The Economy In The 1900's Essay

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Economics in United States has drastically changed than early 1800’s. Government has taxed more than they ever have which led to many problems like people getting evicted because taxes were too high to pay and many people were ending up being homeless. From 2000 through 2006 American people in poverty has increased 15% .One-quarter of American workers make less than $10 per hour with a annual income less than $20,614. While the average American are struggling to provide for their family while the rich people are getting richer. Big corporate and well known companies profit increased 13 percent per year and the CEO are making about $7.08 million, 356 time than it’s average employee pay which is about $19,906 according to a article “ Income …show more content…

An average American is struggling while the rich people are getting richer. The wealth owned by the top 0.1 percent has increased by 22 percent in 2012 but in 1970 wealth owned by the top 0.1 percent was only 7 percent. The top 0.1 percent includes about 100,000 families with total money of more than $20 million in 2012. The unequal distribution money was all connected to the Great Depression that took place in 1929 to 1939. During 1920’s also known as “Roaring Twenties” people had more ideas and new invention due to industrial revolution and discovery of electricity that led to many new invention that people wanted and bought. The top 0.1 of population earned more what the bottom 42% people earned which led to unequal distribution of the money. Economics Inequality has increased since 1970’s due to many factors. Families who were already rich before in 1900’s their children just inherited the money. This case mostly applied to white families because back in in the day racism played a big factor for getting jobs. Another reason is that the top 25 percent are well paid government workers, politician, entrepreneurs, or have a really good investment in stocks. In United States, people favors rich people over poor so the rich people have more opportunities and a better future than a poor and that’s the reason why economics inequality has increased over

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