Income Inequality Essay

1210 Words3 Pages

There are many factors involved that determine the financial standing of a person for family. Income is the amount of money an individual can make. This means money, earned for a job or investments. Through income a person can acquire the necessities and luxuries to make it through life. There an astronomical difference between the income of the top level and the income of the bottom level. Many Americans live in debt making it from paycheck to paycheck. The top elite live a life most cannot even imagine. The income level of a person allows for their life style to afford a certain amount of extravagances. This amount of high or low income is an accurate way of to reflect the economic position of a family or person. The gap of income inequality is growing larger and only makes income that much more of a status. The number of families with incomes over $100,000 has been growing, more than the other categories. The gap in the corporate world is just as bad. CEOs salary increases disproportionately to that of the lower end workers. (book pg 21-34) There are also tax cuts to consider. Many countries use taxes to more evenly distribute and regulate the hording of income. The upper echelon would be taxed at a higher rate than the lower, resulting in a more even distribution. Both positions have their importance the CEO should make more than a cashier. However, there should also be a more even increase of pay percentage wise. This unequal distribution of income only helps to cement the positions and status of the leading income earners. The rich get richer faster and lower paid do not have a chance to accumulate their income. (book pg

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