America's Wealth Gap

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One major issue in the United States today is the increasing wealth gap between the rich and the poor. This is defined as the unequal distribution of financial assets among a population, such as property, valuable possessions, stock, savings, and investments. It has been growing significantly since the 1970s due to a decline in economic growth and is currently at its widest point since the Great Depression (Lubin). In fact, “the top 400 richest Americans now have the same wealth as the bottom 150 million Americans put together” (Williams). This is an exponentially growing problem for the country, as more and more people are struggling to support themselves and their families.
In the 1970s, a major economic crisis was beginning to develop in the United States after a period of much prosperity post-World War II. One significant reason for this was the Arab Oil Embargo, which prohibited any supporters of Israel, such as the US, from obtaining oil from Egypt and Syria. As a result, many companies filed for bankruptcy, public unrest broke out, there was a decline in production of good...

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