Robert Fabian

May 8, 2014
Daily Sundial
Income inequality between the rich and poor
Since the departure of the George W. Bush administration, there been an economic gap between the
rich and the poor. As the rich get richer, the poor struggle economically.
Should people be concern about the economic gap widening and the effects it brings to society?
Income inequality can bring negative affects to people who are not rich. In the early twentieth century,
The US had an economic gap between the rich and the poor. At that time, the rich made the most
income. The working class people were being paid low wages.
When banks started to gamble with peoples money, this resulted to an economic crash leading to the
Great Depression. The rich did not feel the effects of the 1929 market crash. The Great Depression
widened the wealth gap between the rich and the poor.
In 2008, the great recession devastated the economy and many people lost their jobs. Currently people
still are struggling economically to maintain their living standard.
Lousine Kasparian, A CSUN student said for 6 years hes been struggling paying his college tuition fees
and his family makes less than $19,000 a year.
If people continue to make fewer wages and be unemployed, how can our government tell us our
economy is good? It isnt. Kasparian said.

I can agree with him, the recession had major impact on people who were not rich. However the
recession did not have major impact on the rich because they are not struggling economically.
Jeffry Henderson, a CSUN student said his father makes $500,000 a year.
For 35 years, my dad has been making a lot of money and we were not impacted from the 2008
recession. Said Henderson
Since the Reaganomics policies were implemented, the middle class family has been experiencing their
income wages decrease. At the same time, the rich has had their income wages increase. As of the
today, the rich still earn more wages and continue to live a luxurious lifestyle.
By far, the US ranks the worst income inequality within the most develop countries. In Western Europe
and in Canada, people have higher chance escaping from poverty and live a middle class family. It is
difficult to escape poverty in the US since most jobs pay their employees low wages. There are no
federal bills encouraging the increase minimum wages.
The politicians in the US continue to cut taxes on the rich and corporations. This issue has created social
groups like Occupy Wall Street. They protest about how the 1 percent has all the wealth and everyone
else struggle economically.
I agree with the Occupy Movement when they argue about the income inequality that exists in the US.
Its amazing the rich people like the Koch Brothers have more than $60 billion and most Americans are
not millionaires or billionaires.
In conducted interviews, Former US President Jimmy Carter claimed todays middle class family lives in
the same conditions the poor used to live during his presidential years.

People should be concern about the economic gap between the rich and the poor because each decade
it keeps worsening. Income inequality prevents people who are not rich in attending colleges.
In other countries where there is income inequality gap, it effects the local population who are not rich.
In Mexico, there has been an increase of income inequality affecting many non rich people. In Mexico,
most people struggle economically while the rich like Carlos Slim make huge wages.
How is income inequality supposed to benefit people, it doesnt. It only increases poverty and social
problems. The income inequality in Mexico has created a social class were either people are rich or
poor.
According to Gallup poll, 67 percent of Americans are dissatisfied about wealth distribution. Most
Democratic supporters and Independents share concerns about the wealth distribution affecting people
who are not rich.
When politician serve the rich, this could damage their reputation. Most people believe the Republican
Party support the rich by forming policies benefiting rich people. This notion idea resulted to Mitt
Romney losing the presidential election in 2012. Voters were more interested electing a candidate who
would serve non rich people.
People have the power to reduce income inequality by voting in election for policies that would benefit
them economically. They can also inform lawmakers to create financial policies increasing minimum
wages.
The Problem of Income inequality will not affect the rich; they will not be experiencing economic
struggle during recession. However, income inequality can affect people who are not rich and increase
poverty.