Friday, February 10, 2012
Income Inequality
This article focuses on the issue of income inequality in the United States. Income inequality in the U.S. is now greater than it has been since the 1920s. The article talks about this issue and mentions that as of recently there has been a change. The article says that now, "The rich, as a group, are no longer getting richer. Over the last two years, they have become poorer. And many may not return to their old levels of wealth and income anytime soon."
The article finally raises a question I want to direct at the class, "will harder times for the rich ultimately benefit the middle class and the poor, given that the huge recent increase in top incomes coincided with slow income growth for almost every other group?" Also, another question I would like to ask is do you actually believe the richer are no longer getting richer, and or do you think this trend will last?
http://topics.nytimes.com/top/reference/timestopics/subjects/i/income/income_inequality/index.html
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I still think the rich are still getting richer because the income gap is still getting larger. I think that this will be a hard trend to change.
ReplyDeleteIt will be a very difficult trend to change. Especially because the government is not doing much to change it, but they really don't want it to change. They make a lot of their money off of the rich.
ReplyDeleteI think it will be a hard trend to change because everything has to be fair. If we keep that in mind the rich will just continue to get richer. Nothing will change.
ReplyDeleteI agree that this is a very hard thing to change. I'm not really sure what the best way of getting rid of the gap is in a capitalistic economy. I think should think about what we would feel about this issue if we were the super rich before we get too hasty about it.
ReplyDeleteIn order to decrease this spread, I think the focus should be on reducing the size of the lower class rather than getting the rich poorer. Breaking economic inequality that result with social inequality should be one of the first targets because the gap in the accademic quality and resources are too big between upper class neighborhoods and lower class neighborhoods. Being "behind" fro elementary school does not result with promissing future, neither does it reduce the size of the lower class.
ReplyDeleteI believe this is a temporary set back. They may not currently be at the same levels of wealth they once were at but they will return.
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