Every American dreams of finding a job that pays well, to build a comfortable life for their families. Some succeed in their quest for a better life, but unfortunately, many do not have the same result. In our society, a good portion of the population is forced to hold the base of our country in place while hardly being redeemed for their time and effort, and thus the problem of income inequality emerges.
There is no question that there is a disparity between the haves and the have-nots. There is a gap between the rich and the poor. The adjectives used to describe economic classification are upper, middle, and lower class. We know that a person’s earnings depend on supply and demand for that person’s labor. This paper will examine the income …show more content…
The poverty rate is the percentage of the population whose family income falls below an absolute level called the poverty line. In 2013, the typical household had a net worth of $81,400, with the poverty line at $9,300 (Pew Research). Poverty affects all groups within the population, albeit not equally. Poverty is directly related to race, gender, age, education, and family composition. Blacks and Hispanics are about three times more likely to live in poverty than whites. Children are more likely than average to be members of poor families, and the elderly are less likely than average to be poor. Astoundingly, families headed by a female adult, without a spouse present are about five times as likely to live in poverty as a family headed by a married couple …show more content…
The continuous impoverishment and inequality has become a main issue in American politics. Both the Republicans and Democrats agree that there is income inequality. However, they disagree on how to solve the problem. According to Huffington Post “Nearly three quarters of Americans, including majorities in both parties, support raising the minimum wage to $10.10 an hour. Sixty-three percent support a one-year extension of unemployment benefits, although Democrats are nearly twice as likely as Republicans to back that plan … Ninety percent of Democrats, but just 45 percent of Republicans, think the government should work to reduce income inequality”. It is important to note that despite the ideological differences of the Republicans, there is a big number who support government intervention regarding income inequality. It is evident that appropriate measures should be taken to balance wealth distribution since there is public support. The first reaction to income inequality came from the Occupy Wall Street (OWS) movement. OWS is a grass roots movement that organized independently and stated that “This is a leaderless movement without an official set of demands. There are no projected outcomes, no bottom lines and no talking heads. In the Occupy movement, We are all leaders” (Washington Post). The movement protested against
There is no question that there is a disparity between the haves and the have-nots. There is a gap between the rich and the poor. The adjectives used to describe economic classification are upper, middle, and lower class. We know that a person’s earnings depend on supply and demand for that person’s labor. This paper will examine the income …show more content…
The poverty rate is the percentage of the population whose family income falls below an absolute level called the poverty line. In 2013, the typical household had a net worth of $81,400, with the poverty line at $9,300 (Pew Research). Poverty affects all groups within the population, albeit not equally. Poverty is directly related to race, gender, age, education, and family composition. Blacks and Hispanics are about three times more likely to live in poverty than whites. Children are more likely than average to be members of poor families, and the elderly are less likely than average to be poor. Astoundingly, families headed by a female adult, without a spouse present are about five times as likely to live in poverty as a family headed by a married couple …show more content…
The continuous impoverishment and inequality has become a main issue in American politics. Both the Republicans and Democrats agree that there is income inequality. However, they disagree on how to solve the problem. According to Huffington Post “Nearly three quarters of Americans, including majorities in both parties, support raising the minimum wage to $10.10 an hour. Sixty-three percent support a one-year extension of unemployment benefits, although Democrats are nearly twice as likely as Republicans to back that plan … Ninety percent of Democrats, but just 45 percent of Republicans, think the government should work to reduce income inequality”. It is important to note that despite the ideological differences of the Republicans, there is a big number who support government intervention regarding income inequality. It is evident that appropriate measures should be taken to balance wealth distribution since there is public support. The first reaction to income inequality came from the Occupy Wall Street (OWS) movement. OWS is a grass roots movement that organized independently and stated that “This is a leaderless movement without an official set of demands. There are no projected outcomes, no bottom lines and no talking heads. In the Occupy movement, We are all leaders” (Washington Post). The movement protested against