The Problem With Income Inequality

Income inequality is on the rise and it is evident in most cities throughout the United States. There are individuals with six to seven figure incomes and then there are individuals whose income is just enough to get by. The middle class is not as prominent as the upper and lower class. This should be the other way around. There should not be so many cities with very wealthy neighborhoods right next door to low class, rundown neighborhoods, with little middle class households. Digging deeper, 47.6% of the money in the United States belongs to individuals that receive $98,200 or more (“Distribution of U.S. family income”, 101). The middle class should be much more noticeable with the upper and lower

The definition of the American dream our ideals and freedoms of opportunity held to every American. Lately the American dream has been both parents working to pay off higher taxes and having enough money for the wants and needs of their family. This has been the American dream for only a few years. In 2009 72% of the people believe that hard work can result in riches but faith is very slowly decreasing. Now only about 61% of Americans believe hard work earns riches when you start out poor in this country.

Income Inequality in America is a problem that’s been going on for decades, and many feel that it hardly exists, the many people that feel that way are highly uneducated, and seem to not really care about this tremendous problem that in one’s eyes really has no end in the near future, in fact it has been gradually rising and one feels that it’s just not fair. Unfortunately, there’s not much that can be done, only of course if the poor class of people decide to actually educate themselves and get a higher education. One says poor class, simply because that’s how they’re classified. There are five types of levels that Americans are classified as, and they are: 1. Upper Class, 2. Upper Middle Class, 3. Middle Class, 4. Working Class, 5. Poor.

The American dream has changed drastically thru our history. Back in the 1950 and 1960 the American dream was to have the house with the white picket fence and the 2 ½ kids. Now the dream for a lot of people is to be able to pay their bills and maybe have enough money to go out for a nice little dinner that you did not have to cook yourself. The American dream is dead, it is because the concept has changed from the idea that everyone can improve their life through hard work to the idea that everyone can become a millionaire through virtually no work. The United State at one point used to have everything you needed to make this dream happen. But since jobs have been moving over sees we have lost all of that. The American Dream is so

The issue of income inequality in the United States is complicated and does not have a definite answer. Income inequality can be measured in a few different ways. The first measurement for the income inequality in a country is to look at the percentages on households and group them into income categories, called distribution by income category. The second measurement for income inequality is called distribution by quintiles or fifths. This is when you divide the total number of people, households, families into five groups called quintiles to examine the percentage of total before tax income received by each quintile. Each quintile would then be ordered by income and households in the category.

The American Dream is one of those terms that people refer to when talking about immigration, financial status, and so much more. But what does the term really refer to? People used to think of the American Dream as financial prosperity, religious and financial freedom, and all around success. Now, the term may mean something similar, but people are much less focused on it. If anything, the American Dream today is focused on gaining material goods and proving your bank account is larger than your neighbors. With today’s economy, laws and regulations, immigration customs, and overall attitude towards work, people are seldom focused on achieving the American Dream.

Income Inequality is a major problem that has been going on in America for decades. Many people feel that it barely exists today, but those people are very uneducated and don’t really care about the huge problem in front of them the many people that feel that way are highly uneducated, and seem to not really care about which has been gradually increasing instead of decreasing. Unfortunately, there’s not much that can be done, only of course if the poor class of people decide to actually educate themselves and get a higher education. One says poor class, simply because that’s how they’re classified. There are five types of levels that Americans are classified as, and they are: Upper Class, Upper Middle Class, Middle Class, Working Class, Poor. The highest percentage of Americans fall in the Poor department, and it has been that way for decades, and will continue to be that way for decades to come.

What is the American Dream? For most, it can be summed up in three words: comfort, happiness, and future. It is the term used to describe the 'perfect' lifestyle that most American citizens and immigrants wish to achieve: a loving family, stable financial status, and the opportunity to save for their family's future. It is described as "the belief that hardworking Americans" can live comfortable lives and provide for their children's future "and still save enough to live comfortably after they retire" (Wallechinsky 64). Rising costs of living (including healthcare and insurance costs), an unstable job market, and skyrocketing prices of higher education are making the ideal lifestyle look a lot less achievable. The ideal American life is not still accessible because those who come from a privileged life or are able to get a high-wage job can achieve it, but because of the change in the economy and job market, it may not be accessible to all.

