Income Inequality Solutions

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Income Inequality: Solutions moving forward?

Probably the most widely discussed issue relating to contemporary economics is the divergence of the wealthiest Americans from the lowest quartile of the population, many of whom live well below the poverty line. The challenge has been made by many liberals that the middle class has vanished, the traditional methods of upward mobility have been erased, and a movement to curb this pattern must be adopted for the sake of the health of our nation. You should research the underlying issues of the wealth inequality debate. Think about the economic theory behind household consumption, tax policy, and means by which a solution is possible. Your research should inform your classmates about the perspectives
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Global income inequality:

When compared to other nations, the U.S. is one of the richest despite the severe income gap among its own citizens. Although many U.S. citizens are classified as low-income, their wages are still a great deal higher than citizens from poorer countries. Most of the world’s top 1% live in the U.S., increasing the overall national average income.

Global inequality is also seeing a decline as developing nations develop and become industrialized. In spite of growing populations, especially in underdeveloped countries, the economic growth brought on by industrialization has helped many families escape living in poverty.
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Both wealth distribution and income equality need to be priorities for America. Some people do not even know the gap exists and those who do have no idea the extent of the gap. The wealth inequality gap needs to be eliminated and the two best solutions are raise minimum wage and plug the loopholes in tax laws. This will help people who are disadvantaged, like women and minorities, earn a livable wage. Most minimum wage workers are women providing for their families and their family lives below the poverty line because she can not sufficiently provide for them. Also the loopholes in tax laws make it easy for corporations and wealthy individuals to get out of paying their fair share to avoid any tax burden. Goldman Sachs and the Koch brothers are examples that show the wealth inequality gap increasing as they do not pay their rightful amount of
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