The United States is said to be the richest country of the world, but that reality means little because much of that wealth is controlled by only a handful of individuals. The organization of a society and its economic, legal, political, social and moral enforcement institution profoundly affects its economic performance and growth. It determines the cost of various feasible actions as well as wealth distribution.
Let’s first, why is wealth distribution important to us? In the early 200’s the wealthiest 1% of families half one of the third of the total wealth, the next weakthiest 9% held another of the third, and the remaining 90% held the rest (Cagetti & Denardi 2005, Kennickell 2006). The decline and rise of inequality has varied between the Great Depression and World War II (Kopczuk & Saez 2004). Because of the limited fluidity in both ends of distribution it is more likely that the children of poor families will remain poor and the children of wealthier families are more likely to remain wealthy in the United States than any other wealthy country (Couch & Lillard 2004,
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As the old saying goes money can’t buy happiness but in my opinion it sure can pay the bills. Research suggest that not only are the lower class suffering from terrible health care but they are also suffering from more health issues such as anxiety, stress, heart disease, heart attack and strokes. It doesn’t take a rocket scientist to see why that is. If you’re a working American such as myself I’m sure you dread pay day, that means it’s time to pay bills but our paychecks can only stretch so far so living paycheck to paycheck causes major pressures which often leads to anxiety and other health concerns. which could also lead to death. Not all persons of the lower class deal with the pressures the same some turn to tobacco use, drugs and