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Income Inequality In The United States Essay

556 Words3 Pages

Lily Gregory
Brian Kuzma
ECON
February 13th, 2018
Inequality in the United States
The United States’ gap of inequality is progressively widening as years progress, making it known as the country with one of the highest unequal distributions of income. Although the U.S. economy seems to thrive given its richness in monetary value, many people within the country hold more money than others, leaving room for a huge gap in income inequality. With such high inequality of income, social mobility steadily decreases resulting in difficulty of reaching such high ranks of income. Social mobility is defined as the ability of individuals or groups to move upward or downward in status based on wealth, occupation, education, or any other social variable. The American society operates on the idea that an individual's …show more content…

As people attempt to move up the ladder of social mobility, many fall down as well, which results in a disappearing middle class which is essential to an economy’s stability and strength. The middle class keeps the economy going and it creates jobs which is crucial to the United States’ economic growth and development.
Inequality also exists at the highest levels of elected office and congress where women and minorities do not reflect a diverse population. This results in public spending and laws that do not protect minority business owners, government spending and public employment with minorities. There are many ways to help improve our economic system though that we should consider implementing. The problem isn't that the rich are spending too much, its that they spending too little. We must encourage investment by the wealthy to small businesses to create job opportunities and allow for minorities to climb up the social mobility ladder again. It is also crucial to consider

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