Income inequality has been a growing issue within the U.S. for decades. People are becoming increasingly richer while the poor somehow becomes poorer. People are starting to see polarization and communities are becoming increasingly divided. Many would think if this was an ongoing issue, then why is this widening gap continuing to increase? First, it is important to understand what economic inequality means; economic inequality is defined as the difference in wealth split between groups within society. This ongoing issue...
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On May 7-9, 2018, UCLA staged a vigorous three-day strike. For a long time, not only UCLA, but also the entire UC system (UC system). More than 20,000 of the lowest-level employees (not professors, but meager labor) have been protesting, the financially fascinating University of California is actually on pay so embarrassing. Their 'humble' status is the cornerstone of keeping the University of California's huge machine functioning. They include chefs, repairers, cleaners, porters, drivers, health care workers, and more. If...
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Income inequality not only puts us in harm, but affects our physical and mental well-being. With that being, it is important to know the correct ways of distributing the wealth among people. Income Inequality has affected citizens in the United States ever since the American Dream had come into existence. The American Dream is the concept of having the ability to work hard, support a family, buy a home, have an investment for retirement and be able to send their...
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Discussion of inequalities has long been at the forefront of economic and political debate due to the concerns regarding the widening gap between the rich and the poor. Income inequality describes the extent to which income from revenue streams is distributed unevenly amongst the national population. Statistics from the Organization for Economic Cooperation & Development (OECD) depict the United Kingdom (UK) has one of the highest levels of income inequality in the world, with quite a large differential between the...
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Income inequality is a major issue in the United States. We often hear how people cannot get basic things such as healthcare or put food on a plate 3 times a day. These are dire conditions for many people that are under the poverty line. These are basic living needs that many people in the upper-middle-class don’t need to worry about. The people in poverty are not able to afford healthcare resulting in them living with untreated diseases that end...
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We have all heard the phrase of income inequality in our lives. But few of us actually thought about it or even consider thinking about it. Before diving into solutions, what is causing this problem in the first place is essential because without knowing the issues of what causing this problem in the first place and looking for solution will lead us to nothing. There are several reasons why some people are paid millions while some barely earn minimum wage....
2 Pages
860 Words
According to the Federal Reserve Bank, the average black family holds less than 15% of the wealth of the average white family. While white families have median and mean net worths of $171,000 and $933,700, a black families’ median and mean wealth is $17,600 and $138,200. Hispanic families also earn substantially less, with a median and mean net worth of $20,700 and $191,200, respectively. A clear racial wage gap exists in the United States. This paper explores the extent to...
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Leibbrandt and Shipp break down the source, cause and solution to the income disparity in South Africa. Their findings tackle how the bridge between the rich and poor, gender and racial inequalities, equalization workers’ wages and salaries, stability of the middle class and the division caused by the need for some form of tertiary education. This essay will explore a more circumstantial point of view towards their points. The most unmistakable way to combat income inequality in South Africa is...
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Almost everywhere you go you can see homeless people off to the side of the streets hunkered down in their little shelter. The United States government’s economic plan, income inequality, is at its worst because about a quarter of American workers make less than the federal minimum wage which is less than $10 an hour, and you see them almost every day as your cashier, fast food worker, etc. (Amadeo, 2019). Most of these workers “receive no health insurance, sick...
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Within every population, there is a discongruity as to how much a citizen will earn inside of their economy. They are experiencing income inequality. You may be asking yourself, what is income inequality, exactly? “Income inequality is a phrase that is used in reference to the uneven distribution of individual or household income among a given population” (Schiller, pg. 40). In order for income inequality to exist, there must be a source of income, more specifically, several sources. “These sources...
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If I had to choose one of the leading causes of death in the country it would be cancer. In 2016, cancer had the second-largest death toll, killing 598,038 people (Zuber, 2019). One of the health disparities being the leading cause of death is that breast cancer tends to affect more black women at a faster rate than it does white women ('Cancer Disparities', 2018). Another health disparity that is the leading cause of death is that individuals with low...
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How would you feel if you were one of the 800 million people who went to bed starving each and every night? At this very moment, countless people are forced to bear the pain of poverty and starvation, through no fault of their own, while millions of individuals in developed-countries binge on excessive amounts of food. These same insatiable people waste enormous amounts of money and resources to maintain their exorbitant and disgustingly luxurious lifestyles. When five cents may seem...
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In the United States (US), the household wealth of a median white family in 2019 was $147,000, while the median black family owns $3,600 – just over 2% of what the median white family owns (Collins, Asante-Muhammad, Hoxie, & Terry, 2019). The wealth gap between whites and blacks not only suggests that there is an inequality of outcomes, but also an inequality of opportunities. The economic opportunities provided by wealth range from security against disruptions in income to the ability...
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Inequality, in its myriad of social and economic forms, is a persisting issue in Latin American society. As of 2014, Latin America was found to be the most economically unequal region in the world: just 10% of the richest Latin Americans controlled 71% of the region’s wealth (Ibarra, 2014). When wealth is concentrated in the hands of the few, often so is power. It is argued that, for many Latin American nations, this is partially due to political systems being...
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It is known and obvious that there is an education gap and inequality between schools in lower income cities versus schools in higher income cities. Students who do not have the resources or money to attend a college will likely drop out of high school instead of achieving their goals but students who do have all the resources and will go onto college. This is inequality within education and it is unfair because all students deserve to have all the...
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This essay will discuss the health inequality income and its impact on an individual’s physical and mental health. I will go into discuss stresses due to poverty and underprovided areas negative impact on the body and mind, as well as the lack of adequate health care for poorer communities. Definitions and common causes will be discussed, and examples will be provided. This essay will then go on to describe a policy that aims to address the impact of health inequalities...
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Before I start my essay, I would like to introduce some abbreviations and special proper noun that appears in my essay. The first one is OECD. OECD is the abbreviation of the Organization for Economic Co-operation and Development. It is an intergovernmental economic organization with 36 member countries, promoting economic growth and world trade. The second one is the Gini coefficient, which stands for the inequality level, for example, the level of income. The Gini coefficient of zero is expressed...
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