Essay on The Issue of Income Inquality

Essay on The Issue of Income Inquality

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With the economy changing every day, the problem of income inequality is becoming a very large and widespread issue. It is an issue of great importance for millions of middle and lower class workers who struggle day in and day out to improve their quality of life. The issue of income inequality has been going on for decades and seemingly has become part of the American way of life. The highest percentage of Americans fall in the Poor department, and it has been that way for decades, and will continue to be that way for decades to come. It’s as if it has been programmed to be that way. There are many aspects that are creating some sort of inequality among the American people. People today are making more money than they did in previous years. But, is this really true for everyone? Some say the rich are getting more and the poor are getting less. The gap between the rich and the poor of America is the largest of any nation and growing rapidly. But how is this inequality affecting America?
Throughout history, Americans have focused on the common goal which is known as the American Dream. The American Dream obtained its roots from the Declaration of Independence which states that "all men are created equal" and are able to do so through certain rights including "Life, Liberty, and the pursuit of Happiness". The ethos is interpreted as if you worked hard, you could do well enough to raise a family, own your home, send your children to college, and also have some extra to put away for retirement. However, this is opportunity is slowly slipping away for a large number of Americans due to income inequality. But what is income inequality, and why does it matter to the working class individual? Income inequality refers to how evenly or une...


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...ap between the rich and poor is larger than any other technologically advanced country. Yet, this gap seems to be of little to no concern to most people. So how did America get to where it is currently at? The political consensus has sought to pursue economic growth rather than the redistribution of income, in keeping with John Kennedy's adage that a rising tide lifts all boats (Katz). Except the only problem with that theory is that not all the boats are rising with the tide, instead a very large portion of them are sinking to the bottom. The largest income gap is between the middle working class and the top earners in the country. A report that was completed by the Congressional Budget Office found, that between 1979 and 2007, income grew by 275 percent for the top one percent, 65 percent for the next 19 percent, and just under 40 percent for the next 60 percent.

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