Asked by Kriss Derass on Apr 26, 2024
Verified
What are some reasons for the rising income inequality in America?
Income Inequality
The uneven distribution of income within a population, leading to a gap between the wealthy and the poor.
- Acknowledge the disparities in poverty rates across diverse demographic segments.
- Acquire knowledge about the fiscal practices of Americans belonging to the middle class.
Verified Answer
KG
Kaitlyn GoorskyMay 01, 2024
Final Answer :
Many jobs have been offshored to countries that pay low wages.Minimum wages have been too low to lift many families out of poverty.Unemployment and the number of low wage jobs have increased.The top ten percent of income groups have enjoyed gains in wages and salaries while the wages and salaries of the remaining 90 percent have not kept up with inflation.There has been a decline in unionized workers.The growth of imports produced by unskilled laborers in other countries has decreased the need for similar labor in the U.S.The average pay of a CEO has increased dramatically compared to that of the average worker.
Learning Objectives
- Acknowledge the disparities in poverty rates across diverse demographic segments.
- Acquire knowledge about the fiscal practices of Americans belonging to the middle class.