Income inequality has been a big issue in the United States for more than two decades now, not only that it is still an ongoing issue in today’s society. Income inequality, also known as economic inequality is the unequal distribution of household or individual income across various participants in an economy. Income inequality is usually always associated with the idea of income “fairness”. In addition, studies show that economic inequality has had a negative impact on the standards of living for everyone and how everyone functions in society. Income inequality is not just about the inability of some to afford the finer things in life, but more so of having the same opportunity.
In the article, “Stuck in the Middle: Curbing Income Inequality with the better bargain plan”, it depicts the roles that cost of college and student loan debt play in perpetuating income inequality. This article was originally titled after former president, Barack Obama made an announcement to implement a plan to make school more affordable, particularly for middle class families. The basic principles of the Better Bargain Plan, if implemented correctly, would help to curb income inequality by offering incentives for colleges to become more efficient, thereby reducing operating costs which …show more content…
Waldman stated, “While rich and poor alike lost financial ground during the Great Recession of 2008, higher earners have regained their footing, while the average Joe (or Josephine) lag behind. From 2009-2014, the incomes of the top 1 per cent grew by 27.1 per cent, while the income of the bottom 99 per cent grew by only 4.3 per cent. Essentially, the top 1 per cent captured 58 per cent of the income gains in the five years post-2008 when the economy was stabilizing” ( Page
In the article, “Stuck in the Middle: Curbing Income Inequality with the better bargain plan”, it depicts the roles that cost of college and student loan debt play in perpetuating income inequality. This article was originally titled after former president, Barack Obama made an announcement to implement a plan to make school more affordable, particularly for middle class families. The basic principles of the Better Bargain Plan, if implemented correctly, would help to curb income inequality by offering incentives for colleges to become more efficient, thereby reducing operating costs which …show more content…
Waldman stated, “While rich and poor alike lost financial ground during the Great Recession of 2008, higher earners have regained their footing, while the average Joe (or Josephine) lag behind. From 2009-2014, the incomes of the top 1 per cent grew by 27.1 per cent, while the income of the bottom 99 per cent grew by only 4.3 per cent. Essentially, the top 1 per cent captured 58 per cent of the income gains in the five years post-2008 when the economy was stabilizing” ( Page