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Wealth Inequality In America Essay

Time is Money A plethora of research studies exist on the topic of wealth inequality in America. There is no question that the top one percent of earners consume a large portion of wealth in this country while the other 90 percent of earners share the left-overs. Some of the related questions that I found during the course of my research are 1) Why are wealth and income distributions so vastly disproportionate? 2) Can America bridge the wealth gap? 3) If so, how? 4) Has the wealth gap increased over time? 5) Are there public policies that influence wealth inequality? And, 6) Is America’s middle-class growing poor? Those are just a few of the many questions that circulate the discussion on wealth inequality in America. However, the two…show more content…
Wealth is defined as the sum total of assets minus liabilities as explained by Inequality.org’s article on wealth inequality. The article went on to explain that, “Assets can include everything from an owned personal residence and cash in savings accounts to investments in stocks and bonds, real estate, and retirement accounts. Liabilities cover what a household owes: a car loan, credit card balance, student loan, mortgage, or any other bill yet to be paid”. Income is defined in the Merriam-Webster’s Dictionary as a monetary gain from “labor, business, or property”. For example, a person’s weekly income is derived from their hourly wage multiplied by the amount of hours they work weekly. To further distinguish wealth from income, it is important to view them from the perspective of inequality. Wealth inequality is “The unequal distribution of assets (including money, business income, homes, automobiles, and investments) between the wealthy and the rest of society” explained Andrew Walter in his document “Wealth Gap: Overview” (2). Whereas income inequality is, “The difference in income between societies or between groups within a society” (Walter

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