Wealth In America

Everybody wants to become rich; in fact, not everyone is rich. Some people are born under a rich family, but some are not. The one of the economic problems that America has is that there is a huge the difference between the average income of the top 1% of the population and the average income of the rest of the population. What can be done to minimize the gap between two groups? The solution is the rich people; they should not hold on to their wealth, but they should contribute part of their wealth in order to make a better society.
First of all, what does wealth mean? Wealth is a subtraction of individuals' total assets by total liabilities. Assets can be anything that a person owns.A car, a house, and even cash can be defined as assets. Liabilities are something that people …show more content…
Every time when the government tries to fix or make a new law, not all of the citizens agree with it. For example, the taxation is always a controversial issue either when the government tries to reduce it or tries to make it higher. According to The Millionaire Next Door, “Many high-income earners in America … are greatly concerned about the actions of the federal government” and those concerns are: “Paying increasingly high federal income taxes, Increased government spending and the federal deficit, A high rate of inflation, and Increased government regulation of business and industry” (Stanley 92). Government might be doing this because there are lack of the money or some issues should be revised. However, if people of the top 1% go help with some of the little social issues or social difficulties, it can help the government and the condemnation of the citizen will be reduced; and those citizens are usually rich people themselves. If they dedicate their money and there are no issues, they will not have to worry about increase of tax. Thus, the government is not the only factor that can change the society into