Income Gap Between The Upper Class And The Lower Class

In recent years the way wealth is distributed in the United States has sharply increased, causing an income gap between the upper class and the lower class. The country is becoming a banana republic in which most of the wealth is owned by the top 1%. This small percentage of the population is mainly composed of the entrepreneurs, businessmen, and lawyers. Although the United States is a democracy, in recent years, it has become a plutocracy nation. The wealth inequality plays a major role in this and if this trend between the upper class and the lower class continues it could cause many problems. First of all, having a country run by only a relatively small amount of people could be a concern because the power is in the hands of people at†¦show more content†¦The top 1% grew their incomes by 86.1% since 1933; the top 5%, or 15 million individuals, have seen their incomes rise while everyone else is flat to down†. The wealthy are becoming even wealthier while the bottom 80% haven’t seen any changes in the amount of income they make. Their wages have been in a stagnant position. While those at the top have doubled their incomes. They even have the opportunity to generate more income by investing in other businesses to increase their profits. While those who are at the bottom are minimum wage workers making just enough to support their families. On the hand, the upper-class wealth has more than doubled and the lower class are still financially unstable since the Great Recession. The income inequality plays a major role in turning a nation into a plutocracy. Due to these wealth distributions, there is no doubt that the United States is a plutocratic nation run by the wealthy. On the other hand, income equality has many harmful effects on those who are at the bottom. Since there is a vast gap between the upper class and the lower class it could cause many health related problems. 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