- One statistic that leaves the biggest impression is ” The top 1% of the population owns more wealthy than the bottom 90% combined.” This means just a tiny group of very rich people have more than almost everyone else put together. That shows a huge gap! Most of the people are working hard and still struggling, while a few at the top have way more than they needed. The reason why is because, the economy is set up in a way that helps the rich stay rich. Big businesses and wealthy people get tax breaks and other benefits that working people don’t get. Many people who work full time jobs still cannot make ends meet.While the rich can afford the best education, healthcare, etc., the working class often times struggle to get by.
2. Wealthy people get better education, jobs, etc., poor families can’t compete and therefore go through a cycle of poverty. The rich use their money to influence people of high status, the working class voices are sometimes never heard. People in high ranks often favor the wealthy not the majority. Huge gaps between rich and poor can cause conflicts, frustration and anger which can lead to crime or violence.
Yes, we see the effects of wealth Inequality all around us today. One example is where rent is rising higher and faster than most people’s income and as such working families can’t afford safe housing.
