Income Inequality and Society - 1028 Words

Income Inequality’s affect on Society Income inequality is on the rise and it is evident in most cities throughout the United States. There are individuals with six to seven figure incomes and then there are individuals whose income is just enough to get by. The middle class is not as prominent as the upper and lower class. This should be the other way around. There should not be so many cities with very wealthy neighborhoods right next door to low class, rundown neighborhoods, with little middle class households. Digging deeper, 47.6% of the money in the United States belongs to individuals that receive $98,200 or more (â€Å"Distribution of U.S. family income†, 101). The middle class should be much more noticeable with the upper and lower†¦show more content†¦Putting a band-aid on this issue would not be something that just one person could do, due to checks and balances, because if the president proposes something, chances are it will be beneficial for one s ide and worse for the other. That other side, would most likely oppose it and it would not get past congress. â€Å"Congress has cut taxes on high incomes repeatedly† Robert Lieberman stated â€Å"and has relaxed the tax treatment of capital gains and other invest income, resulting in windfall profits for the wealthiest Americans† (Lieberman). Taxes are taking away the lower class’ money and making them even poorer, while the automation of industrial jobs are making the rich even richer and taking jobs from the poor. It would be much more logical if a law was put into place restricting the automation of industrial jobs. Although not one person alone can change the income gap, there are little things that could lessen the income inequality and hereby create a larger middle class . Feeding off of this, there are various ways the income gap can be changed. Bill Ryan talks about how due to robots and outsourcing of our blue-collar jobs, there are no real middle clas s jobs anymore. He also mentions that one thing that could be done to limit this is to make some kind of law preventing the outsourcing and the use of robots in middle class jobs.Show MoreRelatedWhy Is Income Inequality an Important Issue for the Chinese Society and Its Future Economic Growth?2192 Words   |  9 PagesWhy is income inequality an important issue for the Chinese society and its future economic growth? Introduction Nowadays, China has become the second largest economy in the world. The GDP (gross domestic product) of china was growing at 9.7% per year in average since 1978, which the year of Chinese â€Å"open door† politic founded. 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