America has such a significant difference between people when it comes to wealth, or a individuals net worth and their ability to purchase anything they want. The imbalance has to do with many factors like gender, careers, race, debt, and the economy itself. 
America has more income inequality than any other developed country and the gap between the rich and everybody else is significant. According to Bernie Sanders, “The reality is that since the mid-1980’s there has been an enormous transfer of wealth from the middle class and the poor to the wealthiest people in this country” (Income and Wealth). He has a plan on his website that can reduce income and wealth inequality: Demand that large corporations and the rich pay their share in taxes; increase minimum wage; making tuition free at public colleges and universities; and guaranteeing health care… (Income and Wealth). While its not that easy, its something of a solution.
According to USA Today, in 2015 “the budget deficit will fall slightly this year to $468 billion” (Davis). How are we that far in debt? School costs, military, and unemployment throughout is surging America’s debt sky high and seems to be only getting higher. “By 2025, CBO projects a $1.1 trillion annual deficit” (Davis).
Racial wealth gap is also to be noted because while the United States is becoming more racially diverse, there are still unequal times of wealth and income. According to an article by Laura Shin, “[t]he typical black household now has just 6% of the wealth of the typical white household” (Shin). It may seem to be an economic problem for those households, but it’s going to continue to worsen the U.S. politically and economically.
The race and gender wage gap are real for many individual’s, but does it have to do with the wealth disparity that is occurring? Absolutely, but it is “more difficult to measure because wealth is typically a household-level characteristic, often with people of different genders in the same household” (Jaggar). It also states that a married household makes more than a non-married one. Of course, when wealth and marriages mix, that’s when divorces happen.
Women’s Initiative helps lower level income women of color primarily with achieving the economic security through low start-up costs and training with work experience and bank accounts (Jaggar). The study showed that is worked through “a very effective way to movie low income women and families toward lasting economic self-sufficiency (Jaggar). While this is a good initiative to help women of color get to where they need to be, financially, this doesn’t solve everything economically.
There are many factors that go into being a nation of inequality of wealth and the significant difference that we have, and we seem to not get anywhere in front of the issue. The poor will always be poor is what I’ve found through research. The rich will always be rich. Through debt, racial and gender gaps, we can only see this trend continue to push the disparity even further.
Davis, Susan. “Federal Deficit Falling to Lowest in Obama Presidency.” USA Today. N.p., 26 Jan. 2015. Web. <https://www.usatoday.com/story/news/politics/2015/01/26/cbo-report-budget/22353147/>.
“On the Issues: Income and Wealth Inequality.” Bernie Sanders. N.p., n.d. Web. 28 June 2018. <https://berniesanders.com/issues/income-and-wealth-inequality/>.
Jaggar, Karuna. “The Race and Gender Wealth Gap.” Air Pollution in Bayview Hunters Point | Reimagine! N.p., n.d. Web. 28 June 2018. <http://www.reimaginerpe.org/node/2815>.
Shin, Laura. “The Racial Wealth Gap: Why A Typical White Household Has 16 Times The Wealth Of A Black One.” Forbes. Forbes Magazine, 26 Mar. 2015. Web. 28 June 2018. <https://www.forbes.com/consent/?toURL=https://www.forbes.com/sites/laurashin/2015/03/26/the-racial-wealth-gap-why-a-typical-white-household-has-16-times-the-wealth-of-a-black-one/#1662e6f21f45>.
