About Inequality in America

As we all know the rich get richer and the poor gets poorer in America. That’s the way it seems like it has been for a long time. And the trend seems to be continuing. Although rich people took a hit in the financial crisis, the stock market has recovered strongly. Income inequality has been on the rise since the late 1970s, but the economic and financial crisis of 2008 instigated an unemployment epidemic that dramatically compounded this problem in the United States and catapulted the issue to the center of debate. There is wide agreement across the political spectrum that high inequality is contributing to undesirable circumstances such as stagnant household income, rising poverty rates, and increased borrowing and debt, though there is much less agreement on remedies. A bedrock American principle is the idea that all individuals should have the opportunity to succeed on the basis of their own effort, skill, and ingenuity. —Federal Reserve Chairman Ben Bernanke Read more: http://www.businessinsider.com/new-charts-about-inequality-2011-11?op=1#ixzz3GCxAbb8G But still once again the rich are getting richer as the poor get poorer in America. But Main Street has not: Median household income has fallen 10% since the beginning of the recession and unemployment has increased by nearly 5 percentage points. The Populist movements among Democrats and Republicans have finally put this issue in the spotlight. If you haven’t seen any charts about inequality, then prepare to have your mind blown. Here are some charts about the facts of inequality in America from 2011 and that trend has continued in 2014. Read more: http://www.businessinsider.com/new-charts-about-inequality-2011-11?op=1#ixzz3GCyHl5Zx Inequality in America provides a snapshot of the issues posed by the growing concentrations of income, focusing on the United States but drawing on international comparisons to help set the context. Here is the URL link http://www.amazon.com/Inequality-America-Trends-International-Perspectives/dp/0815724217/ref=sr_1_2?ie=UTF8&qid=1413368231&sr=8-2&keywords=inequality+in+america                                                                      of a book about inequality in America that’s featured on Amazon written by Un Dadush and Kemal Dervis. The authors examine the economic, technological, and political drivers of inequality and identify worrying trends associated with its rise. They demonstrate how specific factors have exacerbated income inequality, including technological change, international trade, changes in labor market participation, and the increasing role of the financial sector. Their clear and concise exposition makes the issues surrounding income distribution accessible to a wider public. As they write in the conclusion: “We have argued that tackling the worst effects of inequality and re-establishing a measure of equal opportunity requires increased investment in crucial public goods: first, education; second, a more progressive and simplified tax system; and third, increased international cooperation to avoid a race to the bottom. Education, tax, and other such policies are pursued by other highperforming advanced countries and can be shaped for the United States in a way that is fully consistent with an efficient and competitive American economy.” There has been inequality in America for a long time. And there is an inequality in wealth in America also. Check out this video below. Wealth Inequality in America

This superb six-minute video builds on pioneering research about American attitudes toward wealth by economists Michael Norton and Dan Ariely. Most Americans, the research shows, would like to see wealth in the United States much more equally distributed than they believe it is. But most Americans underestimate how staggeringly unequal the United States has become. Thanks to politizane on YouTube.

– See more at: http://inequality.org/wealth-inequality-america/#sthash.3Gj5tJm3.dpuf