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Income Inequality Research Paper

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Recommended: What factors lead to income inequality

“The rich are getting richer and the poor are getting poorer”, the first portion of that statement is true. White the latter is not. While some will argue that it is true with the US economy, empirical evidence contradicts this. First of all, most data that is collected in improperly and confusingly measured. Such as the data for the quintiles collected by the US Census Bureau, which divides the data by household, regardless of household size. This format is quite misleading. In addition, the information does not reflect the large baby boomer population now relying on retirement and social security income, which inflates certain quintiles. Most importantly, even if the income inequality is or does increase between the quintiles, the economic
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Many solutions, such as social investment, early childhood education, job training for young adults are avenues for addressing the shrinking middle class. Many of these ideas have been around since the 1990s, and most know that they will work, however, no one wants to pay the cost of such social investments. Thus, this is a fine example of how one topic, income inequality, can be addressed from two different angles, that of economist and that of sociologists, and what contributes to the inequality can be supported based on what is actually measured. In this specific comparison, due to the differences in disciplines addressing the same issue, the variables measured are completely different and as a result, yield very different results.

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There are people who work 40 hours a week and are still in poverty; this is a highly prominent issue. The uneven distribution of wealth, known as wealth inequality, is a problem that plagues not only America but also the world. With wealth inequality, there are two main issues and one solution to those issues. The problems are that the wealth in America is unevenly distributed and there people in America who work 40 hours a week and still have very little money. Wealth inequality is the root of all problems faced in America.

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Inequality in the accumulation of wealth in the U.S.’s black population stretches back to times of slavery and lack of reparations for their group’s enslavement to the Social Security Act and the Federal Housing Act (GIB 1). Racial discrimination lurks in the U.S.’s housing market from its very conception after WWII, when GIs began to return home in search of a new home (RTPI). Although, the Federal Housing Administration by no means a starting point for the cause of wealth inequality, it certainly exacerbated the gap. White suburbs like “Levittown” created a white exclusive ideal neighborhood which devalued black and other nonwhite homeowners. Housing discrimination prevented blacks and nonwhites from accumulating wealth like whites would

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In 2007, wages and salaries, which constitute income in the country, went down from 70% all the way to 60% (Gornick & Jäntti, 2014). During this time, the income that is generated by the top 1 percent of American households has tripled from 6 percent all the way to 19 percent. This ever growing disparity is being aggravated by failures in policies and in particular, the inequality is being blamed on years of progressive tax decrease, regulatory, transfer along with failures in full-employment laws in recent

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Inequality has been around since man first started to gather in groups. Since the time of the hunter gathers into the middle ages. Today in the United States inequality is worse than it has ever been, even with the significant dip between the 1940s and the 1970s. The increase in inequality is not limited to the United States but it is happening the fastest here. We have to look at the different factors that have played a role in the increase which are: technology, the decline in manufacturing and increase in globalization, and government policy.

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The article says, “While the top 1 percent have seen their incomes rise 18 percent over the past decade, those in the middle have actually seen their incomes fall.” (Stiglitz 2011) While the rich are getting higher incomes prices the poor are getting higher income by taking it from the one in the middle which therefore, makes them get a lower income percentage. America has fallen behind because of not being an equal country to the population by the income equality there is a huge gap between the income being earned by the poor and the rich. The rich are wealthy and the poor depend on the government for everything. As stated in the article, “America lags behind any country in the old, ossified Europe that President George W. Bush used to deride.

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Introduction All over the world, there is an obvious contrast between the living standards and lifestyle of the rich and the poor. Moreover, there is a large gap between the populations of poor and wealthy. This is known as the Wealth Gap, and it is caused by Wealth Inequality. Wealth Income/Inequality is defined as “The unequal distribution of assets within a population.” Wealth is defined as more than just the amount of income a person has, but instead the value of a person’s assets.

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