Preview

Wealth Inequality In America Summary

Satisfactory Essays
Open Document
Open Document
227 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Wealth Inequality In America Summary
After watching the video, "Wealth Inequality in America", published by Politizane, I was surprised when finding out that only the top one percent of America has 40 percent of all the nation's wealth. It was also surprising to discover that the top one percent owns half the country's stocks, bonds, and mutual bonds, while the bottom 50 percent of Americans own only half a percent of these investments. One of the notions I had that was challenged by the video was the amount of money the wealthy actually have compared to the rest of the classes. I was aware that wealth mostly distributed to the wealthy class, but I never imagined that the division between the wealthy class and the rest of the classes would be so huge. Its incredible that the CEO's

You May Also Find These Documents Helpful

  • Good Essays

    Individually, the U.S. has the one percent of Upper Class, the thirty percent of the Upper Middle Class, the thirty two percent of the Middle Class, the seventeen percent of the Lower Middle Class, and lastly, the overwhelming twenty percent of the poor. Now lets specifically look at that top one percent and the bottom twenty percent. How is it that one percent of America controls fifty percent of the national currency, and twenty percent controls a small fraction of it? A major reason for this is due to the rich influencing a specific idea or creating legislation for wealthy politicians in return for a large payoff. If a person were to look at Paine’s quote, “There, the poor are not oppressed, the rich are not privileged,” he/she would be in great…

    • 467 Words
    • 2 Pages
    Good Essays
  • Satisfactory Essays

    A redistribution of wealth would automatically cause laziness. The ideology of redistribution is against America's economic system. It will take away from society's growth opportunities like when the rich cannot start a new business or hire new employees, and basically hurting the economy because of this. When you tax income you get less of it. People will have less money to invest, save, and use. When you take away Neil’s money to pay Sam, Neil will either move away or quit working because he has zero incentive to earn money, and won't get a dime, and since Neil is not working Sam will have no money. Redistribution ruins productive habits and investments, which leads to no economic growth. The people who depend on the redistribution of wealth…

    • 289 Words
    • 2 Pages
    Satisfactory 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

    This article by Julia Limitone describes the state of our current economy and what some economic advisors are expecting for the future. While a few have a negative outlook, some believe the United States economy is doing incredibly well under the circumstances.…

    • 369 Words
    • 2 Pages
    Good Essays
  • Powerful Essays

    Some people feel the rich do not pay their fair share in taxes. “The 95th/50th ratio in 2011 was $186,000 divided by $50,054, which equals 3.72. In other words, the income of houses in the 95th percentile was 3.72 times the income of households in the 50th percentile. Those in the top 25th percentile obtained a vast majority of the income in America (79.5% in 2007 and 75.9% in 2010.” (Evans, “Wealth”). This does prove that wealth is not evenly distributed among all Americans, which is an understandable thing to be upset…

    • 1059 Words
    • 5 Pages
    Powerful Essays
  • Satisfactory Essays

    Krugman suggests that we take the United States economy for granted, he thinks that extreme inequality is an “inevitable byproduct of robust economic growth in a globalized age are not inevitable at all”. Political choices not economic laws, have helped form the United States to become a world superpower and a nation of the very rich, the very poor and an increasingly fragile middle class. His approach to how society should handle these social and economic probelms is for the people to take back the goverment and make society equal again. He supports the idea of a “new, new deal” but thinks that the government is run by a movement that is dedicated to policies that are against most Americans' interests, and must try to compensate for that…

    • 383 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Wealth Gap In America

    • 612 Words
    • 3 Pages

    As someone who identifies as a millennial, an issue that is of importance is the wealth gap. While time has progressed, there has been a rise in the wealth of those who are already wealthy, and there has been a lower standard of salary implemented for those currently entering the job market. This is partly caused by the stagnating median wages that have become a very common trend in the United States of America. Consequently, there will be detrimental affects on my generation, along with my family.…

    • 612 Words
    • 3 Pages
    Good Essays
  • Good Essays

    In the United States, the top ten percent of all households own seventy-six percent of all the wealth in the country (1). Income inequality is frequently highlighted, but why is wealth inequality rarely brought to our attention? The political system has failed to deal with the problem, and the gap will only continue to grow in the future. How can we call this the land of opportunity when the bottom forty percent will most likely stay the bottom forty percent for their entire lives (1)? That is why I offer a modest proposal to overthrow the current system and establish a Utopian society built from the rubble. This Utopia, which I shall refer to as the United Socialist States of America (USSA), is going to be built around the premise of economic equity through the equal distribution of resources and knowledge. This would create a society without greed because money is the ultimate…

