Wealth Gap Essay

The wealth gap in the United States has greatly increased since the Great Recession in 2007-2009. In 2007 the upper class increased in wealth, whereas the lower and middle class had no increase in their wealth. According to Pew Research Center, the upper class net income was 6.6 times greater than before 2007 (Pew Research, 2014). The different types of wealth gaps are due to their income. Wealth is “the difference between the value of a family’s assets (such as financial assets as well as home, car and businesses) and debts (Pew Research, 2014).” In the United States 46% of America’s families being classified as middle income in 2013. One-third of families were lower income and 21% were upper income. Incomes represent wages and other earnings

Rather than help the upper classes income. It makes more sense to add a tax on the upper class that will help the middle and the lower class. There are good points to this and bad points. It would be a good idea to equal out the wealth gap. But, on the other hand it would also make people lazy who are living paycheck to paycheck because they think they will get free money. Just as people already take advantage of the food stamps privileges, people will do the same if there is a tax put on the upper class. According to the census of 2015, one in five children receives food stamps in the United States (Census, 2015). We hope that not all of these people are taking advantage of these food stamps. But, we know it is occurring to a percentage of the food stamp collectors. The lower class and middle class need to help raise their children the right way and have them attend college. Children are our future. The children that we raise are the ones that could change our world in the future. The children education is important in order to help reduce the wealth gap. If the have a good education they will have the intelligence to help progress in science, technology and many other aspects in