The Wealth Gap Issue Of America - 1338 Words

The Wealth Gap Issue The wealth gap. It affects us all; old or young, male or female, and-- most importantly-- rich or poor. It’s what separates the most powerful and highest-paid people in America from the rest of us. It’s an issue that receives some attention, but perhaps not enough. The richest 1% of the U.S. owns more wealth than the bottom 90%, and that’s not the only reality of this issue. You see, this is a social and economic problem contributing to a plethora of other big problems here in the U.S., including child poverty, the dwindling middle-class, and the fact that the majority of American citizens have absolutely zero impact on public policy. Here’s the thing—the wealth gap is increasing, rapidly. Not much has been done to address this issue, and there’s a large group of people who don’t want anything done (guess who). I, among others, believe solving this issue opens the door to finding a solution to an abundance of other issues. Literature Review Three studies, published over the last several years, suggest that the majority of American’s have no idea how unequal the wealth gap actually is. The average American believes the richest fifth of the country own 59% of the wealth. The reality is that the richest fifth own about 84% of the nation’s wealth. This same idea also translates into an issue of income equality. CEOs for large corporations get paid about 12 times what the average American worker thinks they get paid. The average CEO-to-worker pay ratio isShow MoreRelatedThe Problem Of The Wage Gap944 Words   |  4 PagesThe wage gap is one of the most important issues that needs to be discussed and solved in contemporary society. Out of all the developed countries the United States of America has the largest wealth inequality, similar to countries such as Mexico and Malaysia. The United States is very dependent on its currency, without it then you are almost unable to live. Healthcare is free in most other de veloped countries while in the United States you are forced to literally pay for your life if the situationRead MoreWealth Gap Between Whites And Minorities Essay1649 Words   |  7 PagesWealth Gap in America America has a lengthy history on how it became the powerful country it is today, and although its history can be interrupted in many ways (depending who you ask) one thing that is for certain is that wealth has yet to be distributed equally amongst minorities. According to the article â€Å"Income inequality matter; Extreme gap in wealth makes society unstable.† Philip Meyer claims that the wealth gap between whites and minorities has existed since Ronald Reagans’ term of presidencyRead MoreEssay on wealth inequality in america1518 Words   |  7 PagesSuzuki 6 Closing the Income Gap In today’s capitalist economy, where economic transactions and business in general is centered on self-interest, there is a natural tendency for some people to make more than others. That is the basis for the â€Å"American Dream,† where people, if they worked hard, could make money proportional to their effort. However, what happens when this natural occurrence grows disproportional in its allocation of wealth within a society? The resulting issue becomes income inequalityRead MoreDistribution of Wealth1488 Words   |  6 PagesDistribution of Wealth? Wealth has affected american society and evermore has affect the fabric of families. Has the distribution of wealth gotten so out of control that the effect will reverberate for generations to come and as a society can we do something about it. When we were tasked to write this final research paper on one of the topics from the discussions over the past semester i knew that i had to do a topic that i had dealt with on some personal level even know i have experienced manyRead MoreJohn Locke s Influence On The United States1162 Words   |  5 Pagesand more importantly, the creation of American culture, both social, governmental, and economic. Locke was the inspiration for the three branch government system in America along with the representative democracy and the government acting as a third party to protect the rights of the people and to settle disputes. Economically, America is a highly commercial society with little government interference with business and personal income other than taxes levied by the government. American society almostRead MoreClass Is A Topic Seldom Discussed Amongst Citizens Of The1156 Words   |  5 Pagesof a classless America, important issues such as social inequalities are overlooked. Suc h avoidance of social inequalities work in favor of the wealthy, but do damage to the lower classes. Only by accurately defining our social class can we address the problem of social inequality (Mantsios 379). In order to fully address the issues of social inequality, we must first understand its causes. Author Gregory Mantsios addresses some of these causes in the essay titled â€Å"Class in America – 2012†. In theRead MoreWhat Is The Cause Of Poverty?959 Words   |  4 Pagesdiscuss the causes for those below the poverty line in America set by the census bureau and how we might begin fixing them and how they are already being fixed. I believe these issues are able to be helped but they need to be clarified and addressed properly. Currently in America there are 46.2 million people currently listed as impoverished according to the Census Bureau. As such first we need to look at the causes for poverty for nationally. In America the number one cause of poverty is single mothersRead MoreUnderstanding the American Wealth Disparity: End of the Road Documentary by Tim Delmastro1624 Words   |  7 Pages Particularly, in the United States there has been a growing issue of income inequality. The textbook definition of income inequality states: the difference between individuals or populations in the distribution of their assets, wealth, or income. The political problem itself, nevertheless, is deeper and denser than that. Out of all the developed nations, the United States is ranked with having the most uneven distribution of wea lth. The top one percent reigns over the shrinking middle class andRead MoreThe Inequality Gap Of The Rich And Poor1183 Words   |  5 PagesSome people would argue that the inequality gap of the rich and the poor does not affect our democracy. Others say the inequality gap is weakening our democracy. Either way, there is a wealth gap between the rich and the poor in the United States and as this gap between the classes expands, there is a debate over what should be done. On one side, people believe that great inequality between the rich and the poor is incompatible with democracy. Democracy is defined by the Oxford English DictionaryRead MoreThe Inequality Of Income Inequality Essay1507 Words   |  7 Pagesinequality has become a paramount topic in recent times, especially in the 2016 election. In addition of politicians and other government members discussing this gargantuan issue, professors, journalists, and others have written about this topic to inform the populace about income inequality, and provided ways to fix the issue. The authors Robert B. Reich, Gregory Mantsios, Alan Ajas, Daniel Bustillo, William Darity Jr., and Darrick Hamilton are experts within the field of economics and labor; however