The topic of the wealth gap is an interesting one to me. The wealth gap is better defined as wealth inequality (Inequality.org). This would be the unequal distribution of assets within the community. In the United States we have the widest differentiation between rich and poor than any other developed nation (Inequality.org). Let’s think about what that means. Basically this is saying that in the United States there is a significant jump between rich people assets and poor people assets. Before I looked into this topic for this assignment I thought that income inequality and wealth inequality were the same thing. Turns out I am very wrong. The income gap in this country is like arguing that doctors make more money than police man or how owners of businesses make so much more than their workers.
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Saying that I own 10 houses, 5 yachts, 7 Lamborghinis would put me at the top of the gap. “Income is the amount of money you earn from your work or your investments. But wealth is the amount of stuff you own: your house, your car, savings, retirement accounts, etc. The great thing about wealth is that it's self-perpetuating” (Ingraham, Washington post). I cannot say that I know much about wealth considering I live at home and only own my cell phone and a few other collectibles. I am not exactly one to have a formative opinion but I do see the world around me and how hard it is for less fortunate people. They have little assets and as a result cannot get loans or even get a start onto financial things. It is sad to think that there are so many less fortunate when rich people have houses that could shelter a small street full of families. That being said I don’t see the wealth gap being the issue here I see the income gap being the
Saying that I own 10 houses, 5 yachts, 7 Lamborghinis would put me at the top of the gap. “Income is the amount of money you earn from your work or your investments. But wealth is the amount of stuff you own: your house, your car, savings, retirement accounts, etc. The great thing about wealth is that it's self-perpetuating” (Ingraham, Washington post). I cannot say that I know much about wealth considering I live at home and only own my cell phone and a few other collectibles. I am not exactly one to have a formative opinion but I do see the world around me and how hard it is for less fortunate people. They have little assets and as a result cannot get loans or even get a start onto financial things. It is sad to think that there are so many less fortunate when rich people have houses that could shelter a small street full of families. That being said I don’t see the wealth gap being the issue here I see the income gap being the