Wealth Disparity in America

 

The article honors the Holy Spirit on His request for an essay showing Wealth Disparity in America, and you ought to interpret the post in a gospel perspective. The reader must derive his ethical conclusions, realizing that charity without justice is imperfect in the kingdom of God.

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The following graph places the financial data in perspective.

Graph by Lane Kenworthy

The graphs alert us to the U.S. economy’s unequally dramatic growth, which may hinder future economic growth, and economic, social and political stabilities.

The wealth of the bottom 80% of the population was about 15%.

The wealth of the top 20% of the population was about 85%.

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The wealth of the top 1% of the population was about 34.6%.

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The wealth of the bottom 80% of the population was 12.8%

The wealth of the top 20% of the population was 87.2%

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The wealth of the top 1% of the population was 35.6%.

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The wealth gap widened consistently from 2007 to 2009.

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A month after launching his long-shot bid for the White House, Bernie Sanders, a 73-year-old senator from Vermont, appeared in Madison, WI, before perhaps the largest gathering for any candidate to that point in the 2016 campaign.

At one point during his hour long speech on July 1, 2015, Sanders said:

“The issue of wealth and income inequality, to my mind, is the great moral issue of our time. It is the great economic issue of our time and it is the great political issue of our time.”

“Let me be as clear as I can be: There is something profoundly wrong when today, the top one-tenth of 1 percent owns almost as much wealth as the bottom 90 percent.”

A study done for the National Bureau of Economic Research, a nonpartisan organization in Cambridge, MA using 2012 wealth distribution in America validates Sander’s claims – the top 0.1 percent and the bottom 90 percent of U.S. households own virtually the same share of all the nation’s wealth.

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