Wealth Inequality In America

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Jasmine Ware Ms.Johnson Period 5 28 February 2018 Wealth inequality: a growing issue in America Wealth inequality all but gave birth to our nation. Between taxation, navigation acts, and writs of assistance, the colonies were engulfed with laws that caused disparity and created social classes, leading to the colonies separating from Great Britain during the revolutionary war in 1783. Inequality has been rampant throughout many parts of the world. It also has been widely prevalent within the United States. When it comes to inequality, not many people think of it in terms of wealth. While wealth inequality has always been an issue in the United States, it has became more of a pressing matter in America since the late 1980’s, and has only continued …show more content…

As americans it is not only right to help each other, it is necessary for the betterment of the country. It is inept for the government to watch their country struggle, while spending massive amount of money for funding on frivolous things like sororities and fraternities Many cities in America are filled with people who earn less than what the standard of living is in the country .They experience many hardships and often struggle because of the issues within their community. This is the biggest issue with wealth inequality. It hinders the ability of americans to take risks and investments that could be very beneficial to them in the future, while also limiting the success of the less fortunate by supplying them with limited resources . Wealth inequality inevitably has a major role in america's current poverty level, which in turn could possibly lead to crime. One major benefit of wealth equality would be a significant drop in the current crime rate. Many crimes are committed in low income neighborhoods.This is a result of the limited resources in these areas, such as jobs, hospitals, schools, and other basic necessities. Wealth equality would fix these issues by giving them more opportunity and creating new jobs. It would also slowly drop the crime current crime rate over time, causing the economy to also improve in the …show more content…

China has also benefited greatly because market socialism. According to an article by The Monthly Review, Jul-Aug 2004, “When the leaders of China of announced their program of market socialist reforms in 1978, they argued that it was a necessary step to overcome growing problems of economic stagnation and waste caused by the Mao era's overly centralized state systems of planning and production” “China then experienced a rapid growth and a complete industrial transformation in the 1980’s, which caused many who opposed the idea of market socialism, to view it as an attractive vehicle for achieving sustained growth, an egalitarian distribution of goods and services, and new forms of democratic participation in economic decision making (The Monthly Review, Jul-Aug 2004).” Wealth equality or socialism is not always to be opposed or feared, it can actually benefit the economy, and raise the standard of living for the

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