Income Inequality In The 21st Century

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The modern day is dominated by technology and innovation, yet, income inequality is one of the most severe challenges people face today. The issue of inequality and the injustices that arise from inequality plague modern society. Poverty and many social issues that are associated with being impoverished inhibit society as a whole, in addition to being damaging to the individuals experiencing it. The current degree of economic inequality is unjust because distribution between classes is extremely unequal, resulting in poverty and other social injustices that could be prevented. The biggest and most disturbing problem with the current economic system, is unequal distribution of wealth. The issue is that money and assets are not distributed evenly, …show more content…

Comedian and actor Chris Rock (who’s worth $70 million) once was quoting “[i]f poor people knew how rich rich people are, there would be riots in the street,” demonstrating just how uneducated the majority is about income inequality. Although people do realize that inequality exists, many do not understand to what extent. When asked what the perceived income inequality looked like, many described a system that was far closer to the ideal than the actual. The general consensus is that equality should be the model, yet the current system is far from …show more content…

As living conditions, support systems, crime rates, etc. continue to worsen at the current pace for lower classes, society will begin to see drastic changes in it’s functionality. There is much debate over how the current issue of income inequality can be solved. Some popular suggestions are to set limits on how much a single person or company can make, or to increase taxes substantially for those who make exponentially more money than the average to impoverished worker. In order for society as a whole to be at its most productive and prosperous, the gap between inequality needs to be decreased significantly. While inconsistency may increase incentive, the current system is crippling to those who fall into the lowest

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