Essay on The Problems of Income Inequality

Essay on The Problems of Income Inequality

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Every American dreams of finding a job that pays well so that they may live comfortably and take care of their loved onesfor years to come. Most Americans hope to find some way to make a living that they enjoy, something that they view as productive. Unfortunately, many do not have this luxury. In our society, a good portion of the population is forced to hold the base of our country in place while hardly being redeemed for their time and effort, and thus the problem of income inequality. Numbers of these people live from paycheck to paycheck, barely getting by, not because they manage their money poorly, but because the value of their time at work is negligible (Chapter 2 Economic Inequality). Some may even sacrifice happiness at work to find a job that pays better simply because they cannot make ends meet at their current job. Some people sacrifice their sanity and eventually their life just to keep from going under financially. Segregation in income distribution is another cause of these problems, such as that with women or African-Americans who make less than other classes comparatively. In contrast, actors and actresses such as Brad Pitt and Julia Roberts make millions in the entertainment industry, an industry that grosses hundreds of millions of dollars a year creating what adds up to be the same kind of entertainment most people could get out of watching their children play sports or sing in a choir. The question then is how to find the value of work and time in our society and what should determine income.
Positive reasons for income inequality are hard to find. One reason is the incentives there are to achieving higher status of income. You are regarded as successful in the eyes of your peers, and if you’re financial se...

... middle of paper ...

If everyone in this nation were aware of the influence that income inequality has on the people’s lives, many would be surprised and outraged. While the incentive’s and rewards of higher income are what fuels the economy, and what raises our standard of living, reaching that level of income has been difficult in the past and seems to be getting worse. Income inequality has been on the rise since the 1960’s, according to the graph of the Gini index, a statistical index of inequality. Those incentives of higher income are becoming scarce and costly, and many people think it isn’t worth the work to reach it. The larger the gap between the social classes, the more prominent social classification becomes, and the more we, as citizens and human beings, should be prepared to make a stand for the basic right of standard of living that was initiated by our independence.

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