The Income and Wealth Inequality of America
As a capitalist nation, the United State of America is facing a serious problem, which is the inequality of wealth and income. In pace with the growth of the economy, the rich people are getting richer and the poor people are getting poorer. The gap between the rich and poor is widening unprecedentedly fast. Why is that happening? Most of the rich people believe the strategy of trickle down economic. When their corporations earn money, and they can create more job opportunities for the lower class people. However, the goal of trickle down has never existed. The wine stayed on the top cup. As Nicholas Fitz expressed in the article “Economic Inequality: It’s Far Worse Than You Think” People have no idea how worse is the gap between the rich people and the poor people.
In the article, “Economically Inequality: It’s Far Worse Than You Think”, Nicholas shows a comparison between the belief, reality, and ideal. He referred to a paper that has written by Michael Norton and Dan Ariely, “Building a Better America-One Wealth Quintile at a Time” to back up his data. The data shows a group of peoples had been tested about their knowledge to the percentage of wealth, “The average American believes that …show more content…
This inequality gap is widening every second. As Nicholas Fitz wrote. “It is far worse than we think” (Fitz 1). Most American still think it is not that worse and they still have a lot of opportunities to escape from the poor. In Nicholas’s article, the data and contents are perfectly shown how impossible is to reach the rich level. It is a time for the people to wake up to learn and act to shrink the inequality and to achieve the goal “At the core of the American Dream is the belief that anyone who works hard can move up economically regardless of his or her social circumstances.” (Fitz 3). The American Dream is for everyone, but we have to solve the inequality
As a capitalist nation, the United State of America is facing a serious problem, which is the inequality of wealth and income. In pace with the growth of the economy, the rich people are getting richer and the poor people are getting poorer. The gap between the rich and poor is widening unprecedentedly fast. Why is that happening? Most of the rich people believe the strategy of trickle down economic. When their corporations earn money, and they can create more job opportunities for the lower class people. However, the goal of trickle down has never existed. The wine stayed on the top cup. As Nicholas Fitz expressed in the article “Economic Inequality: It’s Far Worse Than You Think” People have no idea how worse is the gap between the rich people and the poor people.
In the article, “Economically Inequality: It’s Far Worse Than You Think”, Nicholas shows a comparison between the belief, reality, and ideal. He referred to a paper that has written by Michael Norton and Dan Ariely, “Building a Better America-One Wealth Quintile at a Time” to back up his data. The data shows a group of peoples had been tested about their knowledge to the percentage of wealth, “The average American believes that …show more content…
This inequality gap is widening every second. As Nicholas Fitz wrote. “It is far worse than we think” (Fitz 1). Most American still think it is not that worse and they still have a lot of opportunities to escape from the poor. In Nicholas’s article, the data and contents are perfectly shown how impossible is to reach the rich level. It is a time for the people to wake up to learn and act to shrink the inequality and to achieve the goal “At the core of the American Dream is the belief that anyone who works hard can move up economically regardless of his or her social circumstances.” (Fitz 3). The American Dream is for everyone, but we have to solve the inequality