The wealth gap in America is larger than ever in history. Income inequality is not a problem foreign to the American people. The gap between the rich and the negative has literally widened irrefutably over the past five years and indeed continues to grow to considerable proportions. It is not the presence of this imbalance that is at issue, but rather whether or not this imbalance hinders the average American's risk of upward mobility. This is a common topic in today's society because the wealth gap between the rich and poor could have dangerous consequences on our financial system if not addressed. As consumers, the lower and middle classes gaslight the upper class and are therefore a vital catalyst for the success of our economy. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get an original essay If the lower and middle classes fail because they literally no longer make enough money to survive, then the failure of higher classification will quickly be observed. Yet some leading scholars say such a drop would not be due to income inequality, because the problem no longer impacts Americans' risk of upward mobility at all. In America today, income and wealth inequality has continued to grow at a worrying and quite significant rate. Over the past, for all intents and purposes, wages paid to work have gone up and down over the course of a few years. This sometimes results in people barely having enough to get by each week or until they get paid again, somewhat contrary to popular belief. So far I've seen jobs pay less and less, even though the amount of work is significant. While the remuneration of low- and middle-wage specialists has started to recover, the wealth imbalance is still higher than ever, according to another study by the Central Bank which checks the country's funds at regular intervals. This expanded the country's current vast financial separation. Here is only one way to understand the resulting distinction. The average high-wage family (individuals who earn more than $127,600) currently has several times the abundance of the average low-wage family (individuals who earn less than $42,500), as indicated by a review of information from the Seat Exploration Center. In 2007, top performers were worth 40 times more. In 1989, the number was 28. Here's another way to understand it: the richest 1% now hold 38.6% of the country's wealth, up from 33.7% in 2007. The bottom 90% do not hold currently only 22.8% of all wealth in the country. , down from 28.5% in 2007. In 2016, the total wealth of average families improved across all wage levels - up 16% overall since 2013 - but it's those who are at the higher end of the pay scale who have done the best. The richest 10% of workers saw their family unit's total assets increase by 40% over a three-year period, as reported by the Fed. Another reason for the gap between rich and poor is that taxes favor the rich for some strange reason, contrary to popular belief. It makes no sense that this literally favors them more than others in need, which is certainly pretty important. The rich have more than enough money to spend. In this type of spending framework, the rate of.