The Income And Wealth Inequality Of America Essay

1247 Words Mar 7th, 2016 null Page
The Income and Wealth Inequality of America
As a capitalist nation, the United State of America is facing a serious problem, which is the inequality of wealth and income. In pace with the growth of the economy, the rich people are getting richer and the poor people are getting poorer. The gap between the rich and poor is widening unprecedentedly fast. Why is that happening? Most of the rich people believe the strategy of trickle down economic. When their corporations earn money, and they can create more job opportunities for the lower class people. However, the goal of trickle down has never existed. The wine stayed on the top cup. As Nicholas Fitz expressed in the article “Economic Inequality: It’s Far Worse Than You Think” People have no idea how worse is the gap between the rich people and the poor people.
In the article, “Economically Inequality: It’s Far Worse Than You Think”, Nicholas shows a comparison between the belief, reality, and ideal. He referred to a paper that has written by Michael Norton and Dan Ariely, “Building a Better America-One Wealth Quintile at a Time” to back up his data. The data shows a group of peoples had been tested about their knowledge to the percentage of wealth, “The average American believes that the richest fifth own 59% of the wealth and that the bottom 40% own 9%. The reality is strikingly different. The top 20% of US households own more than 84% of the wealth, and the bottom 40% combine of a paltry of 0.3%” (Fitz 1). This shows that…

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