Essay On Wealth Gap In America

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Wealth gaps in America is something that people do not know much about causing them to not realize how severe it is getting. In America, the top 10% of people (the very rich) are holding 50-80% of the wealth. This statistic is very scary and hard to grasp. Another scary fact is that the top 1% of the population holds around 35% of the United States net worth. People may ask what do these facts mean? They mean that the wealth gaps in America are getting further apart. The rich are getting richer and the poor are getting poorer. The wealth gaps in the social classes in the United States are getting worse because the haves and have nots are widening, the American dream is getting harder to do, the rich are taking more of the pie and, income inequality is on a record high. In the United States, people are categorized into three main social classes. The first social class is called the lower class. In the lower class, there are two levels; working poor and underclass. The people in the lower class are right above poverty and have trouble being able to hold their own. In the working poor section of the class, the people in it are in the higher part of the lower class. “The working poor, about 13% of people in the lower class are under working poor, earning $9000 to 18,000 per year” (Class Structure in the …show more content…

When someone says the haves, and have-nots, they are talking about the rich (haves) and the poor (have-nots). There are many reasons why people think there are haves and have-nots. “New technology has made many jobs obsolete, while creating dramatic opportunities for wealth in computers, finance, and media and entertainment” (Haves and Have-Nots: Income Inequality in America). In the household income of families in the United States, every single class except the upper class has been on a decline since

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