Wealth Inequality Research Paper

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).

(What Are the Major Federal Safety Net Programs in the U.S.?). The obvious concern is what the government can improve within safety net programs to address poverty and decrease income inequality to assist families and individuals get out of poverty (Labor Markets & Poverty). While, America is alleged as one of the richest countries; lack of adequate shelter, housing, water and food supply, insufficient income, and living values are only a few examples of the effects from the economic crisis in the United States ( LEON-GUERRERO 32). In the Stanford (CPI) ‘Poverty and Inequality in 10 Well-Off Countries, 2010’ Data Table 2, the U.S. was the lowest ranking country in the well-off category, due to the low standards in

People may ask what do these facts mean? They mean that the wealth gaps in America are getting further apart. The rich are getting richer and the poor are getting poorer. The wealth gaps in the social classes in the United States are getting worse because the haves and have nots are widening, the American dream is getting harder to do, the rich are taking more of the pie and, income inequality is on a record high. In the United States, people are categorized into three main social classes.

Examples are states, foreign countries, and any other groups or companies the US has borrowed money from. The US has a debt of more than $18 trillion, and it also includes the value calculated from the total exports minus the total imports. America is known to have the largest debt in the world, and its national debt isn 't actual debt, but more correctly called a "balance of trade". One debating side, the US public, argues that our deflating economy is the reason of our

In reality, many people in the sub-Saharan Africa and south Asia do live with less than a dollar per day. Timothy Besley and Robin Burgess in their article “Halving global poverty” illustrated the concept of dollar a day and defined it as poverty line chosen to be representative of domestic poverty lines found in low-income countries. (Besley, Burgess, 2003). Besley and Burgess argued that such a measure could be applied on middle income countries only, because applying it on rich countries could bias the real

In 8 Surprising Facts About The Shrinking Middle Class From “Third World America” (PHOTOS)by Hallie Seegal 08/09/2010 01:19 PM ET states that in 2005, the bottom 20 percent of household earners had an average income of $10,655 while households in the top 20 percent made nearly 160,000 – a disparity of 1,500 percent, the highest gap ever recorded. Even some might refer to the U.S. as “ a land of opportunity ”,the reality is

This widened gap in income distribution inhibits equal opportunity distribution. In addition to being inaccurate, today’s distorted version of American Dream is also prejudiced, making it unattainable for the bottom 90 percent of Americans today. In By Our Own Bootstraps Michael W. Cox and Richard Alm believe, “There’s no denying that our system allows some Americans to become much richer than others.” (Cox & Alm 66). How is this kind of imbalance possible? Tax shelters for the wealthy and tax burdens on the poor promote Cox and Alm’s theory.

The poorer segments of the population are the worst affected by the obesity epidemic in richer societies. A number of studies conducted recently lend additional credence to this conclusion. These studies, for instance, find that in countries such as the United States of America, United Kingdom Spain, Sweden, and Canada, there is a clear inverse relationship between socioeconomic status and obesity (Zhang and Wang, 2004; El Sayed et al, 2012; Ventosa and Urbanos-Garrido, 2016; Rodriguez-Caro et al, 2016; Hajizadeh et al, 2013). The magnitude and direction of the socioeconomic gradient, however, varies within population sub-groups. Zhang and Wang (2004) assess socioeconomic disparities in overweight and obesity in the United States of America, stratifying the study population by gender, age and ethnicity, and discover substantial heterogeneity in the socioeconomic disparities in overweight and obesity across the strata.

For my final argumentative essay, I have chosen the topic wealth disparity. In my opinion, this topic needs to be research more in depth. The problem of wealth disparity is not just a national societal problem, but global societal problem. The distribution of wealth nationally has created social class system of the haves, and have nots, moreover, wealth disparity or wealth distribution; for example, there is wealth disparity between blacks and whites in America. In compelling surveys done by the United States Census Bureau, show that white men on a whole annual salary are higher in comparison to black

When we look at the situation from a macro level we find that the United States, although a wealthy nation, has the largest poverty rate and the biggest gap between rich and poor of all developed countries (Kramer). The United States provides less government

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

In order to tackle economic inequality in the United States, we must first establish that it is a problem that needs to be solved. American citizens currently live in one of the wealthiest nations in the history of the world, a feat only possible by the economic systems that are currently in place. But who benefits from this wealth? When the top one tenth of one percent owns almost as much as the bottom ninety percent, it is clear that our current economic systems are benefitting the prolifically wealthy. This wealth inequality extends beyond income, but includes; quality of health care, education, and political representation.

1. What measures would you employ to illustrate just how unequal America is? The measure I would employ in the illustration of how unequal America is would be the wealth distribution observed among different states. The inequality is especially demonstrated by comparing income generation of different families from different states. According to Pew Research Center (2015), wealth gap between upper income earning people and the rest of the Americans was the widest on record.