Grand Challenges Of Income Inequality

Income Inequality Analysis 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. Representatives have debated income inequality recently and what the causes and solutions are. Income inequality can be defined by variances among people earning highest levels of income, or earnings and those with the lowest levels. Some of the main issues are size of these differences, change over time, and other differences among these populations (U.S. Bureau of Labor Statistics," 2015).
Income Inequality Statistics Increasing
The median weekly wages for full-time workers age 16 and older in 2014 was $791. In 1979, median weekly wages adjusted to dollars in 2014 were $733. Therefore, inflation-adjusted median weekly wages increased by about 8 percent over 35 years. During that same time period, inflation-adjusted wages for the highest paid 10 percent of employees increased from $1,422 per week in 1979 to $1,898 per week in 2014, a 33 percent increase. In comparison, real weekly earnings for the lowest paid 10 percent of workers basically stayed the same over the period, as these workers were paid less than $383 per week in 1979 and less than $379 per week in