Question

Explain the income inequalities in USA according to international finance?

Answer 1

Income should be distributed properly and equally. USA is a nation where there are income inequalities, there is huge gap between rich and poor. Rich people are getting richer and poor are living below poverty line. In USA, income inequality is growing.

Top 10% upper class people earn income that is equal to 47% of the total income in a year while next 40% middle class earn 40% of the total income and rest 50% lower class earn only 13% of the total income in a year.

People who earn higher income because of higher degrees and rich experience while people who earn less income because of lack of experience and resources. People who are upper class, have seen a huge rise in their income while people at bottom line have seen only 5% rise in their income.

Conclusion- There should be income equality in the USA. Government should make proper investment and provide the resources to the middle and lower class group so that they can also prove their skills and can compete with upper class group. All American should be able to compete with the international environment and economy.