preview

Income Inequality Essay

Better Essays
There seems to be a huge gap of inequality and it seems to do nothing less than get bigger. Inequality is an issue within our country and is restraining the U.S. from being top notch the way it could be if we put more effort in. The U.S. has the most unequal distribution of wealth and income by far. The middle class is the heart of the economy and it keeps it going. The United States of America has the most unequal distribution of income and wealthy far, verging to an even greater inequality (5:33). The pillow company CEO is interested in lessening income inequality, because even though he is rich, it still effects him. With the problem of income inequality, his products cannot be sold as much. This is because people are no longer able to…show more content…
There are many reasons for this; a big reason was because there was very low inequality (8:31). They also made it a national priority to get people the education they needed to succeed in life and the priority to get a higher education increased tremendously. They agreed to pay the costs of college for the people that returned from war and made higher education affordable for everyone. By the late 1950’s they had the best educated workforce and labor unions rose; one-third of people belonged to a union. Creating the biggest middle class, wages increased, workers bought more, companies hired more, the tax revenues increased, the government invested more, and workers were better educated. Even though education plays a big role in our economy, America seems to be making it harder to get a good education. 41 states started to cut spending on higher education making tuition and fees raise. The colleges need to make money and the states cutting spending just made it harder on the people. Inequality is definitely linked to education and is one of the reasons there’s such an enormous gap. It seems as though America just doesn’t want to see itself be better educated than the rest of the world. Education lifted people out of poverty and into the middle class during the great…show more content…
The definition of capitalism is individuals that own the means of production, based on the competition (pg. 332). The owners determine production and set prices in capitalism. The pursuit of profit is the reason for distributing goods and services. Socialism is where the public own the means of the production, and central committees plan production and set prices (pg. 332). When there is no competition there is no profit motive in the distribution of goods and services. Regulated capitalism are regulations on private enterprise that enable policies or processes that benefit citizens. In regulated capitalism, the enterprises are all alike (“Well Regulated