Macroeconomics Research Project Income Inequality

Macroeconomics Research Project: Income Inequality Income Inequality means the uneven income is distributed among individuals in a company, groups in a population, or countries in the world. â€Å"One-fourth of American employees make less than $10 per hour, which is the income that below the Federal poverty level† (Amadeo). Those are the people like cashier, waiters, or fast food clerks. There is a huge gap between rich people and poor people. The rich people are getting richer while the poor people are getting poorer. This is a serious economic challenge that the United States has been facing for a long time period. The income inequality in the United States has increased during the past several decades. The economic growth has a big impact on income inequality. The economy of United States prospered during the years from the end of World War II to the 1970s. The total incomes of USA grew rapidly at that time. There was not a big gap of income between upper-class earners and middle- and lower-class earners. Everyone got not much difference of income. However, in the beginning of 1970, economic growth slowed down. The income growth of the middle- and lower-class earners became to grow slowly while the upper-class earners continued to grow strongly. Therefore, the income gap became wider and wider after that. According to The New York Times, the top 10 percent earners took home more than half of the total income earned by United States in 2012. It was the highest level recordedShow MoreRelatedEssay on The Impact of the Remittances in Latin America1400 Words   |  6 Pagesenvironment; due to the underdevelopment and inequality of the region. Because they relative importance, trends in migration and the impact of remittances in population of Latin America are the main topics that we will analyze in this research focusing on reduction of poverty and inequality. 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