Wealth Inequality In The United States

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They call it the American Dream because you are asleep to believe it- George Carlin. The American dream phrase is linked back to historian James Truslow Adams, who defined the term in his 1931 book "The Epic of America. James defined the American dream as, "a land in which life should be better and richer and fuller for everyone, with opportunity for each according to ability or achievement," and "regardless of the fortuitous circumstances of birth or position." When most people think of the American dream, they think of pursuing higher education, getting married, owning a home, starting a family, and living comfortably financially. The American dream was once alive and thriving, but today, many Americans believe the American dream is dead …show more content…
The belief that all Americans have an equal chance to improve their lives is untrue. Social mobility has decreased in recent decades, median wages have remained stagnant, and the younger generation is projected to be less affluent than their parents, which is a first in modern history. The American dream is often seen as the idea that each generation will surpass the previous one in terms of success. However, this belief is becoming less true over time. Data shows people born in 1970 could outearn their parents from the 1950s when they were in their early adult years. Despite this initial success, their progress slowed in the 2000s when they reached their 30s. Now, in their 40s, their earnings are lower than their parents at the same …show more content…
These low-income first-gen students cannot obtain degrees that will cater to their professional careers. Even though many argue that you do not have to go to college to be successful, many professional and high-ranking jobs require degrees. Going to college is more expensive than ever, forcing students into debt to fund their education. Educationdata.org accumulated data on student debt, and the research shows, "The average federal student loan debt balance is $37,088, while the total average balance (including private loan debt) may be as high as
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