Wealth Inequality In America - 1078 Words

James Madison once stated inequality of the rich and poor predicament to be â€Å"evil† and believed that the government should avoid an â€Å"immoderate, and especially unmerited, accumulation of riches† (Johnston, 2016). As one of the founding fathers of our nation, James Madison had a concern about the separation between the rich and the poor. He felt the government should do what it could to avoid the separation, which one can infer that he meant for the government to tax the rich by a greater percentage, thus reducing the financial burden on the poor. A rift has always been present between the rich and the poor throughout history. Depending upon the job, the working class may or may not make enough to support a family. At this point, the†¦show more content†¦In my opinion, some may have the opportunity to better their lives and some may have the opportunity, but choose not to use their abilities to improve their situations. Then there are others who are never given an opportunity and are therefore stuck in that situation. This would then be the decision of the individual on how to prepare and manage the â€Å"cards† in which they are dealt. However, there are some professions and lifestyles that are simply underpaid and not given that chance. I believe that working individuals can make enough to live and support a family, it just depends on how they handle their money and utilize their skills to support it. For instance, throughout American history, immigrants have come to our shores. Most arrived poor and destitute. Some chose to remain that way, and some chose to rise above and became bankers, lawyers, professional people throughout the world. Some, however, chose to be ditch diggers â€Å"manual laborers† and settled with that. Although many citizens typically make enough to live and support a family, there are still cases where individuals lack the financial support needed to administer aid to their household. A few factors that hinder members of the workforce are job availability, child care necessities, transportation, and educational requirements. For example, there are people that want to work, but after expenses are paid for transportation, childcare, etc. there is very little leftShow MoreRelatedEssay on wealth inequality in america1518 Words   |  7 Pagesallocation of wealth within a society? The resulting issue becomes income inequality. Where a small portion of the population, own the majority of the wealth and the majority of the population own only a fraction of what the rich own. This prominent issue has always been the subject of social tension from even before the French Revolution and spawns numerous other social issues in a society. In the more recent Occupy Movement, beginning in 2011, protesters used income inequality as a motive.Read MoreAmerica s Income And Wealth Inequality987 Words   |  4 PagesToday in America, income and wealth inequality has continued t o grow at an unsettling pace. The rich continue to get richer, while the number of people categorized as lower class grows exponentially. As Joseph Stiglitz has explained, many theories that are seen as strongly Republican, such as the trickle-down effect, has caused the rich to take money from the poor, and as a result the lower class grows and the middle class disintegrates. 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It uses charts to explain inRead MoreWealth Inequality Of The United States1283 Words   |  6 Pages Wealth Inequality According to Inequality.org, â€Å"We equate wealth with ‘net worth,’ the sum total of your assets minus liabilities. Assets can include everything from an owned personal residence and cash in savings accounts to investments in stocks/bonds, real estate, and retirement accounts. Liabilities cover what a household owes: a car loan, credit card balance, student loan, mortgage, or any other bill yet to be paid. In the United States, wealth inequality runs even more pronounced than incomeRead MoreThe American Tax Code : How Our Government s The Wealthy1448 Words   |  6 Pagesin tax benefits in 2013 (CBO). America does not treat all sources of earnings equally. Currently, the American tax code’s approach to income tax progressivity is focused on economic models in which labor is the only source of income. 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