Income Inequality In America Essay

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Social Mobility is the movement of individuals within or between social strata, known as a change in social status. Those who are in the top strata enjoy power and prosperity while those in the bottom strata struggle to get by. In a stratified society, inequality is passed down from one generation to the next. Being raised in the same cultural surroundings brings out similar response patterns. In American history most people live and die in the same social standing they were born in. Does economic inequality exist in modern America? President Obama calls it “the defining issue of our time.” Income inequality represents how evenly or unevenly income is spread in a society. The United States has a high amount of income inequality because there is a large gap between the richest and the poorest people in America. Income inequality has been increasing since the 1970’s. The U.S has among the highest …show more content…
If there is social equality every citizen would have access to education and health care, allows for balance in wealth, unity, improved living standards, and a classless society. The bad part of social equality is that the government will have most of the control, poverty, stopped economic growth, demand for higher taxes, lack of motivation, and unnecessary spending of the government. Socialism exists to bring equality and push for a classless society.
Inequality means there is a gap between the people with the highest and lowest incomes. You can say inequality is necessary for a free market economy. Without any inequality there would be economic stagnation and lack of enterprise. Inequality is a type of market failure. The cons of inequality are social problems, unemployment and inherited money. Social inequality could benefit some people. If someone works harder and makes a higher salary, then it is not a market failure. Some people should get higher incomes than others if they have the

Income Inequality In America Essay

Income inequality in the United States is a massive problem. Studies show that in 2010 the richest 20% of Americans owned 89% of the wealth (Domhoff). It’s no secret that there is a major income divide in this country, but most people are still somehow incapable of grasping the reality of the situation. Polls of average working Americans show that they fail to understand where they truly sit on ladder of wealth in this country. Many believe they are better off than they actually are, or think they…

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