High amounts of income inequality should be a concern for the United States because it can be detrimental.
According to the article by Huffington Post, “…in the U.S., 75.4% of all wealth is owned by the richest 10% of the people." This is more extreme than any other of the top 20 developed countries. Consider that most of the developed world has the top 10% own 60% of the wealth. The United States is actually quite close to the corrupt underdeveloped countries, according to the same article.
We don’t even want high levels of income inequality. According to Bill Gates, income inequality can interfere with economic incentives. Inequalities can create monopolies, which discourage other people to create their own business. Another issue that Gates
According to the article by Huffington Post, “…in the U.S., 75.4% of all wealth is owned by the richest 10% of the people." This is more extreme than any other of the top 20 developed countries. Consider that most of the developed world has the top 10% own 60% of the wealth. The United States is actually quite close to the corrupt underdeveloped countries, according to the same article.
We don’t even want high levels of income inequality. According to Bill Gates, income inequality can interfere with economic incentives. Inequalities can create monopolies, which discourage other people to create their own business. Another issue that Gates