Income Inequality Debate

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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…show more content…
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.…show more content…
The middle class is the group supporting the economy through taxes. The household income is decreasing each year as the middle class begin to grow smaller and smaller. Those on food stamps and government aide grow in numbers each year. Where the poverty line lies is the amount a person who makes only minimum wage for a year lives by. However, this number is not a goal and should not be a goal because of the idea of living paycheck to paycheck. The income gap not only causes more pressure for the lower 99% for taxes, but also causes tension between the two groups. The lower 99% has a higher fast food consumption than the top 1%, which leads to many health problems. These issues can lead to early death, infant mortality rate increase, and multiple other health

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