Income Inequality And Wealth Diverty

Income inequality’s dictionary definition is an event in which income is distributed in an uneven manner amongst a population. Income inequality is a large problem in the United States. But the U.S. has the tools to fix this issue; it just needs to be addressed correctly. Currently an issue in the U.S. is the great wealth divide. A wealth divide is a barrier between the people seen as “poor” or less financially stable and the people seen as “rich” or those who have a better grasp on wealth and financial stability. Income inequality and wealth divides go hand in hand because the root cause of wealth divides is income inequality. Income inequality causes wealth divides because of many different factors such as overall wealth and financial stability of the people between the people.
Wealth divides are a very important issue and deserve global attention because they are currently happening all over the world, and they are an ongoing problem involving everyone globally. An example of a current issue revolving around income inequality is is the great wealth divide in Chelsea, New York. There is a very large wealth divide …show more content…
But the root cause of wealth divides is income inequality. This is the case because wealth divides are essentially a divide between people with different financial stability (the “rich” and the “poor”). According to the dictionary income inequality is the dispersion of income in an uneven manner amongst the people. Income inequality creates wealth divides by making the economic market uneven amongst the people. According to the president of the United States, Barack Obama: “the combined trends of increased inequality and decreasing mobility pose a fundamental threat to the American Dream” (Barack Obama). Wealth divides have a very negative impact on the