ipl-logo

Wealth Inequality In America Summary

994 Words4 Pages

Does the Greatly Skewed Distribution of Wealth Amongst the Lower and Upper Classes of Society Cause Conflict?
American citizens as a whole do not recognize exactly how greatly skewed money is distributed amongst the lower and upper classes, nor the problems and conflicts that come with this great amount of skewness. People argue that this uneven distribution contributes in keeping society functioning because people are unaware of this disproportional spread since there are not any grave conflicts that would cause them to need to become aware. The article, Wealth Inequality in America: It’s Worse Than You Think by Chris Mathews, instead states that the top two percent of the wealthiest people in America contain over half of the total overall …show more content…

Conflict sociologists see this skewness as a problem in society. The people who become of wealth stay in wealth because they control the power due to the mass amount of money they have compared to the rest of the population. When we say wealthy, we are discussing the top two percent of wealthy people in America. The top two percent of people own over half the total wealth in the United States. Many cities and even states do not contain a single person that qualifies as being a part of the top two percent of wealthiest people in this country. When you become in the top two percent you stay there. The people at the very bottom of the wealth spectrum, which will make-up at least half of the United States population, will share ten to fifteen percent of the total wealth. Let me repeat that, ten to fifteen percent of the total wealth of the United States is split up in-between fifty percent of the United States population. People on average don’t realize what little money they have. There are people mistakenly thought of as wealthy, but don’t even come close to comparing to those who are actually in the highest class of

Show More
Related

  • Poverty In Brevard County

    1018 Words  | 5 Pages

    Groups and individuals with that hold these resources use them to maintain power and social control. The wealthy are the independent variables that hold the power to make decisions and control how society is ran. The lower classes are the dependent variables that have little to no control over how society is structured. Conflict theorists encourage social change. Instead of allowing the “well off” to force social order on everyone else, the general public should fight for social change even at the expense of a possible social revolution.

    Read More

  • Income Inequality In America Essay

    661 Words  | 3 Pages

    Based on freedom and equality, America is today the country the most unequal amongst developed countries. Today there is a very big difference between the ideal, what Americans think and the reality of the income distribution. There is only a very small share in the middle class. This is a major crisis in the United States indeed, 1 per cent of the rich have 40 per cent of the country’s wealth.

    Read More

  • Summary Of Income Inequality By Sean Mcelwee

    309 Words  | 2 Pages

    In this article by Sean Mcelwee(2014) he talks about why income inequality is the toughest issue America will face in the next few decades. In the article, Why income inequality is America’s biggest (and most difficult) problem, Mcelwee(2014) believes that after the studies he has seen, the most effective way to solve the policy issue of income inequality is by higher taxes on income and wealth. However, the rich would never buy into this solution, because it would take more of their wealth, when the wealthy are trying to maximize their money returns. Mcelwee (2014) also talks about how when a family is wealthy, money tends to stay in the family for 10-15 generations, which is also true for families with lower incomes as stated here by

    Read More

  • 1967-1970 Income Inequality

    573 Words  | 3 Pages

    Then we come to the next five percent fractile; they controlled just 0.7% of the yearly average wealth from the years 1967-1970. Finally, we get to the lowly bottom ninety percent fractile; they had a meger 0.07% of the yearly average wealth from the years 1967-1970. Which made the wealth inequality ratio between the top one-hundredth percent fractile and bottom ninety percent fractile from the years 1967-1970 69,716:71. In other words, the top one-hundredth percent fractile controlled $69,716 of the yearly average wealth for every $71 of the yearly average wealth the bottom ninety percent fractile controlled for the years 1967-1970. That ratio, still very lopsided, was infinitely more equal than the wealth inequality ratio between the top one-hundredth percent fractile and the bottom ninety percent fractile before the great depression ( 356,900:100), or even worse, the wealth inequality ratio between the same two groups before the great recession (301,932:113) (Duménil, Gérard).

    Read More

  • Rhetorical Analysis Of Confronting Inequality By Paul Krugman

    899 Words  | 4 Pages

    The more money the wealth has the less middle class there is. The more people that influences the wealthy the higher the social equality will grow. Krugman says “A society with highly unequal results is more or less inevitably a society with highly unequal opportunity, too (592).” Middle class is being denied for all the help that there is, while the wealth is getting help. They are force to live this way because of inequality in the world.

