Economic inequality in America

Topics: United States, Economic inequality, Income distribution Pages: 3 (963 words) Published: February 25, 2014
Economic Inequality in America
The Occupy movement gained fame in September 2011 with a slogan that brought together a wide range of people, “We are the 99 percent.” The goal of the group is to get rid of economic inequality throughout the world. The group sparked a change in the way many people look at the way the world is. Wealth inequality is a word used to describe how money and assets are distributed among a group of people, in this specific case, the group of people is the population of people living in the United States. Everyone knows there is economic inequality in America, but the degree of inequality is highly contested. Why inequality is occurring is another topic people can’t seem to agree on, is everyone given an equal chance or are some at an advantage over others based on their connections.

Many people believe America was and is a land of opportunity, many people have immigrated to the United States to start a new life in a country that regardless of who you are, where you came from, and who you know, you have a chance to make something of yourself. Many people now believe that the United States is not the land of opportunity it once was, The Occupy movement began protesting how wealth is distributed in the United States. Using slogans like “Of the 1 percent, by the 1 percent, For the 1 percent.” The movement caught many peoples’ attention. The group claimed that the wealthiest 1 percent of Americans held too much of the wealth of the entire countries population.

The top 1 percent of earners make an average of $717,000 a year (Dunn) while the average of all americans is $51,000. The average net value, or total worth of all assets of the top 1 percent is 8.4 million dollars or 70 times the worth of lower classes. The top 1 percent control 43 percent of the wealth in America and the next 4 perent control an additional 29 percent, so the top 5% of Americans own 72 percent of the wealth of all Americans. The occupy activists think its wrong...

Cited: "Arguments (and Counterarguments) Against Fixing Income Inequality." Untitled Document.
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Dunn, Alan. "Average America vs the One Percent." Forbes. Forbes Magazine, 21 Mar. 2012.
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Matthews, Dylan. "Research Desk: Did the Top 1 Percent Inherit Its
Wealth?" Washington Post. The Washington Post, 04 Nov. 2011. Web. 19 Nov. 2013.
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