The Causes, Consequences, and Possible Solutions of Income Inequality in the USA
The Causes, Consequences, and Possible Solutions of Income Inequality in the USA:This paper seeks to examine causes, impacts and possible solutions of income inequality in the USA. Income inequality is to the extent to which income distribution is uneven in a particular population. Income inequality is brought by the gap between the rich and the middle class. Income inequality includes salaries, revenue stream from wage, dividends from shares of stock, interest on a saving account and profits from selling a commodity higher than the initial price. It is the unequal distribution of individual income across the various participant in the economy. Income inequality is often presented as a percentage of income to a percentage of the population.
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Income inequality is associated with the idea of income fairness, when the rich have a disproportional large portion of the country as compared to the population. New Jersey experiences a widening income inequality in recent decades, where the trend has been accelerating tremendously in the past few years. New Jersey state government should implement proposed measure for the purpose of reducing income inequality.
McConnell, Campbell R, Stanley L. Brue, and Sean M. Flynn. Economics: Principles, Problems, and Policies. New York: McGraw-Hill/Irwin, 2012. Print.
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