Economic inequality is the gap of wealth people have between the poor and the wealthy. Economic inequality is a controversial topic in America whether it is a problem or not. People think the rich are getting richer and the poor are getting poorer. In reality the gap is not as wide as the media portrays it. Economic inequality exists but is not a problem in America for many reasons. Most large businesses are owned by the wealthy, and they employ many middle and low income people. Most of the middle and lower income people are getting their income from being employed by the wealthy business owners, so there would be less jobs without the large businesses. The The U.S. Census Bureau also doesn't account for that the households in each quintile contain different numbers of people. The article, U.S. Income Inequality: It’s Not so Bad, states that,” lower income households tend to consist of single people with low earnings, where higher income households tend to include married couples.” This means that …show more content…
This means that people who just got out of college with a lower paying job will be on the lower end of the gap. But as their life goes on, they get betting jobs which can move them from being lower class to middle class. When people also go into retirement they could move down a class because they are earning less money. So a lot of people in the lower class are people who just graduated from college or people who are retired. This is a reason why economic inequality isn’t as bad as it seems, because people can easily move up to a different class. According to , U.S Income Inequality: It’s Not so Bad, “ the top fifty seven percent of the richest one percent of households in 1996 fell out of that category by 2006.” The U.S. Census Bureau does not factor the potential that people have when they are measuring economic