While there needs to be some inequality in income to drive competition, the inequality we have now is simply unhealthy. The fact is that the lower and middle class will spend more money on expansionary goods than the rich. The gap now is simply too large and if we want a healthier economy, we need to reduce it.
Income disparity is definitely a real issue. There are too many impoverished people that do not need to suffer poverty because some rich people have way more than enough funds to support themselves. If we had better heads of companies that paid better wages and paid their full corporate taxes instead of getting unnecessary breaks, there would be more funds to lift the poorest out of poverty.
For anyone who's been through poverty knows it's hard to get your foot into the wealth pool, especially when you're continually being pulled away from the pool by the means of the rich. The gap between rich and poor is ever growing, but from the past we know it's possible to be treated.
Class and income disparity is the route of almost every issue we face. It is easy to blame a nations problems on individuals, ideals, or really anything that one can find passion behind, but when we break down our problems: health, education, crime, they all lead back to wealth inequality.
Since the 1970s income inequality has grown significantly. This means the share of nation's income received by higher income households has increased. The top 1% of earners received about 20% of the income in 2013 compared to approximately 10% in the years 1950-1980. Although there are many reasons, including a widening educational gap, tax policy, and the changing economy, it is an issue that needs to be addressed.
Income disparity just means one thing... A gap. The fact that the gap is bigger now than it was 30 years ago doesn't do justice to the fact that homelessness has....... Wait for it.........Decreased in the last few years, even though the wage disparity has increased. We can't focus on the fact that America's "impoverished" live better and more comfortable lives than even the middle class of many other countries, because all we can focus on is "I'm not making as much as that guy! And I feel like I work just as hard!"
I am not saying that income disparity cannot create issues or problems, because clearly there are more than enough greedy people in the world to go around. (I'm not referring to the wealthy 1%, I am referring to the poor and entitled majority who feel they are more deserving of that wealth then the people who actually obtained it).
But, as my old boss at Wally World used to say, it's the squeaky wheel that gets the grease!