Preview

Economic Inequality And Income Inequality

Good Essays
Open Document
Open Document
747 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Economic Inequality And Income Inequality
Economic inequality encompasses two very concerning issues that negatively affect the citizens of the United States as well as those in other countries. The first is income inequality; "This describes the gap in how much individuals earn from the work they do and the investments they make." Secondly, there is wealth inequality which "measures the difference in how much money and other assets individuals have accumulated." (Matthews, 2014). There are a variety of opinions on how to address these issues. Some of these ideas include the government requiring large companies to redistribute income so that there is not such a huge gap between the CEO and the laborer, then there is affordable education which would allow more people to go to …show more content…
I think she makes some great points on how inequality and unfair practices fall most on the poor, lower class people. She cites Robert Putnam's thesis that says, "That instead of talking about inequality of wealth or income among adults, we ought to focus on inequalities in all of the ways children accumulate, or never tough opportunity." (Badger, 2015). I never realized it but it starts early. A child of parents who struggle to make ends meet on a regular basis may not get to attend day care. So when they start school, they are already behind what the children from more affluent families have been exposed to. Then when they get into school, they're not allowed to participate in extra curricular things because they may not have the money to pay for the uniform or participate in a competition. If they do get to play, they may suffer from not doing as well academically due to the No Pass, No Play rule. These kids from lower income families typically don't get help on homework, studying or projects so it's easy to see why they might fall farther behind. Without all of these experiences, entrance into college is much harder, and finding money to pay for it is even more so. So this kindergartener, that came from a one parent home, and did not attend day care may just have bricks on their head as far as how much they can grow and close their own inequality gap. So why not level the playing field for students. The government funds all kinds of programs that do not seem to help, so maybe we should provide child care and Pre-K programs to all low income students. And then we should make sure that they get the support they need academically and waive fees for school sponsored activities. Let's make things more equitable for all students and close the

You May Also Find These Documents Helpful

  • Powerful Essays

    Robert H. Frank explains that the income inequality is hurting our economy and over all well-being. During World War 2, the income rate rose tremendously at the same rate. America during this time had a great economy with a bold middle class striving to receive the American dream (Frank, 581). Plenty of new building and complex infrastructures were built and people were sanguine; the American dream was passionately alive. Life for many Americas was great, the country as a whole was striving with new complex infrastructures which a small gap between the rich and poor. Unfortunately, during the last three decades the economy had fallen and therefore, increased the income inequality. There has been no evidence proving that greater income inequality helps strengthen our economy. Recent studies have found that countries where income inequality grow fastest has shown the largest financial distress. These financial distresses include heightened divorce rates, increased bankruptcy filings and long commute times. In my opinion, everyone should agree that the elevated income equality is a negative and do something to prevent it. This is only one of the many obstacles that make the goal of the American dream…

    • 1045 Words
    • 5 Pages
    Powerful Essays
  • Powerful Essays

    The U.S. is home to some of the world's wealthiest families and corporations. It is a land of opportunity for many; however, among developed nations America has the highest rates of income inequality. Income inequality has been rapidly rising in America since the late 1970s. Income inequality has a host of social-economic consequences, and the topic has become a cornerstone issue for the socialist senator from Vermont, Bernie Sanders. His campaign is heavily focused on the economy, but more than that, his economic policies are heavily focused on reversing the upward trend in income and wealth inequality.…

    • 1160 Words
    • 5 Pages
    Powerful Essays
  • Good Essays

    As a result of this issue, numerous policy debates are ongoing with the aim of ensuring that the rising levels of inequality are contained. According to Weinberg & Steelman (2005), from the 1960s, the issue of rising economic inequality has been a major issue not just in the US but globally. The two cite wage inequality as one of the factors that has led to the current income inequality issue. They are of the view that from the 1970s, the issue of wage inequality has been addressed sufficiently and as a result, this has led to the current predicament that the country is in. While there have been arguments that the current income inequality is as a result of globalization because it has facilitated increased cases of global immigration and trade,…

    • 407 Words
    • 2 Pages
    Good Essays
  • Better Essays

    The rich, the middle class and the poor. These so-called "titles" are defining Americans today. What is income inequality and why is it a problem? Income inequality is the extent to which income is distributed in a population. In the United States, that gap between the poor and the rich has expanded immensely over the past ten years. Income inequality is a constantly debated topic today with different opinions and solutions; economists, writers, and politicians all have different views. For example, Paul Krugman and Robert Reich have different opinions than Maura Pennington. As people of different social status, religion, and political preferences view inequality differently, the solution is vastly different amongst these…

    • 1617 Words
    • 7 Pages
    Better Essays
  • Good Essays

    Wealth inequality is also a major issue between the rich and the poor. Wealth is “the value of assets owned by an individual of family at a point in time. (Gilbert, 277). Even though the rich do pay taxes, it doesn’t affect them as bad as the poor. They are still able to live comfortably because of the property that they owned. These properties are sometimes inherited and passed down to them. Not only that, but it is most likely that they also have some sort of savings or safety net to maintain their lifestyle in case anything should happen. The poor on the other hand, even though they have to pay taxes as well, this can affect them drastically. Simply because majority of the time they do not own much. They do not own any property,…

    • 270 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Chile Income Inequality

