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?
In poor countries men own 90 percent of the land, which is a far greater gender disparity in wealth than found in high-income nations. Therefore, 70 percent of the 1.4 billion people living near absolute poverty are women. This confirms even in a working society that women are not getting treated and are rewarded less for their effort. In high- income countries such as Canada and Sweden, women don’t get equal recognition for the things they do. In low-income nations
Hattenhaurer actually claims that his story satirizes the American definition of freedom as the greatest good to the smallest number (389). Forced equality to benefit those who weren’t born with natural talents by punishing and regulating the advantages people are born with results in what isn’t a truly equal society. The story said in the beginning that the people weren’t just equal under the law, but also God (Vonnegut). This results in the punishment of the privileged. Economic writer Stephen Moore claimed that the original and traditional American concept of equality as "equality under the law” means that the same rules apply to all, not the same results (29).
(What Are the Major Federal Safety Net Programs in the U.S.?). The obvious concern is what the government can improve within safety net programs to address poverty and decrease income inequality to assist families and individuals get out of poverty (Labor Markets & Poverty). While, America is alleged as one of the richest countries; lack of adequate shelter, housing, water and food supply, insufficient income, and living values are only a few examples of the effects from the economic crisis in the United States ( LEON-GUERRERO 32). In the Stanford (CPI) ‘Poverty and Inequality in 10 Well-Off Countries, 2010’ Data Table 2, the U.S. was the lowest ranking country in the well-off category, due to the low standards in
Income Inequality Income Inequality or “wage gap” is a big topic for freedom fighters and liberals for the simple fact that it isn’t equal for everyone. Because the wage gap is so prominent it's one of the biggest “facts” that discrimination is still apart of everyday American society. The wage gap from these radical interest groups think the economy is get a dollar take a dollar instead of a free flow economy. This misguided idea of the economy is absolutely not true and isn’t at the fault of the Government, but the people. One of the arguments used is that we could regulate and tax the 1% income because that would be “fair” but these numbers show how harmful that way of thinking is.
One example of inequality in the US is black-white income inequality which still exists in the US. The income difference between median households of white and black has increased from $19,000 in 1967 to $27,000 in 2011. The average black household income composed 59% of average white household income in 2011, these percentage was equal to 55% and 63% in 1967 and 2007, respectively (Desilver, 2014). If discrimination because of skin color will be continued they will harm economy in some way because if these people will not have jobs they will increase the proportion of unemployed people in the country. The unemployment rate of black is two times greater than unemployment rate of white (Fields and Weller, 2011).
When Theodore Roosevelt saw that trusts, or monopolies, were cheating millions of Americans, he did not stand by idly; he aggressively utilized the Sherman Antitrust Act to break up monopolies, causing some to mock him as the “trust-buster.” When Franklin Delano Roosevelt was faced with the worst economic recession in American history, he did not utilize moderate, monetarist economic policies; he passed what many would consider to be the most aggressively liberal economic policies in American history in the New Deal, which created programs like Social Security and the minimum wage, even though most of the New Deal was controversial and parts would be struck down by the Supreme
Every penny that is made, taxpayers lose money. Even though the penny might not seem worth much but per taxpayer it adds up to sixty million dollars a year(Sommer). To produce a penny it will cost a lot of money and why should we wanna waste money on something that is not worth for what it is. Other than the pennies costing to much, other countries have released the penny from their countries. Many countries have stopped having the pennies without any major disasters.
Income Inequality is a big issue in the United States that every year the rich, middle, and poor classes stray further and further as the gap gets wider. Some reasons for income inequality could be education, wealth, discrimination, ability, or just companies wishing to dominate a market making CEO 's the big bucks off the backs of the workers. You often hear online, news, and just through talking to people how the middle class is disappearing and how it will be a rich and poor society. Whether that is true or not is left to be debated. Can it actually, happen
It is proven that gender does contribute to a difference in wages in society and there for another cause of wealth inequality. The U.N. has found that gender discrimination is still a significant factor in holding many women and children around the world in poverty. In many countries, there is a gender income gap in the labor market. For example, in America, statistics show that “The median full-time salary for women is 78 percent of that of men”; despite the fact women make up half the workforce. One of the reasons women earn less income/money in their lifetime is usually because they are single mums and/or have more people/family to support on their