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Income Inequality In The United States

417 Words2 Pages

Income inequality refers to the even/unevenness of how income is distributed in society. Income inequality in the United States has been described as “the defining issue of our time” by President Barack Obama in 2012.The US is facing a significantly high level of income inequality because the people with the highest incomes are taking home the majority share of the economy and there is a large gap between these people and the poorest people in America. Income inequality is most of the time measures via something called the Gini coefficient, this measures the extent of which the distribution of income among individuals/households in an economy is near to a perfectly equal distribution. For example, a rating of 0 on the Gini coefficient would

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