Large Gaps Of Wealth And Income Inequality - 2159 Words

LARGE GAPS IN WEALTH AND INCOME INEQUALITY INFLUENCE DEMOCRACY IN THE U.S. Karen Freitas Ashford University September 05th, 2014 Large gaps in wealth and income inequality influence democracy in the United States Human development is majorly concerned with what the state government is doing to make its citizens transform their environment to a productive and creative atmosphere, which can make them acquire all their needs and interests. People are the real wealth of any given nation, therefore if people are rich, the nation is rich. The theme of â€Å"The rich continue becoming rich and the poor continue becoming poor† has continued to gain a considerable rise among most American citizens (UN, 2010). This paper will addresss some of the reasons why citizens of the United States of America have disparities in acquiring wealth. It also shows how most of the American has continued living in a low-income life and how the government has continuously ignored their plea. Including the futile attempts the government is putting in place to reduce the gap between the rich and the poor as well. One of the so called American Dreams has always been for the American citizens to be able to activilly participate on most of the American government affairs. In fact, according to Robert Hauhart American Dream is mainly equal opportunity for every single American, including opportunity to become wealth (Hauhart). Freedom of speech, where citizens feel free to criticize and comment on stateShow MoreRelatedThe American Dream1560 Words   |  7 Pagesand further from reality and the large gap between people of all kinds is becoming commonly known. In 2011 the first large scale movement, Occupy Wall Street, that showed that Americans were conscious of the economic inequalities in the country and the world. People protested the â€Å"1%†, the top group of wealth owners in the country, and aimed for equality. The media even started to show the inequality between the 1 percent-ers and the rest of the population. The gap between the mega-rich and the restRead MoreWealth Inequality i n the US with Sociological Viewpoints Essay1102 Words   |  5 PagesWhat is wealth inequality? â€Å"It is the difference between individuals or populations in the distribution of assets, wealth or income.† [1] In sociology, the term is social stratification and refers to â€Å"a system of structured social inequality† [2] where the inequality might be in power, resources, social standing/class or perceived worth. In the US, where a class system exist, (as opposed to caste or estate system) your place in the class system can be determined by your personal achievements. HoweverRead MoreIncome Gap in Canada949 Words   |  4 Pagesbetween income and wealth. How has the occupy movement contributed to this debate? Inequality in Canada is a growing problem. As income rises for the rich and remains the same for the poor, a gap is forming between Canada’s highest and lowest earners. This gap has sparked outrage by some, resulting in the Occupy Movement, and apathy in others. However, it can indeed be said that in Canada â€Å"the rich are getting richer and the poor are getting poorer.† The reason for Canada’s large gap in wealth is bestRead MoreThe Distribution of Wealth 1542 Words   |  6 PagesDramatic facts surround the nature of the distribution of wealth becoming more concentrated during the period between 1983 and 2004. In good parts of the period, labor unions were defeated and implementation of tax cuts for the rich took place. 42% of the entire financial wealth generated by the economy of the United States during the 21-year period went to the richest 1%. 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Or, to provide a better understanding of the wealth gap, think of it as â€Å"the haves† and â€Å"the have nots.† Of course the haves are the wealthy one percent of the population that controls almost 20 percent of the wealth. On the other hand, the have nots are the remaining ninety-nine percent fighting for a piece of the remaining eighty percent of the wealth. Regrettably, manyRead MoreEssay on wealth inequality in america1518 Words   |  7 PagesClosing the Income Gap In today’s capitalist economy, where economic transactions and business in general is centered on self-interest, there is a natural tendency for some people to make more than others. That is the basis for the â€Å"American Dream,† where people, if they worked hard, could make money proportional to their effort. However, what happens when this natural occurrence grows disproportional in its allocation of wealth within a society? The resulting issue becomes income inequality. WhereRead MoreWealth Gap Between Whites And Minorities Essay1649 Words   |  7 PagesWealth Gap in America America has a lengthy history on how it became the powerful country it is today, and although its history can be interrupted in many ways (depending who you ask) one thing that is for certain is that wealth has yet to be distributed equally amongst minorities. According to the article â€Å"Income inequality matter; Extreme gap in wealth makes society unstable.† Philip Meyer claims that the wealth gap between whites and minorities has existed since Ronald Reagans’ term of presidencyRead MoreA Brief Note On Progressive Tax And Tax955 Words   |  4 Pagesis a tax in which the rate of the tax increases when the taxable amount increases. Progressive taxation is the process in which the tax rates increases form low to high according to the income of the people. United States currently has this type of taxation method. Progressive taxation helps in the income inequality, maintains social justice and furthermore adds more revenue to the government. Tax plays an important rol e any country. There is no country which can run without the tax. Money that isRead MoreIncome Inequality Essay938 Words   |  4 PagesIncome inequality has affected American citizens ever since the American Dream came to existence. The American Dream is centered around the concept of working hard and earning enough money to support a family, own a home, send children to college, and invest for retirement. Economic gains in income are one of the only possible ways to achieve enough wealth to fulfill the dream. Unfortunately, many people cannot achieve this dream due to low income. Income inequality refers to the uneven distribution