Assignment:
Myth of Income Inequality in US.
Although US is the largest economy in the world, some says it is one of the worst income unequal countries among the industrialized countries and Income inequality in US is not improving.
1) Does this claim have any truth in it? If so, discuss it with specific economic data.
2) Some says " In US, the upper class is doing better, the middle class is disappearing and more people are living under poverty."
If so, what is the social, economic and psychological consequence from growing income inequality?
3) Some says US government should do something to reduce the gap between the poor and the rich? Do you agree or not?
If so, is it a good idea to raise more tax from the wealthy and provide more welfare safety nets to the poor or increase a minimum wage?
choose one of this 3 questions to answer. It should be at least 5 sentences.