Social stratification is an unfortunate reality in today’s world; billions of people suffer in poverty while a small percentages lives lavishly because they hold the majority of the world’s wealth. When people are asked to think of extreme examples of income disparity, many reference developing countries like Chile, India, or the Philippines. Although they are correct, people often overlook income disparity in the world’s developed nations. The United States is globally notorious for its high rates of child poverty, homelessness, and inequality. However, many people do not realize that there is another country with equally alarming rates of income disparity and poverty: Israel.
Israel is a …show more content…
According to CNN Money, the richest ten percent of the Israeli population makes fifteen times as much per year than the poorest ten percent. Israel was only second to the United States, a nation where the richest ten percent have an income sixteen and a half times greater than the poorest ten percent. The income gap is not only alarming due to its severity, but also because of its rapid growth. Since the 1980’s, the disparity has more than doubled; thirty years ago, the richest Israelis made sevenfold what the poorest made, yet today they make fifteen times as much. According to The Street, the wealthiest ten percent of Israelis make 67.3% of the country’s overall income. Haaretz, Israel’s oldest daily newspaper, confirms these statements and brings up another interesting fact: Israel was ranked by the Organization for Economic Co-operation and Development as the worst developed nation in terms of inequality and poverty. Wealth inequality is another issue where Israel falls behind. Like the other 18 nations in the OECD, the top ten percent of Israelis also hold more than half of the overall wealth, while the poorest forty percent of citizens hold less than five percent. Altogether, these different sources show that income inequality is a major issue for