Wealth Gap In America

503 Words3 Pages
Wealth gap is the unequal distribution of assets among the residents of the United States. Wealth the difference between the value of a family’s assets and debts. The wealth of a family is an important asset, which can be used for future borrowing. The wealth gap in the United States is at an all-time high, and has widened between groups with different demographic characteristics, such as age, race, origin, and even educational degree of a homeowner. “Some primary causes contributing to the creation and persistence of the wealth gap include Financial resources, Money allocation, Higher rate of savings and hence asset accumulation by the wealthy, Higher net rate of return to assets owned by the rich, Lower credit costs and credit constraints for the wealthy. Access to credit at lower rates enhances the level of profits and scope of investment opportunities, Inflation, Tax policy. Essentially, the wealthy possess greater financial opportunities, that allow their money to make more money and this contributes to the wealth gap”. (Rugaber, Christopher S.; Boak, Josh, January 27, 2014). Why should the wealthy only be rewarded? I feel the lower and middle class…show more content…
I think the upper class holds on to their wealth when they know it hurts the country as a whole. Greed has been the name of the upper class for a long time. The lower and middle class is slowly depleting due to the greed of the upper class. I think the government needs to tax the rich more. In addition, we can try to convince the upper class to maybe, make donations and we could redistribute the wealth to the lower and middle class Americans. If you make more you should, be taxed much different from the lower and middle class. “I am for doing good to the poor, but...I think the best way of doing good to the poor, is not making them easy in poverty, but leading or driving them out of it (Benjamin
Open Document