The Vast Wealth Inequality Of America And The Rest Of The...

The vast wealth inequality in America (and the rest of the world) has been cited as a problem by Obama in many of his State Of The Union address, the Chairwoman of the Federal Reserve Janet Yellen, and many other liberal politicians and economists. Their talk about the problem of how the â€Å"1%† help perpetuate the wealth inequality has brought this issue to the forefront of society. In America, many citizens believe firmly in the idea of equality. The fact that some people have more money than they could ever spend, while others live in poverty on the streets conflicts with that value of equality. The most famous reaction to this rampant inequality was the Occupy Wall Street movement that started in 2011. Tens of thousands of people camped out next to Wall Street offices in New York and several other financial centers across the nation to protest the inequality between the 1% and the other 99%. This infamous movement gained media attention as the vocal protesters want ed to make it known that the wealth divide is unacceptable and politicians must rectify the situation. One important policy tool the United States has implemented to combat wealth inequality is a progressive tax. This means that people with more income are taxed at a higher rate than those with lower income. However this tax system has many loopholes in the United States, and the wealthiest individuals are routinely able to avoid being taxed at a higher rate by distributing their wealth in bank accountsShow MoreRelatedJane Jacobs ´ Theory of Development1064 Words   |  4 Pages Today we are concerned with the development of wealth inequality and the serious outcomes that may come about because of this huge impact on the majority of the population of the United States, the 99%. According to Jane Jacobs’ theory of development, â€Å"Development is differentiation emerging from generality.† (Jacobs 16). In other words, Jacobs’s concept of development basically starts off as simple air made out of animate or inanimate subjectRead MoreTexas Is The Best Job Producing State1622 Words   |  7 Pagesa net gain of over 300,000. The numbers and stories of Texas growth sounds promising and is very understanding why so many would want to move here but is it all true? It’s time to look at all of the facts and numbers, to see what jobs, income, and wealth in Texas are really like. According to Cal Jillson, author of Lone Star Tarnished, Texas being known as the best job producing state is caused from the ever growing population, exceeding the population growth of the national rate, in Texas. In 1940Read MoreKarl Marx And The Global Economic Crisis969 Words   |  4 Pageshis most â€Å"popular† titles was â€Å"Humanist† among the rest, because it tied all of his titles together. Marx was an idealist, he wanted to make everything simple and equal for everyone. If Karl Marx came back alive today and observed our functioning government and economy, he would find that we are/ will continue to fall as a nation, if we continue to live a capitalist system, because of our federal budgeting, our current debt, wealth/income inequality, labor unions and other factors. Marx got to liveRead MoreThe American Dream Must Have Been A Dream After All Essay1678 Words   |  7 PagesAvenue, on the Upper East Side of Manhattan, is one of the wealthiest neighborhoods in all of New York City, home to the ultra rich, the top tier of the American upper class, the 1% (Park Avenue). Those who reside in Park Avenue not only have vast amounts of wealth, but an immense amount of influence that has turned the tables in their favor. But, if you go a couple of miles North of Park Avenue and cross the Harlem river, you arrive at the other side of Park Avenue or otherwise known as the Bronx, oneRead MoreEssay on Income Equality in the United States? Think Again899 Words   |  4 Pagesthe United States ranks against other developed nations when it comes to income inequality? Most people think we are up in the top 5 after all we are the richest nation on the planet right? Now what would you say if I told you that America is dead last; Furthermore, that the top 400 ear ners in America have more wealth then 150 million of the poorest combined. The United States ranks 64th in the world on income inequality (i.e., 63 nations are more equal than the U.S.)(Rogow 15). Although there areRead MoreInequality Has Increased Over The Last Decades1632 Words   |  7 PagesThere is data that anyone can Google which shows that inequality has increased over the last decades. The concentration of wealth is becoming denser on a very tiny parcel of the population and it seems there are no signs it will ever reverse. Taking a historical perspective, the increase in U.S. income inequality in recent decades is strikingly similar to the increase that occurred in the 1920s. In both cases there was a boom in the financial sector, poor people borrowed a lot, and a huge financialRead MoreBook Review of Sandal1245 Words   |  5 Pagesincluding inequality of wealth and incomes, discrimination against women and minorities, CEP pay, government bailouts of banks and public ed ucation. Politics should take moral and spiritual questions seriously and not only on issues like sexual orientation and abortion, but also broad economic and civil concerns (Sandal 262). Robert Kennedy and Martin Luther King added this moral dimension to U.S. politics in the 1960s when they criticized the Vietnam War, poverty and racial inequality and appealedRead MoreEssay on Confronting Inequality732 Words   |  3 PagesConfronting Inequality In the article â€Å"Confronting Inequality† Paul Krugman compares the new millennia to the 1970’s and has many financial stats to back his theory of income inequality. He backs up his claims with facts and figures, but also gives his own solutions to these problems. Krugman states, â€Å" The ugliness of our politics is in large part a reflection of the inequality of our income distribution.† He states that in the 1960’s was that the governments was in place to sere the best interestsRead MoreThe Decline Of The Middle Ages Essay1548 Words   |  7 Pagesleisure ushered in by the Renaissance were bitterly attacked by the Anglican clergy, labeling them as â€Å"devilish pastimes†. Leisure in America America is a nation founded through the hard work and dedication of the founding fathers. From the very beginning of the nation, America consistently push the bounds between leisure and work. Excludes big cities, America was a vast and dangerous frontier. Settlers had to defend their land and had to work to live. It was this hard work that put food on the tableRead MoreWhat Did The World Economic Downturn Of 2008-09 Boost China s Position As A World Leader?1075 Words   |  5 PagesBUSINESS ENVIROMENT Q1. To what extent did the world economic downturn of 2008-09 boost China’s position as a world leader? A1. China began its 2008, fiscal year with a continuing growth rate in double digits until the Global Financial Crisis struck the world leaving the United States and the Europe economically wounded. Though during the phase it was assumed China would be immune to the GFC, however the banks collapsing in the Europe and the America dragged China into a financial mess itself. The