Economic Inequality Gap Analysis

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Introduction
From the 1970s, the US has been suffering from a huge increase in the economic inequality, yet it stands amongst the richest economies in the world. The issue of inequality is the US as has been rife since time immemorial with the assertion; in this case, being that the problem has been in existence for decades. The consequent feeling among the Americans is that the problem of inequality still exists, with the majority of the people holding this impression being the uneducated (Ladson-Billings, 2011). The problem has been rising gradually, and the overall impression is that it is not fair. There is a huge disparity between the rich and the poor in the American society and the challenge is that enough is not being done to address the challenge presented this inequality. The elements that will be applied in this assignment are going to encompass the upper, middle and the lower class American population (Goldsmith & Blakely, 2010). Despite the significant increase in the inequality, the political discourse in the US is in the reference does not encompass an assessment of adequate
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The cost of living has elevated. However, the majority cannot afford to sustain a happy lifestyle with the wages that they earn. The article on the Dangerous effects of mounting Inequality states, “Families keep on to making up for the falling wages to maintain a particular standard of living is by going taking themselves deeper into debt. The fact that there is the progressive increase in debt, people will not have the capacity to save for their families. The utilization of credit cards has this problem as people are permitted to borrow money continuously, but do not possess the capacity to pay it back (U.S. Department of Health and Human Services, 2010). It is imperative that income of the average family increase as the living standard go up in to reduce inequality amongst the classes in

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