Distribution of wealth

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    think that the inequality of income and wealth is a social problem and it needs to be addressed. In the Wealth Inequality in America video we watched, it was stated that “the top 1% of America has 40% of all the nation’s wealth”. When the top 1% of the richest people in America have 40% of the total wealth of the nation, that is a problem. This is way beyond the point of the rich and wealth just living a luxurious lifestyle when they have 40% of the total wealth of the nation. I don’t like…

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    In his State of the Union Address, President Obama discussed an array of topics from diplomacy in Iran, relations with Cuba and the fight against ISIS. However; the president’s address seemed to have centered on the topic of income inequality and social mobility. With the struggle of economic and social equivalency between the rich, middle class and the poor being incredibly drastic from one another, there is no surprise that the topic of social inequalities was a sticking point to the…

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    I have always questioned the main factors that contribute to our society. Studying social policy will allow me to break down aspects such as the economics and politics that impact the society we all live in today. I have a keen interest in this course because I have a strong belief social factors have an impact on young people like myself. I am always trying to find out how my everyday surroundings link with theories. I recently traveled to Ghana which is a small country on the west coast of…

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    getting richer while the poor barely get any increase in their incomes. CNN cited that the top 1% of Americans make up 20% of the country’s wealth, and the lower 50% of the country does not even constitute for 12% of America’s wealth. (Long 1) The difference between the two income classes is huge and it shows that mostly wealthy Americans constitute the country’s wealth. Moreover, the Boston Globe reported recently of a landlord who was charging $1,150 a month for rent and then increased it to…

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    The taxation system so far had been based on a fixed tax on 10th and 15th's which produced an unequal system where the poor were asked to pay the same amount, if not more, as the wealthy. Subsequently this resulted in the poor struggling to pay their tax without fearing starvation and the wealthy paying without a problem, while building their personal fortune. The divide between the classes was continuously worsened. Wolsey changed this by introducing a new tax revenue based on the taxpayers…

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    inequality should be a concern for the United States because it can be detrimental. According to the article by Huffington Post, “…in the U.S., 75.4% of all wealth is owned by the richest 10% of the people." This is more extreme than any other of the top 20 developed countries. Consider that most of the developed world has the top 10% own 60% of the wealth. The United States is actually quite close to the corrupt underdeveloped countries, according to the same article. We don’t even want high…

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    debate over the passage of the new Republican tax plan, attention is drawn yet again to wealth inequality in America. Regardless of the most efficacious solution to balancing the American budget, members of all socioeconomic classes are under scrutiny. Tensions are as high now as ever with the upper one percent owning nearly forty percent of the nation’s wealth, and the bottom fifth owning zero or negative wealth. In times like these, the barbarity of human nature is revealed, and prejudices…

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    Spirit Level Inequality

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    Inequality is the existence of unequal opportunities and rewards for different social positions or statuses within a group or society. In a country with a high level of inequality there are higher levels of health and social problems. Also no one is better off in a country that has a high level of inequality. A rich person in a more equal society is better off than one in a more unequal society. Richard Wilkinson and Kate Pickett's book "The Spirit Level" does a great job at pointing out how…

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    Essay On Wage Gap

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    the top 1% of wealthy people own 35% of the nation's wealth, while the bottom 80% own just 11%, and 65% of residents in the New York metro area see this discrepancy as very problematic . Although built upon democracy, the United State's open market capitalism creates the ability for individuals to amass exorbitant amounts of money. This money can be made through various means, although a large chunk of it is inherited wealth. Extreme wealth will always be in a fortunate position, since the 1% is…

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    Inherited wealth is almost as unequally distributed as overall wealth in Canada. Inheritances are predominantly distributed to those who already have university degrees and are making $100 thousand annually. This means that inheritance is a major cause of income and wealth inequality as it further benefits those who are well off with no effect on those in lower income brackets. As seen in Exhibit 1, those who receive inheritance are more likely to be the individuals who were raised in a…

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