Income Inequality In America

Introduction:
Income inequality has affected Americans in many different ways. Americans are faced with making decisions that will determine how they will earn enough money to take care of their families, as well as, send their children to college and invest for retirement. In fact, many Americans have even lost their homes due to the change in their incomes. Regrettably, the American people cannot achieve what they once thought would be achievable. Income inequality occurs when there is an uneven distribution of income and wealth between the social classes of American citizens. Women are even more vulnerable to the income inequality than the men are. Women are more likely to become head of their household and become sole breadwinners for their …show more content…
In the process of trying to secure a future many Americans have fallen short, not because of the lack of effort on their part, but because of the un-fair wages that they’ve received. Many politicians, economists, sociologists and even the president of the United States have discussed strategies to help the working class families make ends meet. Income inequality has caused Americans to suffer to the point that they delay major life decisions and the purchases that go along with them. Many are not establishing families, not buying houses, not buying cars, not investing in retirement. Consequently, the economy as a whole suffers. For example, the housing market is a strong indicator of the health of the economy. When people stop buying homes the value of real-estate declines. When the value of real-estate declines people who already have homes have less equity to draw on. When people have less equity to draw on they spend less. Since 70% of our economy is driven by consumer spending our economy is affected as a whole. Another example is the auto industry, which has a far reaching on the economy as well. When the demand for goods like automobiles decreases, it places industries in jeopardy without the demands for goods production slows. When production slows people get laid off and here again the economy is

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