How The Inequality Gap In The United States

Wealth inequality in the United States has grown tremendously since 1970. The United States continuously reveals higher rates of inequality as a result of perpetual support for free market capitalism. The high rates of wealth inequality cause the growing financial crisis to persist, lower socio-economic mobility, increase national poverty, and have adverse effects on health and well being.

No matter which country you would look into whether it’s from wealthier to those less wealthy countries through the eyes of economics, there are bound to be types of inequity within their borders. Inequity is a very crucial problem in the United States, you would think that our economy here in the states is booming, and the citizens are living life easy or without worry. Life is the United States isn’t as it seems, in fact, Inequity is in fact a big problem even in the United States. Over the years, there has been millions of Americans that were considered to be in poor or in poverty line that are not able to provide for themselves and their families. We can sadly see those Americans on the streets, cars or shelters unable to keep-ends meet that are not able to keep a decent paying job. That is why throughout this paper I’ll be discussing why inequity is a big issue in the United States from how income is distributed through causes of income inequality, social status, and even how the government interventions is trying to alleviate income inequity.

As you can see, inequalities have plagued America for hundreds of years and continue to do so.

In 2013, President Obama asserted that the growing income gap in the United States is a “defining challenge of our time”. Economic inequality consistently ranks amongst the greatest concerns of voters and is the subject of growing national and international attention. As such, explorations of rising inequality are not new. Where the readings are revelatory, however, is in their efforts to expose the fallacy that economic distribution, be it the hyper-concentration of wealth at the top or the existence of poverty at the bottom, is ‘natural’, nothing more than an economic reality caused by ‘inevitable shifts in [the] economy driven by global, universal pressures’ (Hacker & Pierson, 4). Instead, the authors posit that economic inequality is ‘largely a product of political decisions and institutions that generate and sustain a sharply unequal distribution of wealth and resources’ (Williams, 569).

Inequality has been always a problem for the United States, racial inequality, gender inequality and of course income inequality. Meanwhile racial and gender inequality didn’t concern the majority people in the country and they didn’t have rights at the beginning, income injustice concerned, 99% of people who has rights in the government. The problem is not only that the minority owns the majority of money, but also that people who work at the same jobs have different salaries. I have two friends, one works at store, Costco and another at Shoprite. Person who works as a cashier at Costco has $12 per hour, and the one who works as a cashier at Shoprite makes $8.70 per hour. This shows that two people who spend the same amount of time, energy

As Americans, many of us take our socioeconomic status and right of equal opportunity for granted. However, there are many who lack the resources to raise their economic status thus creating a growing wealth gap. The only way to stop this economic inequality is to have private funders advocate for these poor people. There needs to be more of a focus on the economic portion of socioeconomic because it provides the necessities of life. Therefore, inequality exists in America and the only way to stop it is by having private funders be the primary advocate for those who suffer from this inequality.

A social issue (social problem) refers to an issue that others recognize as a problem within society. Different social problems in our culture include but are not limited to cultural discrimination, poverty, social inequality, racial discrimination, and urbanization. Social inequality refers to a lack of social equivalence, where individuals in a society do not equal one another because of their communal status. Sometimes when social inequality takes place inherently discrimination, prejudice, and racism take place. Each of these issues differ from one another but the commonality is the mistreatment of an individual based on the individual characteristics either physical or personality. Social inequality includes issues such as voting rights, freedom of speech, and unequal distribution of income/wealth. Society is organized by social hierarchies based on class, race, and gender.

John Sloan once said, “I feel that if five thousand people in this city are wealthy and content and two million are unhappy, something is wrong.” Citizens it todays society are either wealthy or poor, there is no in between. The social gap between the upper-class and the rest of society is too large. Lower-class citizens, including children, have to work very hard to try and make ends meet; many times, women will have to join the workforce. The wealthy live a very comfortable life, while the lower-class and hard working citizens struggle with daily life and providing for their families. The same goes for the immigrants; they are no better off than the lower class. They were unwanted and got the worst end of the deal. This big gap between the

Income inequality in America is higher than in any other industrial nation in the world. Many believe this creates serious problems for both United States citizens and its economy. The inequality difference is continually getting larger and worsening these problems.

In the article “Confronting Inequality”, Paul Krugman argues that the gap of inequality between social classes in the United States is growing because of self- interest. He cites a “movement conservative”, Irving Kristol, who claims income inequality is not important because there is social equality. Krugman uses Kristol’s statement as a starting position to state his own. Krugman describes the claim as being a “fantasy world” and not the “real America we live in” (Krugman 246). I agree with his statement, many people were not aware of this issue five years ago, the fact that the upper class is gaining power. They have “their own virtual country” and “a separate economy” (Krugman 246). The upper class has many opportunities that prevent

American elections have always been supported by private money. These funds have come from the American people, special interest groups, and business. The funding amounts that the last two can give exceed what most Americans can give. As a result, politician frequently find themselves beholden to those who can give the most money—wealthy donors, special interests, and business. This has caused many civic groups and political reformists to advocate public funding of elections. Such public funding is a good idea for three reasons. First, elected officials should represent the best interests of the people. Wealthy donors and special interests may influence the vote of representatives by offering campaign support or threatening to withhold

Currently in the United States, there is the contrast between two entirely different worlds. This difference is possible to observe it in almost all States. In the United States, there is a level of poverty that groups (Latinos and blacks) minorities represent the majority. This sector, which has little income, accounts for a significant portion of the country. One of the illegal immigrants is represented in this group.

Inequality is one of the biggest problems facing our country today. The wealthiest 1% of Americans have as much financially as the poorest 50% of Americans. Many people in this country are working hard every day and are barely able to make ends meet. The voice of the poorest in this country is being ignored in favor of the voice of the wealthy. Most Americans do not desire to be poor but they are not given the chance and the resources to overcome poverty.

Statistics shows that almost half of the world that’s over three billion people live on less than $2.50 a day and at least 80% of humanity lives on less than $10 a day but more than 80 percent of the world's population lives in countries where income differentials are widening. Currently, the poorest 40% of world’s population hold 5% of the global income and the richest 20% holds three quarter of world’s income. Economic inequality which is the gap between poor and rich contains of disparities in the distribution of wealth and

In today’s modern American political culture, the public seem to be driven by the belief that we are governed by a democratic system. However, this system is actually moving away from the democratic republic way where all have a say, to one where it is metamorphosing into Plato’s third schema of an oligarchic constitution. The people gaining power politically, seek money to get into office, then once elected they funnel money and favors to family, friends, constituents and supporters who in turn help them stay in power. The insider ruling class raises taxes on everyone except themselves. They pass laws, but exempt themselves. They are able to do this because they control the media through their wealth and power. The problem is that the rich have become the most cogent political force in the United States, and the people’s votes and opinion have become ineffective, representing little more than a decoration. As a citizen of the United States, and a member of the working class, I believe that money has become the enemy of our society.