Income inequality is increasingly becoming a significant concern for many countries around the world. The income difference between the highly-educated, skilled, wealthy class and the poor, low to mid-skilled workers is growing larger and larger. In fact, the incomes of the rich are increasing significantly, while the low skilled workers’ incomes have been declining (The Economist, “Wealth Without Workers”). According to The Economist, real median wages have been decreasing since 2000 in half of the member countries in the Organisation for Economic Co-operation and Development (OECD). In the United States, there was a 4% increase from 1980 to 2012 in the share of national income that was distributed to the top 0.01% (The Economist, “True Progressivism”). Canada is facing a similar problem of rising inequality.

In any given population, there is a difference between what people within the population earn. The uneven distribution of income in any given population is income inequality. In order for there to be income, there has to be several sources of income. These sources of income may be combinational or independent per person receiving the income. Income may result from wages, rent, bank account interests, salaries or even profits made in business transactions ( Stiglitz, 2012).

The current widening income inequality is due to the substantial income disparity between the top and bottom workers in the U.S. economy. General decline in wage endangered the standard of living for low income family as they struggle with a tightened budget. In order to battle income inequality, policy makers must raise the income of the working poor by expanding tax credit program and increase its effectiveness through major modification.

Everybody has a different perspective on what the American dream is. From my view, the American dream is the opportunity for anyone to accomplish their goals and obtain prosperity by working hard. I believe to some degree the American dream is still alive but it isn’t as uncomplicated as before. In Paul Krugman’s “Confronting Inequality”, it’s obvious that he believes the American dream is dead because of the ongoing inequality in society (pages 561-562). While in Brandon King’s “The American Dream: Dead, Alive, or on Hold”, considers the American dream to be very much alive (page 610). King believes most people do not strive for a rags-to-riches transition instead they prefer a healthy middle class positon.

The American Dream is something everyone pursues. However, over time, the ideas of the American Dream has changed. Some say it is for the better, but others say it is for the worse. I agree with what Bernie Sanders said, "For many, the American Dream has become a nightmare." The American Dream has been degraded throughout time. I believe the American Dream has changed for the worse due to difficulty finding jobs, unfair job opportunities, and people settling for mediocrity.

One of the most deeply divisive issues in the United States is the question of income inequality: whether it exists and whether we are obliged to address it. The “American Dream” ideology which permeates most aspects of our daily life, influences an automatic response to income inequality to be that those at the bottom are not working hard enough and that those at the top have earned their wealth through hard work. These perceptions of poverty and inequality limit productive conversation that can lead to meaningful change, which at a purely moral level, could lift those up who are struggling and at an economic level, could incite growth and increase consumer purchasing power. The United States is perceived as a land of opportunity and upward social mobility to those with sufficient work ethic. This is promoted by our media and subconscious cultural values. Data over the past several decades, however, indicates that the United States is becoming a less equitable society and opportunity is shrinking due to social, economic, and cultural factors that perpetuate an insidious cycle. The inequality in our society must be understood and addressed as it has the potential to result in negative consequences for the economy and human population of the United States..

As I began to analyze what the American dream truly is it The American Dream can best be described as pursuit of happiness, we are not guaranteed happiness, but we are guaranteed the right to pursue happiness, in whatever way we might be able to (physically, spiritually, and emotionally). founding a model of freedom and democracy and national destiny. As a child, I thought the American dream was all about money. Now as an adult the "American Dream" is to achieve a rewarding career, happy family life, freedom of their faith, and recreation. Hard work, individualism, universalism, wealth, activism, and rationality. The freedom to choose my own path and the security with which to start my walks in greatness. I don't think that the American Dream