Income inequities have always been around in the United States. Yet, over the past few decades the gap has grown. As seen in the pie charts you can see that since 1989 the top ten percent of income earners have grown 8% totaling a total 50% of all of the income in the United states. In 2016 the bottom 50% of income earners made between $0-53,000, the middle 50%-90% made between $53,000-$176,000, and the top ten percent make over $176,000 people. The inequities are clear. What the chart doesn’t show is what percent of the wealth that the 1% have. According to Smart Asset, a personal finance website, the 1% makes nearly $600,000 a year, which shows that there is are huge inequalities among the top 10%.
https://www.stlouisfed.org/open-vault/2019/august/wealth-inequality-in-america-facts-figures
https://www.cnbc.com/amp/2022/01/24/how-much-money-you-have-to-earn-to-be-in-the-top-1percent-in-every-us-state.html
Adding in what the top 1% earns is really important to note the contrast between that and what an average American income worker makes. I wonder how we can try to even out this income distribution.
What are your suggestions to reduce the income inequalities? Any policies or governmental help to those in need?
The income distributions as indicated by the pie charts really helps to show just how large the disparity is between different groups of earners. I wonder how we can fix this, as the way the income is distributed now is so unequal.
The massive wealth inequality that is prevalent in the US is a massive issue. How can we hope to grow as a society and economy if a few people have all the money and power.
I found it very interesting how you emphasize right off the bat that the gap has grown over the years. Many would expect to find the opposite effect.
thank you for bringing insight into this topic about inequality. I love how you mention the different effort from different parties in addressing this inequality. still income distribution is a severe problem and need more structural solution to address.