Income Inequality In America Summary

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The article includes important issues which covered the higher tax rates in many countries. One issue that was brought up was the argument between the two economists, over the United States higher that even Democrats’ boldest plan to increase taxes on the wealthy would do little to reverse the rich’s gains. On the other hand, many of the Republican tax proposals on the table might increase income inequality. Also, the United States has had higher tax rates without stifling growth or encouraging the concentration of income in the hands of the very rich. Lastly, the United States is being accustomed to a level of inequality. Research done by Emmanuel Saez and Thomas Piketty has shown that inequality among the middle class and the rich is nearly as acute as it was before the Great Depression.…show more content…
However it does have so great major parts. To start off, America’s economic equality gap is huge, which is constantly a disturbing factor. On misconception often made about economic inequality is that “the poor are poor because the rich are rich”; this would be a false statement. The rich often own profitable business creating big enterprises. On the other hand, the poor have to go thorough circumstance, which makes their life at the economical stage it is now. Even if some low-income workers may be able to benefit from a higher minimum wage, most of the very poor won’t be able to. When they are not in the labor force; they either can 't work because they are too young, old, disabled or unskilled or won 't work; which would create more challenges through their
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