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).
Effects of income inequality The impact of economic inequality affects a large part of the population in different ways. The most obvious effects of wealth inequality are that it creates social classes. The first subdivision that we can draw is that population is split in two categories: the rich and the poor. There are a variety of economic effects caused by income inequality. Wealthy people have a higher income and consequently spend less of each marginal dollar, which caused the economic growth to slow.
Balance Sheet vertical Analysis: Costco’s long-term debt was 5.1% of their original asset in 2012; it is increased to 14.5% of their total assets in 2015. During the past four years, Costco Wholesale Corporation had a 9% increase in their long-term debt as shown on the vertical analysis of the balance sheet. There are few main causes to this change. Firstly, In December 2012, Costco issued $3,500 million of Senior Notes to fund the business, these notes are payable in 2015 2017, and 2019. Secondly, the Japanese Costco Subsidiary issued approximately $102 million of promissory notes with 1.05% interest that is due in May 2023, then the same subsidiary got an approximately $102 three-year term loan in July of 2013, which bears an interest
The article draws from references as studies done by the Organization of Economic Cooperation and Development (OECD) on the how the measure of wealth inequality between the richest nations is exceedingly high and may eventually lead to economic stagnation and slower economic growth in a nation’s economy. The article states that the top 20 percent of the population of the United States own eighty nine percent of net worth in the country, while the bottom 40 percent own less than a percent of net worth. Net worth in the article is defined as the total value of assets after the total value of liabilities is subtracted. I will explain how social stratification between the top twenty and bottom forty percent is caused by wealth inequality through four key sociological theories and concepts. Analysis A: In the Structural Functionalist perspective both groups are interdependent, meaning one group cannot exist without the other.
Demographics is the most important. In terms of age, young people are much less likely to vote than older ones. From 1972 to 2012, citizens of 18-29 years of age turned out with a rate of 15-20% less of turnout that citizens 30 years and older. In terms of ethnicity, in 2012, only 48% and 47% of eligible Latino and Asian American voters respectively voted, compared to 64% and 66% of eligible white and black voters respectively. Regarding socioeconomic status, research has shown that wealthy Americans vote at much higher rate than lower socioeconomic status citizens.
China has the highest population in the world, encompassing 1.2 billion or twenty one percent of the world's population. China faces serious social and economic problems associated with overpopulation in the years to come. Overly populated regions lead to degradation of land and resources, pollution, and detrimental living conditions. The Chinese government has tried to find a solution to the problem of increasing population with moderate success. The Chinese government has used several methods to control population growth.
I think the benefits did outweigh the costs. If you look at the facts and research, it's clear the benefits did outweigh the costs. In conclusion, the Great Wall of China is now an amazing historical place to visit that gets almost 1,000,000 people per year to visit. Those are my reasons on why the benefits outweighed the
Source #4 paragraph four states that, “In 2011, it cost the U.S. Mint more than 2.4 cents to produce one penny. This has led many to argue that the penny is inflating the economy and should be eliminated.” It states again in paragraph four of Source #4 that, “Even though production costs are slightly lower today, the penny still costs the U.S. just over 1.8 cents to produce,” which means the great tax paying American citizens are paying for more than what is being
Wealth and Inequality in America Inequality The inequality in America has increased over time; the gap between the rich and the poor has become a problem that many Americans don’t see. Inequality is the extent of income which is distributed unequally among the citizenry. The inequality of the United has a large gap between the poor and the rich making it unfair to the population, the rich are becoming wealthier and the poor remain poor. The article “Of the 1%, By the 1%, For the 1%”, authored by Joseph E. Stiglitz describes that there is a 1 percent amount of American’s who are consuming about a quarter of the United States income in a year. Therefore, America’s inequality will continue to grow.
Income inequality is rampant, and currently, it 's only getting worse. At this moment, the richest 1% of the population control nearly half of all global wealth. If current trends continue, the wealthiest 1% will have more than the other 99% within just a few years. The question is, however, how much income inequality is acceptable? Like many social issues, there is no easy answer, and people are remarkably divided on the answer.