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Essay On Income Inequality In The United States

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Income Inequality in the United States The inequality of wealth and income, as well as the gap between the rich and poor, has been a factor of the public for a long while. For many years, back to the great depression, the gap has continued to grow. What is causing it to grow? One theory includes the decreasing value of the real United States minimum wage and limited job opportunities for people without a college degree. It is not yet clear whether income inequality affects the larger economy by dampening consumer spending and overall demand. Upon research and chronological thinking, there are different causations and effects to this gap we are experiencing in the United States. With regards to the inequality of income lies a hidden question of why it is occurring. Hypothesis 1: Educational Development. It has been a recurring trend in the United States for many years that college is the answer. After all, the more schooling you get, the more you are to be paid during your career. David Autor, a Massachusetts Institute of Technology Economics instructor stated, "about two-thirds of the overall …show more content…
What are the consequences of this issue? Hypothesis 2: Minimum Wage Rate. While it is necessary to point out that those who are better skilled deserve a higher wage rate, it can be dually noted that those who have minimum skills should be making minimum wage. Some believe the minimum wage rate should be higher because it is not capable of being lived on. It's not supposed to be! The minimum wage rate is for minimum skilled people, such as high school or college students. Cashiering at County Market for $8.25 is not a career. Regardless, the minimum wage rate is not possible to be lived on for working class people with families. The raising of the minimum wage could, (I firmly say "could") present a success, except the extra money to pay the minimum skilled employees would come from the taxpayers. Ultimately causing myself to bring home less

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