Essay On Economic Inequality

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During the last thirty decades, The American Dream began to fade as the wealth of the rich began to soar while the wealth of the middle class stagnated as inflation increased. Instead of seeing a rising opportunity today, the American populace are seeing a rising inequality between the affluent and themselves. A major factor for the instability of America’s economic growth is the wealthy putting money in politician’s pockets. The rich are controlling the government to benefit their own agenda, rather than to benefit the ones that are lacking simple rights and services in all parts of the country. Although the fight towards improving the economy has been a long and arduous struggle, it is something that American citizens should and could fight …show more content…
In 1978, the typical worker earned around $48,302 while the typical 1% earned around $393,682 a year. In 2010 the typical worker earned $33,751 a year, while the typical 1% earned a whopping $1,101,089 a year (Inequality for All). If one compares the two years, one can observe that the wages of the typical worker have stagnated and decreased with inflation. The 1% only get richer and richer while the middle class get poorer and poorer. According to the film Inequality for All, the top 400 richest people in America have more wealth than the bottom 150 million Americans put together (Inequality for All). The data demonstrates who shares America’s wealth and the huge economic inequality that is present. Another important issue that ties over with economic inequality is poverty. With America redistributing wealth less than most of the other capitalist countries, it is no surprise that 15% of Americans live below the poverty line; that 15% translates to 46.2 million people. (Mahoney, “Economic Inequality in the US”). 42% percent of American children who are born into poverty will stay in poverty up to their adult life while children in Great Britain and Denmark have a percentage of 30% and 25% respectively (SOURCE). Based on the data given, it seems like the American Dream lies elsewhere; Americans just do not have enough resources and money to move up the social mobility

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