    • 732 Words
    • 3 Pages

    Education is another cause of income inequality. The more education or training you get the more you will get paid and the faster you will climb up the ladder in the company. Most companies do not hire anyone off the street, getting a successful job requires skill and education. For example, the St. Cloud Hospital will not hire a nurse unless they have a four year bachelor's degree. No matter if a nurse had thirty years of experience but no bachelor’s degree, they would hire someone with a four year degree who just got out of school any day of the…

    • 732 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Income inequality is a grand challenge and is at the base of many other grand challenges. For example, with income inequality some supplementary troubles may be inadequate health care, lack of quality education and homelessness. Furthermore, reports have shown that that the income inequality has widened since the recession. Income inequality affects everyone, especially minorities. One believes that this is part of the problem in society that fuels racism and classism. It creates an obvious difference between socioeconomic classes and minorities are usually in the lower earnings level of these classes. If we are to solve some of the other grand challenges one believes that income inequality is the best place to start.…

    • 417 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Quintile Income Inequality

    • 1654 Words
    • 7 Pages

    Income inequality is often associated with negative things such as decreased quality of life and a lack of social mobility. Yet, the lower classes are receiving less and less of the United States’ overall income while the top earners' share is increasing. Why? This paper will explore causes of the growing income inequality as well as possible solutions to slowing it down.…

    • 1654 Words
    • 7 Pages
    Good Essays
  • Satisfactory Essays

    Economic Inequality

    • 155 Words
    • 1 Page

    Economic inequality in the United States has increased tremendously throughout the past decades and has consequently led to many social conditions that negatively impact the lower and middle class. The unequal distribution of income and wealth is primarily due to the capitalist government economy that deregulates markets as well as globalization and technological advances. Political inequality is similarly another consequence that results from the economic disparity that further affects democracy and political representation of many Americans. This likewise leads to the creation of social movements, in which many unprivileged Americans seek government attention to overcome the inequality that exists amongst the socioeconomic classes.…

    • 155 Words
    • 1 Page
    Satisfactory Essays
  • Better Essays

    Essay On Income Inequality

    • 1933 Words
    • 8 Pages

    Income inequality means that there is no equality between people. Also, there are big differences between the rich and everyone else. This problem grows year after year. Some people become poor and other become rich. The American Dream is related to income because everyone who wants to achieve the American Dream must have a great income. Rich and poor people are all human beings, but poor people have stolen money from each other because they do not have a great experience to get money. Rich people have great experience in business because they received from his or her family, also they study in great school and university. In addition, education is one of the greatest things to have the huge income. People who study in higher education will…

    • 1933 Words
    • 8 Pages
    Better Essays
  • Good Essays

    “Wealth inequality can be described as the unequal distribution of assets within a population. The United States exhibits wider disparities of wealth between rich and poor than any other major developed nation,” (www.inequality.org) There are two factors that I believe contribute to the wealth gap are income and race inequalities. As the gaps widen within those two factors, the wealth gap in the United States continues to grow exponentially.…

    • 555 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Income Inequality Essay

    • 758 Words
    • 4 Pages

    Income inequality has been, and continues to be, an issue among the different genders and ethnicities in the United States. The gap continues to widen not only between men and women, but also among other women when age, ethnicity, appearance, and physical limitation biases are taken into account.…

    • 758 Words
    • 4 Pages
    Good Essays
  • Better Essays

    Wealth Inequality

    • 1395 Words
    • 6 Pages

    Life in present-day America is very unequal. There are wide gaps in income distribution which causes negative impacts on the everyday lives of most Americans. This income gap is wider than at any other time in the past century. The United States has the largest gap between rich and poor than any other democratic country in the world. Income inequality has negative effects on the entire society. American minority groups and women earn less money than their white counterparts. The educational system in the country is suffering ranking fourteenth among industrialized nations. Research shows that the wealthier a person is the longer their lifespan will be. Increased crime rates in the poorer inner cities…

    • 1395 Words
    • 6 Pages
    Better Essays
  • Good Essays

    America is supposed to be all about equality, but if you take a serious look around, you will see that there is human rights issue going on all over America; this is just one of them. Things need to be reevaluated and adjusted as things change and growth happens, America do not seem to roll with the changes very well and are stuck in a moralistic, religious, patriarchal system. In recent years, the major concerns of economic development is the study of poverty, the income distribution and growth in the less developed countries or from all over the world have been doing researches and studies on how to induce a growth in those under developed countries.…

    • 747 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    Criminology

    • 516 Words
    • 3 Pages

    One of the most significant problems in the world now is that of economic inequality, and the social problems it produces. And the most damaging impact may be in developed nations such as the U.S. and Canada. The U.S. in particular has the greatest gap in wealth among all developed nations, and the problem it is causing is becoming more apparent with each passing day. During the recession in the U.S., at least 6 million people have lost their jobs; 25 million are underemployed. Eight trillion dollars of middle class wealth has been destroyed in the housing collapse. One out of eight mortgage holders owe more money on their home than it is worth. Fifty million people live at the poverty level. One of out of 8 people is on food stamps. One out of 2 children will be on food stamps at some point in their lives.…

    • 516 Words
    • 3 Pages
    Satisfactory Essays