    Read More

  • Why Are Americans Poor Research Paper

    492 Words  | 2 Pages

    Why are most Americans Getting Poorer? The current estimated distribution of wealth in America states 80% of Americans (citizens under the poverty line, lower class and middle class) receive 7% of the nation’s wealth while, the top 20%(higher class) have over 92% of the nation’s wealth. Consequently, the respective groups of financial classes parallel this economic condition in that the amount of disposable income the middle and lower classes have been almost nonexistent ("Wealth Inequality in America"). The sources about economic data regarding the country become soused intentional by masses of official organizations depending on the objective that’s being supported with the data. The federal estimate for America in one piece currently has

    Read More

  • Income Inequality In America

    968 Words  | 4 Pages

    Income Inequality Income Inequality or “wage gap” is a big topic for freedom fighters and liberals for the simple fact that it isn’t equal for everyone. Because the wage gap is so prominent it's one of the biggest “facts” that discrimination is still apart of everyday American society. The wage gap from these radical interest groups think the economy is get a dollar take a dollar instead of a free flow economy. This misguided idea of the economy is absolutely not true and isn’t at the fault of the Government, but the people.

    Read More

  • Slavery And Racial Stereotypes

    315 Words  | 2 Pages

    Nowadays, it seems as if everyone wants to become rich. However, the large sum of money that is needed in order to be qualified as wealthy All throughout history different races and ethnicities have been restrained, in America this is especially true. Different scenarios in America’s past have had a lasting effect on the average wealth of different races because inheritance can add wealth to a family or individual. African Americans were once enslaved and denied their own civil rights, and in today’s world they face discrimination. These factors have affected the amount of money they will have on average because discrimination and racial stereotypes can prevent them from getting jobs and others may not see their full potential.

    Read More

  • From Beyond Outrage By Robert Reich Analysis

    1095 Words  | 5 Pages

    The meaning of the free enterprise on trial means to achieve success by hardwork and taking risks. In his book, “From beyond Outrage”, Robert Reich speaks about how wealth is concentrated among the top wealthiest people in American leading to a wide gap between the rich and poor by increasing inequalities in income. This has not only disgusted Reich, but he is outraged too with the statistics that suggest how the top rich Americans are only getting richer, while those at the bottom of the line are suffering. The inequality gap has grown consistently over the years in America making more than half of the public change their opinion about the wealthy families in U.S. People now believe that those with money need to be taxed heavily and there should be an equal re-distribution of wealth.

    Read More

  • Conflict Theory In American Society

    466 Words  | 2 Pages

    If we had an even playing field then everyone would be equal, this would eliminate value. Conflict Theory is used to secure resources and maintain the value of them for the rich. Wealthy working together as one to maintain the value of themselves directly impacts the education system. A high level of education produces higher paying jobs. The more people that have these jobs, the more uniform the playing field; this directly diminishes the value of money.

    Read More

  • Essay On Inequality In America

    411 Words  | 2 Pages

    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.

    Read More

  • Biographies Of Hegemony Analysis

    1147 Words  | 5 Pages

    Title Economic inequality was created. Lots of factors lead to the long-standing social inequality, such as gender, ethnicity, age, level of education and so on. How would people split up income between the top ten percent and the rest if it were up to them? It depends on which group they belong to. They strive for more benefit for themselves.

    Read More

  • Adam Smith Division Of Labour Summary

    1018 Words  | 5 Pages

    Wealth is concentrated on a few super-rich while the majority of the people are the middle class and the

    Read More

  • Space Exploration Argumentative Essay

    725 Words  | 3 Pages

    The distribution of wealth is so off in this country

    Read More

  • Capitalism In America

    1003 Words  | 5 Pages

    Capitalism results in class distinction. Obviously the upper class has more money and many times they feel that because they have more money, they are better than those of a lower class than them. In Gregory Mantsios, Class In America-2009, he states four different myths about the United States. Myth four states that everyone has an equal chance to succeed.

    Read More

More about Wealth Inequality In America Summary

Open Document