Uneven Wealth Distribution in the United States

I am researching the uneven wealth distribution in the United States. Wealth disparities have widened greatly over time; the rich have become richer and the poor have become poorer. Wealth inequality is a growing issue in America and impacts many aspects other than just the economy, such as different demographics and politics. The following are the questions that narrowed my research:

What are the root causes of the wealth disparity in the U.S.? 

How does the unequal wealth distribution affect different population demographics in the U.S.? 

What impacts does this wealth inequality have on the future growth of the U.S.?

Wealth inequality is the uneven distribution of wealth among residents of the United States. The gap between the lower class and the upper class is continuously growing. Racial and gender disparities persist, as well as the difference between educated and uneducated individuals. The growing wealth inequality is a dangerous threat to the future of America. Democracy is at risk due to the inequality between different groups of people and poverty rises as wealth inequality rises. 

I found that wealth inequality is a very complex issue. It impacts every person in the country in different ways. These effects can be economical, political, or demographical. Because of this, there are so many different questions to ask and investigations to make. I found this topic’s complexity to be very intriguing, especially since I initially didn’t realize its importance in our country. 

Harwood, John. “5 Ways to Fight Wealth Inequality, According to Economists.” CNBC, CNBC, 19 June 2019,  www.cnbc.com/2019/06/19/5-ways-to-fight-wealth-inequality.html .

The rise of income inequality has shaken America across all spectrums. While average American citizens debate on the severity of this subject, experts believe there are ways to solve it. Economists argue that the government can increase opportunities and incomes that strengthen American capitalism. This article lists five ways the United States can fight the growing wealth gap. First, the country can bolster human capital. This can be done through improving access to health care, job training, and education (both for children and vocationally for adults). These opportunities can be made available by taxing more from the wealthier. Also, the government can raise wages and returns. The government can make employment more profitable with a higher, and more limited, minimum wage. Next, the United States could alter corporate governance. Expanding infrastructure can improve productivity and prosperity for low and high class alike. Lastly, it is important to protect intellectual property. Maintaining ownership of innovative ideas helps boost the economy in the United States. 

While it is important to understand the causes of wealth disparity in the United States, it is even more important to understand potential solutions. These solutions are just as complex and bold as the problem itself, but they are achievable. This article contributes insightful potential for the United States to succeed and improve economical inequalities. 

Horowitz, Juliana Menasce, et al. “Trends in U.S. Income and Wealth Inequality.” Pew Research Center's Social & Demographic Trends Project, 19 Jan. 2020,  www.pewsocialtrends.org/2020/01/09/trends-in-income-and-wealth-inequality/ .

This article is about the trends of wealth inequality in the United States. Primarily, the gap between lower class and high class is continuously growing. Pew Research provides trends related to this pattern of wealth disparity. First, upper income households have seen more rapid growth in income in recent decades. Also, the share held by middle income households is falling. Next, income growth has been most rapid to the top 5% of families; this means that the top of the top class is growing the fastest and the rich are getting richer faster. Overall, wealth inequality in the United States has increased in recent decades far greater than in peer countries.

The numbers of the economy are not as promising as I previously believed. This article provides insight on the variety of ways wealth inequality is shown to be increasing in the United States. It adds depth to the argument that this issue is, in fact, worsening. 

Pfeffer, Fabian T, and Robert F Schoeni. “How Wealth Inequality Shapes Our Future.” The Russell Sage Foundation Journal of the Social Sciences : RSF, U.S. National Library of Medicine, Oct. 2016,  www.ncbi.nlm.nih.gov/pmc/articles/PMC5560613/ .

This article discusses the effects of wealth inequality on all reaches of the United States. It breaks down the economic, social, regional, and demographic impacts. This is a rather new argument and researchers have found that the growing gap between the wealthiest and less wealthy has unique and widespread consequences. It also connects wealth inequality and inequality in opportunity. The growing gap between the top, middle, and low class families shapes the future of the United States, and this research shows the future is questionable. 

This source provides recent and accurate research on the argument that wealth inequality is steadily increasing in the United States. It also demonstrates the impacts it has on different components of American society, both present and future. There is great insight on how if this issue isn’t reversed, there will be many negative consequences on the future of the United States. 

Reinicke, Carmen. “US Income Inequality Continues to Grow.” CNBC, CNBC, 19 July 2018,  www.cnbc.com/2018/07/19/income-inequality-continues-to-grow-in-the-united-states.html .

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“Rising Wealth Inequality: Causes, Consequences and Potential Responses.” Poverty Solutions, poverty.umich.edu/research-projects/policy-briefs/rising-wealth-inequality-causes-consequences-and-potential-responses/.

This article focuses on the consequences of wealth inequality, why it is important, and how the United States can prevent or respond to them. Wealth inequality has long been an issue in this country, but in recent decades it has grown even more rapidly. This gap has widened along with the racial and gender wealth gap. These cause overall economic inequality and failing confidence in American politics. To solve these issues, it is important to influence policy to improve the modes of taxation. 

This source covers both the reasons for wealth inequality in the United States and how it can be prevented from worsening or resolved in the future. These potential solutions include taxing the rich more, taxing based on wealth rather than income, influencing policy change to do so. It is very useful to not only inform readers on the reasons this problem has occurred, but the ways it can be improved and solved are even more important to consider for the future of the United States.

“Wealth Inequality.” Inequality.org, inequality.org/facts/wealth-inequality/.

This article shows the gap between the rich and the poor with various graphs and statistics. It highlights how assets contribute to wealth, not just money, and displays the impact of homeownership in America. The United States exhibits wider disparities of wealth between rich and poor than any other major developed nation. The top three individuals are as wealthy as the entire bottom half of Americans. The richest five percent of Americans own two thirds of the wealth. Also, the racial wealth divide has grown in recent decades; home ownership is skewed toward white families and minority families are more likely to live on the edge of economic tragedy.

This source is helpful for understanding how the wealth inequality spans different economic and demographic backgrounds. It contributes valuable information for the investigation into how wealth inequality impacts different racial demographics. Minorities are more likely to face economic setbacks and tragedies than white Americans due to increasing wealth disparity.

“Wealth Inequality in the United States.” Wikipedia, Wikimedia Foundation, 22 Apr. 2020, en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States.

This article explains precisely what wealth inequality is, which is the unequal distribution of wealth among residents of the U.S. It also lists the statistical disparities among different races and genders, as well as the causes and effects of wealth inequality. Causes for wealth inequality in the United States include differences in income, education, labor market demand and supply, among a variety of others. These cause the wealth gap to increase between upper and lower classes, white Americans and minorities, and men and women. It also causes less confidence in democracy, which is essential to the values of the United States. To reduce wealth inequality, this article proposes taxation based on wealth. 

This source provides a variety of information on causes, effects, and solutions to the problem of wealth inequality in the United States. It covers all questions investigated in this research. I discovered that wealth inequality has widespread impacts on the whole country.

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