Income Inequality in America
The distribution of wealth in America has been uneven since 1970. We can see the uneven distribution by comparing one of the wealthiest man in America, Bill Gates, who makes over $50 billion, to a homeless person, who has nothing. This shows an income inequality in the U.S because there is a huge gap between rich and poor. While the unemployment rate has decreased in the U.S, the gap between rich and poor in this country has dramatically increased (“Understanding the Distribution of Wealth in America”). There are many contributions to the gap, such as different education levels among citizens and cost of living. The main reason that contributes to the income inequality between rich and poor is technological advances. Technological advance hurt the low-income class greatly but at the same time is a big gain to the higher class. Many of today’s technological advances have eliminated wide range of jobs in the industry. Today’s technology is growing rapidly through out the work force. A rapid change in technology means that there are machines that can replace human’s jobs. For most low-income workers this means unemployment. Since most of these workers had little or no education, it is very hard for them to kee
Although technological advances are hurting low-income workers, higher-class income citizens are profiting from this. Most wealthy people are either owners of businesses or are heads of companies. Nowadays, machinery has taken human labor and modernized it by doing the same jobs as human, quicker, more accurately, and it saves time and money for the company. Since these machines have become so convenient, most company has put them to use. Therefore it is a gain for companies to replace human with these machines. Indeed this gain means more money to companies; hence owners of companies become wealthier. For instance, in today society many bank’s ATM machines replaced most of tellers. The replacement of ATM machines can save banks a lot of money because banks do not have to hire as much tellers as before when ATM were not introduced yet. Therefore banks are profiting from these ATM machines and making already wealthy owners of these banks become wealthier. p up with the technological advances of today’s world. Therefore these workers are then either lay off or are replaced by machines that can do their jobs at a faster rate and a cheaper price. For example, many years ago banks nationwide needed tellers to help customers with deposits and withdrawals. A teller is considered to be a low-inc
Some topics in this essay:
Wealth America”,
EITC EITC,
Families TANF,
Bill Gates,
,
rich poor,
low-income workers,
gap rich poor,
gap rich,
atm machines,
technological advances,
technological advance,
huge gap,
huge gap rich,
providing health care,
machines replacement,
federal tax,
hurt low-income,
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Approximate Word count = 887
Approximate Pages = 4 (250 words per page double spaced)
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