for little pay. These unjust conditions dramatically increased during the Industrial Revolutions that the United States experienced in the nineteenth century. The latter period of industrialization produced the organization of the first labor unions in the Country, namely the Knights of Labor established in 1869 and the American Federation of Labor established in 1886. In present day countless unions exist, and are a lot less needed than they were in the early industrial days of the United States (Brinkley, 2012).

The first evidence can be found in From the Four Freedoms by Franklin D. Roosevelt and it states, “The first is freedom of speech and expression…” (From the Four Freedoms, 1941) This explains that the American Dream is made up of the ability to speak and express oneself. Although this is not sufficient evidence to the claim, but it is a closer step to proving the obtainability of the American Dream which can be further proven by the same speech made by Franklin D. Roosevelt, which states, “The basic things expected by people... Equality of opportunity...Jobs...Security for those who need it…preservation of civil liberties for all.” (From the Four Freedoms, 1941) This explains that the American Dream is supposed to give out equal opportunity for jobs and other civil liberties without harming others. Freedom and the American Dream are two topics that become so vague that the very definition is something that must come from pure opinion rather than absolute fact.

In this paper I will be discussing the wealth gap. I will also be discussing if there should be a “special” tax to redistribute the wealth. I hope to enlighten the reader of the issue of the wealth gap, and if a tax would help.

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

In the 21st century, the American media has portrayed the wealth inequality in the United States in a very black and white way. Poverty has become an ongoing problem and has accelerated the appalling wealth divide. In 2010, the poverty rate in the U.S. reached fifteen percent which was the highest it had reached in almost two decades. Obligations to providing equality and adequate living conditions have been removed; there is no more “moral code or ethical principle” that can be used to contradict this growing American atrocity. On one side of the spectrum there is the upper class, the esteemed one percent of the social hierarchy in our country; however, on the other side there is the desolate and extreme poor that are constantly being used

The American dream is the freedom to do whatever you want. It's the freedom to have the job that you want, and the freedom to express your opinions. The American dream is also happiness. It's through the American dream that we achieve this happiness.

The wealth gap in the United States is way off compared to what people may think it is or what they would like it to be. I’m actually very shocked of what I found. If we divide the entire United States in five different groups, you can say the first group is the poor, the second is the middle class, third and fourth are even progressively richer and the fifth group is the richest. Personally I would say maybe 40 to 50 percent of Americans are poor. They probably make nothing to twenty thousand a year. The middle class is probably 20 percent of American and they make about 30 to 70 thousand a year. The rest, which are the rich and the richer, makes everything else. My perception of the wealth gap was pretty close to what most Americans think.

This “middle-class nation” is struggling to support all those who live in its borders and the misconceptions about wealth are vastly overrated. Furthermore, the idea of wealth and stability is incorrect, and there is a very sharp contrast between the rich and poor in the country. As the richest twenty percent of American hold ninety percent of the total household of the total household wealth in the country, those at the bottom have managed very poorly and suffer to get through the days.

No country in this globe can escape from wealth inequality. Never and ever. Even, America – The land of opportunity and the first economy of the world. While the nation is striving towards achieving its dream, it is faced with the problem of wealth gap among the low, middle, and upper classes of the society. Wealth inequality is a phenomenon or a social event of the difference in money and other assets which individuals can accumulate. For some people, no more land of opportunity and the existing wealth gap is a result of unequal opportunity. However, I and others argue the nation is still a land of opportunity, but with some challenges to overcome. Furthermore, I and some firmly believe that the wealthiest people at the top are the achievers

The wealth gap, which has two causes in the United States and the effects of, should Americans deal with it as soon as possible. The solutions can be helpful to decrease this problem to be massive. The Americans are trying to do that and the people are wailing to do more for the society. However, the wealth gap became a huge, but the government and people can solve it by the time. This is a global issue like what are happing now in Greece and European counters. If Americans will not do any serous action to stop that, they might face the same result. The countries around the world should put their hand together to solve it by supporting each other once they do it maybe we will stop it.

The problem of poverty has always plagued the world, including developed countries, such as America. It is one of the main reasons that less developed countries have difficulty developing at the pace of other countries. Many different actions can cause poverty. Most people have different opinions on why poverty still exists. “Nearly equal portions of the public in advanced, emerging, and developing countries, cite the gap between the rich and the poor as a very big problem. And notably, it is the leading economic concern in the eyes of people in major economies such as China and Germany, at 42 and 39 percent, respectively, according to the new Pew Research survey. A global median of 29 percent say their government’s actions are to blame for inequality, making it the leading cause cited. People in advanced economies, in particular, believe that their governments are responsible for the rich getting richer and equally culpable for the poor becoming relatively poorer. A median of 32 percent in those nations blame government, three times the percentage that cite the failings of their educational system and double the share who blame their tax system” (Stokes). Some people that are wealthy are also greedy. Although they control a large amount of wealth, they are unwilling to share it. Although it should not be the responsibility of wealthy people to support people in poverty, it would be helpful to the advancement of society. Another contributing reason that poverty exists is