The Role Of Income Inequality In The United States

Societies and their governments have developed different policy approaches to addressing domestic inequality. Compare and contrast two different countries and evaluate the effectiveness of their key policy measures in addressing inequality.

There is no doubt that wealth inequality in America has been escalating quickly; the portion of total income earned by the top one percent has doubled since the beginning of the 1970’s. The wealthy are the main beneficiaries

High income inequality prevents an economy from growing, so the current status of the wealth gap in the U.S. is dangerous to the future of the U.S. economy. In fact, the average income of the top 10% of the United States population is roughly nine times greater than the average income of the poorest 10% of the population (OECD). This widening wealth gap is a problem of extreme importance and failure to recognize it may lead to social problems such as a rise in crime and overall social unrest. A continuing rise in this wealth gap affects all U.S. citizens as the bottom 99% may lose opportunities in education and be exposed to more crime, and the top 1% may lose consumers as no one will be able to afford their products. Furthermore, due to this rising gap, ordinary children of the masses, who are from the bottom 40%, are being denied to educational opportunities because they cost more money (Ingraham). Regardless if a child is born into a wealthy or poor family, they are still born with the same attributes; however, it is income inequality that creates inequality in educational opportunities for children, which threatens the overall educational status quo of the nation. A major wealth gap in any society is strongly associated with significant problems such as greater poverty levels, more crime, and even poor conditions of health (Partridge and Weinstein).

The highest earning fifth of U.S. families earned 59.1% of all income, while the richest earned 88.9% of all wealth. A big gap between the rich and poor is often associated with low social mobility, which contradicts the American ideal of equal opportunity. Levels of income inequality are higher than they have been in almost a century, the top one percent has a share of the national income of over 20 percent (Wilhelm). There are a variety of factors that influence income inequality, a few of which will be discussed in this paper. Rising income inequality is caused by differences in life expectancy, rapidly increases in the incomes of the top 5 percent, social trends, and shifts in the global economy.

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

In the article, what can be done about inequality? The author Atkinson shows many alternatives to reduce wealth inequality, including changes in tax, employment, pay, and wealth policies. However, the author, states that that solution is in the hands of employers, investors. Savers, workers and consumers. The author argues that economic inequality is receiving a lot attention in social media and its attraction from world leaders given their opinion, but they don’t say how they’re going to achieve it. The author states that if people want to reduce income inequality are steps to follow, but those steps are costly and are not easy. To demonstrate that there is a solution to wealth distribution, he displays alternatives such as make up for household’s

Humans have more complex social structure and thinking, but some time we response are same like those monkeys. People not worry about poverty, but people indignation about inequality. But it is inadvisable for everyone are absolute equality. because of resources are limited, maybe we can eat a half bread, but we cannot drive a half of car, use a half of cell phone. On the other hand, absolute equality will let people getting lazy and lost they initiative and creative

Wealth is accumulated over long periods of time. Opportunity becomes a great factor of whether someone accumulates wealth or not. Throughout the history of the U.S facing economical struggles, opportunity had determined who was going to face and can survive this economical struggle. For example, during the great depression, people who were Angelo -Saxon were given the opportunity and privilege to receive loans to buy houses while African Americans and Hispanics were

First of all, although the U.S. Constitution proffers equal rights to all, money is the source of power. Consequently, when a person owns more money and they have skills that others don’t, they usually come on top begetting power and great influence in the world. Although there are many different branches of inequality, two inequalities focused in this paragraph are social inequality and economic inequality; which are closely related to one another. Furthermore economic inequality is the difference found in various measures of economic well-being among individuals in a group, among groups in a population, or among countries. To put it simply, economic inequality is the difference in wealth of the people and of the world. Also, social inequality is the existence of unequal opportunities and rewards given for different social positions or statuses within a group of society, meaning those with power and money are open to paths with more opportunities and rewards while others are only given so much opportunity, but no person should

This approach can choose to concentrate on. Also, governments can opt to create more job opportunities that absorb the unemployed in the society to the employment bracket so that the income distribution is fairly equitable. Investing more on industrialization and emphasizing on good governance can help achieve a society where majorities are able to cater for the basic commodities without straining and enjoy the pleasantries of life fairly same as the rich in society (Abbas, McLean & Carpenter, 2010). Fiscal policies can help deal with the income inequality in society and promote its reduction through raising of fiscal revenues to finance appropriate social policies especially those that sensitive sectors such as public health and education and making sure that the policies serve that are in most

one of the most serious problems in over the world is the economic inequality , and the social problems it produces . And it could be the most damaging impact in developed nation . Because social class influence the type of the opportunities available to person , as economic factors in general determine the choices available to people getting started in life in good or bad ways.

Equality is one of the biggest concerns in most societies. Independent of philosophy, culture, or religion, the society always care about this growing issue. Inequalities are shown in diverse ways by people’s position in the distribution of wealth or income but could also be related to other characteristics like having a disability, different ethnicity or background or gender. In the 2005 World Development Report elaborated by the World Bank, it is stated: “We now have considerable evidence that equity is also instrumental to the pursuit of long-term prosperity in aggregate terms for society as a whole” (World Bank,2005). However, the increasing growth inequality experienced in many developed and developing countries in recent times is

When speaking about equality in today’s socioeconomic balance there are only a few unit of measurements possible to use in order to construct a conclusion. Possibly the most commonly looked at statistic when measuring economy is that of economic opportunity. The focus of economic opportunity is to create equal chances in the world for everyone despite their differing upbringings. In the United States of America, the most notable attempt to create equal economic opportunity was President Lyndon B. Johnson war on poverty reforms. It was Johnson’s hope that the reforms would make the USA “a more equitable and just country.” The reforms enacted several policies such as the provision to create the job corps whose main purpose was to create jobs and train poor urban youths to fill

Inequality, in this world, is a gigantic problem. And, I was one of the people who got categorized by it. In my neighborhood, my house was the smallest house. Every day, my mom and I would be sleeping on the dirt, while all the others are sleeping on their bed; we would listen to the cricket, while all the other would listen to music; we pick up a garbage for money, while the rest works in the office. Why? We are poorer than the others. Poor and rich are two very distinctive words, as distinctive as the people who gets categorized by them. From the history until now, many advocates for equality. Yet, there isn't a "real" equality. Today, inequality is a very big gap between people. It separates two groups of people: the extremely poor ones and the extremely wealthy ones. The wealthier ones get wealthier, and the poorer ones get even poorer. Many people have asked for the cause, as much as many people who have sought for solutions. Yet, neither of those questions have been answered. Well, in my opinion, economy, societies, and people themselves... all plays some roles in causing an inequality between the poor and the wealthy people in our society to rise rigidly.

Society holds many structures that mould human performance and produce opportunities for some, but inequalities for others (Morrall, 2009). These structures in society are organized by the hierarchies of class, ethnicity and gender (Crossman, 2016). Due to having a society based on hierarchies, social inequalities are inevitable. Social inequality refers to the ways in which a group or individual of a certain social position may receive unequal opportunities or distribution of ‘goods’ such as education, income, living conditions and healthcare (Walker, 2009). These unequal opportunities may be given to someone because of their ethnicity, gender, income, religion or social class (Walker, 2009). For example, people in a high social class will be able to pay for their children to go to a good private school for a good education, whereas lower-class or working class people will struggle to afford the same education.