There are many reasons for the growing income inequality gap in the United States of America. Research on the current state of the income distribution shows increasing inequality of the wealthy …show more content…
For example, the poorest half of the world’s population is equivalent to the 85 richest people in the world’s wealth. Furthermore, the recession from 2007-2009 enabled America’s richest families to progress more than everyone else. There was a 31% income increase for the top 1% in the United States during the three-year recession whereas the other 99% had a less than 1% increase. This resulted 95% of the United States income gains were acquired by the richest. The richest families the richest families now possess half of all personal income whereas the lower half own only about 5%, which is unheard of since 1917 and even more than what has been seen since the 1920’s.
The distribution of income has changed throughout the course of United States. During the Gilded Age, between the 1870’s and 1900’s, there was rising inequality, which caused the progressives to want taxes imposed on the rich. In 1913, the 16th amendment of the U.S. Constitution allowed the institution of