    • 1249 Words
    • 5 Pages
    Good Essays
  • Good Essays

    Wealth inequality can be described as a lot of different things. The one that comes to mind the most though is the gap between the rich and poor. This gap is made up of a variety of different things. The one that comes to many minds is the tax code system. In order to correct the wealth gap in the United States efforts should be made to change the tax codes to close the gap between the rich and poor.…

    • 893 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Inequalities In America

    • 1055 Words
    • 5 Pages

    The word “opportunity” is defined as the circumstance available to achieve one’s goals. It is a word that is especially applicable to America; the idea of America as nation where anybody has the opportunity to succeed is so embedded into the American identity that “opportunity” has transcended its dictionary definition. It has become an intrinsic part of the American Dream, a word ingrained with the history of many generations. To many, America is often considered the land of opportunity; from the earliest colonizers, who sailed across the Atlantic Ocean for religious freedom and economic gains, to pioneers who traveled in wagon trains to the American west in pursuit of gold and land, to immigrants throughout history who have come to America for a better life. America has always been seen as a place where people can strive to improve their lot in life, as long as they had the determination and perseverance to do so. Despite this idealistic image of America, however, it is not always supported in reality. We should aim to appreciate, to strive for, to live the ideal that hard work leads to success, but we should also acknowledge…

    • 1055 Words
    • 5 Pages
    Good Essays
  • Powerful Essays

    The world always been an unequal place. Today, people are treated for not who they are, but for their religious background, race, gender and financial status. Inequality in the United States of America is present in a highest level. America is a country that reunites all seven continents in itself, moreover, it is possible to find people from various backgrounds here. However, not all of these people are treated equally. It is disappointing to see that how everyone is classified in this country. Indeed, if there is a crime the suspect must be a black male, if there is a terroristic attack or threat then the suspect is most likely to be a Muslim, if there is a robbery the suspect will be an illegal immigrant from Mexico. The root of this problem comes from the past century where people were judged by the color of their skin and this problem…

    • 1533 Words
    • 7 Pages
    Powerful Essays
  • Good Essays

    The United States is a capitalism nation, which is a normal phenomenon to have a wealth inequality. Otherwise, it would be a communism nation. However, when the wealth gap is too wide, there would be a big problem. In recent years, the wealth gap has expanded historically and unprecedentedly wide. The middle class and working class people start suffering. If the gap keeps expanding, the United States will be destroying by this economic issue. A better way describing this situation, The United State is having a cancer that cannot be exacerbate and has to cure.…

    • 1347 Words
    • 6 Pages
    Good Essays
  • Good Essays

    Inequality In America

    • 933 Words
    • 4 Pages

    When we hear the word “America” we often think of independence, opportunity, and success. Equal opportunity can be defined as every individual granted a fair chance and should be treated the same. The opportunity should overlook religion, race, sex, ethnicity, etc. For the last couple of weeks, we’ve been studying the nature of inequality and how it’s had a negative impact on society. From the outside looking in, it seems as if America is the land of equal opportunity, however, that is not accurate. The United States is not the land of equal opportunity. People of different races have to fight daily for fair opportunities. Inequality affects the ability of people who wants to improve the standards of their lives and contribution to society.…

    • 933 Words
    • 4 Pages
    Good Essays
  • Better Essays

    Inequality In America

    • 1031 Words
    • 3 Pages

    Some may say that the United States is a country of opportunity. Many say this because the European migrants came to the United States in order to escape from oppression. However, opportunity is when all the citizens of a country get the chance to live equally in society and are treated fairly under the law, regardless of race or gender. However, the “Declaration of Independence” by Thomas Jefferson, and “The Myth of Latin Woman” by Judith Cofer show the sexism that has existed in the United States. “The Telltale Heart: Apology, Reparation, and Redress” by Charles Lawrence and Mari Matsuda presents the injustices that the federal government has committed towards specific groups of people. Martin Luther King’s “I Have a Dream” speech, “The Library Card” by Richard Wright, and “We May be Brothers” by Chief Seattle show the racism that has been prevalent in American society. These issues may have started decades ago, but they still exist in today’s society. Racism, sexism, and injustices committed by the federal government prove that the United States is no longer the land of opportunity.…

    • 1031 Words
    • 3 Pages
    Better Essays
  • Good Essays

    If people aren’t earning enough a lot of money, all they need to do is work harder they’ll get ahead.…

    • 1104 Words
    • 5 Pages
    Good Essays