Income Inequality in the United States
by bpeddar on February 1, 2016 - 10:35pm
A) The topic of this paper is the income inequality gap among population in the United States. This paper will be both comparative and analytical. It will examine the causes of income inequality and compare the gap with another country whose wealth is more evenly shared among its citizens. Finally, this essay will question how the gap can be minimized and how another country’s income is more evenly distributed.
The inequality of wealth in the United States is an important social issue contributing to high poverty rates in in many states. It is one of the main causes to preventing many Americans from achieving the “American Dream” or economic and psychological happiness.
As a result of the income inequality in the United States, Americans have been struggling with staggering poverty rates due to many factors such as unemployment, crime, high cost of living, etc. In the past few decades, the gap has grown as the rich have been becoming wealthier much faster than the poor (“The Growing Income Gap,” 2006, p. 1). Moreover, psychology plays a big role in this economic problem. Americans are struggling to make ends meet due to a constricted job market and high population; just a few factors contributing to the many citizens dealing with depression (Mossakowski, 2009, p. 1826-1832). Thirdly, income inequality is linked with poor health in the workforce (Rosenstock & Williams, 2015, 616-621). With the poor already struggling to find a job to shorten the wealth gap between themselves and the rich, they are having trouble holding on to those jobs due to poor health.
· What does the income gap mean for the long run? Is it leading to a darker or bright future? (Economics)
· How does mental well-being of Americans contribute to the aspect of the poor not becoming as rich as the already-wealthy? (Psychology, Politics)
· Are the rich themselves a factor in the huge inequality gap? CEOs, Marketing Managers, and many high positions in companies using behavioural economics and other theories to manipulate the poor into spending more and more, thus preventing their economic growth? (Economics, Politics)
C) The inequality of wealth among Americans in the United States will be looked at a group level (poor, middle-class and rich). It will also be looked at through communities by focusing on different states and the variance among them. Thirdly, the government will a group as they have the power to affect this social issue.
Mossakowski, K. N., PhD. (2009). The Influence of Past Unemployment Duration on Symptoms of Depression Among Young Women and Men in the United States. American Journal of Public Health, 99(10), 1826-32.
The Growing Income Gap. Multinational Monitor, 27(1), 4.
Williams, J. A. R., & Rosenstock, L. (2015). Squeezing Blood From a Stone: How Income Inequality Affects the Health of the American Workforce. American Journal of Public Health, 105(4), 616-621.