Income Inequality

Income Inequality In our Society

Neal, Ryan W. "One Chart About Income Inequality That Will Make Your Blood Boil." Mic. Mic Network Inc., 25 Sept. 2014. Web. 22 Feb. 2017. <https://mic.com/articles/99798/one-chart-about-income-inequality-that-will-make-your-blood-boil#.iOSPoANwj>.

THANKS FOR WATCHING!

Reich, Robert. "The U.S Ranks 4th in Income Inequality." Inequality for All. 5ifty&5ifty, 24 Oct. 2013. Web. 22 Feb. 2017. <http://inequalityforall.com/fact-4/>.

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Priester, Marc, and Aaron Mendelson. "Income Inequality." Inequality.org. Inequality.org, 2015. Web. 22 Feb. 2017. <http://inequality.org/income-inequality/>.

Politizane. "Wealth Inequality in America." YouTube. YouTube, 20 Nov. 2012. Web. 22 Feb. 2017.

Leung, May. "The Causes of Economic Inequality." Sevenpillarsinstitute.org. N.p., 21 Jan. 2015. Web. 22 Feb. 2017. <http://sevenpillarsinstitute.org/case-studies/causes-economic-inequality>.

MICHAEL, IZZY, HANNAH AND JORDEN ARE AWESOME!!!!

What the public thinks

Concluding Statements

Labor Market Wage

Statistics

Izzy Farrow, Jordan Cormier,

Hannah Corr & Michael Sprengel

According to Inequality for All, "The U.S has had the fourth highest degree of wealth inequality in the world."

All in all, Income Inequality is an economic problem that is affecting the way people live in America. This, in turn, causes America to divide among the rich and poor.

<http://inequalityforall.com/fact-4/>.

You can see that as you start moving forward through time the chart becomes unbalanced, the income of the bottom 90% starts to decrease

The final factor in Income Inequality (in our opinion) is Wage is determined by the Labor Market. The Seven Pillars Institute says, "wage for the job that requires the skill, is low if a large number of workers (high supply) are willing and able to offer that skill but only a few employers need it (low demand)...when there is low supply but high demand for a skill, the wage for a job requiring the skill goes up." This ultimately, gives people with less skill (bottom 90%) less money. This divides our nation.

<https://mic.com/articles/99798/one-chart-about-income-inequality-that-will-make-your-blood-boil#.iOSPoANwj>.

Growth in Technology

<http://sevenpillarsinstitute.org/case-studies/causes-economic-inequality>.

Causes

One cause we think is causing income Inequality is the growth in technology. Seven Pillars explains,"For unskilled workers, computers and machinery perform a lot of tasks these workers used to do." Due to this, many of the workers (bottom 90%) are losing jobs because the work they do is now in the hands of a machine. This in our opinion is the biggest contributor to Income Inequality.

(I) Wages are determined by labor market

(II) Education effects wage

<http://sevenpillarsinstitute.org/case-studies/causes-economic-inequality>.

(III) Growth in technology widens income gap

There could be an infinite number of reasons to what caused income inequality to grow and impact our nation. However, a site called the Seven Pillars Institute gave five main causes of Income Inequality.

(IV) Gender does matter

(V) Personal factors

<http://sevenpillarsinstitute.org/case-studies/causes-economic-inequality>.

Questions

What Does this Mean?

Who is the U.S trailing to get the 4th-highest degree of income inequality?

Income Inequality is when the amount of salary is distributed unevenly among the population. This causes a gap to form between the rich (top 10%) and the poor (bottom 90%). According to Inequality.org "...America’s top 10 percent now average[s] nearly nine times as much income as the bottom 90 percent."

How many times more income does the top 10% average than the bottom 90%?

<http://inequality.org/income-inequality/>.

Video

What do you think is the biggest cause of income inequality and why?

Gender

What is the most recent inequality that has divided America?

Another factor in Income inequality is Gender. Throughout American history Gender has been a a huge factor when it comes to jobs. The Seven Pillars Institute explains, "additionally, among people who never marry or have children, women make more than men...[however]the median full-time salary for women is 77 percent of that of men." This shows that gender is a contributor to Income Inequality and it can go both ways (male<female)(female<male)

Thesis

Income Inequality has affected so many under privileged families and we believe that the inequality needs to stop because it is unfair that the largest group of people have to share the least amount money.

INCOME

<http://sevenpillarsinstitute.org/case-studies/causes-economic-inequality>.