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Wealth Inequality In America

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Is it still possible to carry out the original American Dream? The one where a poor kid living in complete poverty can strike it rich in America with a vision, some hard work, and a whole lot of determination. Up until the years within the 1980’s, this dream was certainly one that was realistic. However, the gap in wealth inequality that has been growing since around that time seems to be shutting down hope. The ladder that stretches from the lower class to the upper class is getting longer and more arduous to climb. Opportunities that lead to success are limited the further down one would go into the lower class. Motivation is diminished because of the slighter chance of becoming satisfyingly successful. Because of this, there needs to be a way to narrow the gap between rich and poor. Wealth redistribution poses as a possible effective solution to fix the exceedingly large gap in wealth inequality.
There is plenty of evidence to show that the wealth inequality gap in the United States is exceedingly high. As shown in Figure 1 (Wealth Inequality in America 2012), Americans are aware of the wide gap, and even conclude that the gap should be narrower and wealth should be more evenly distributed. However, the chart on the top shows the reality of wealth distribution. It is remarkably skewed, and exceptionally different from the popular vision of the distribution chart, not …show more content…
In December of 2013, President Obama gave a speech regarding economic mobility. Many problems that may hinder the mobility of the economy were addressed, including the technological advancements that eliminate certain jobs and the ability for companies to ship jobs out of the United States. These changes resulted in fewer benefits, lower wages, and fewer jobs. The economy that was once content with a relatively even wealth distribution became intensely unequal and insecure. According to President

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