While surfing the web I came across an article from CNN money that talked about the worsening situation of wealth inequality in America. The gap between the "Haves" and "Have Nots" is increasing, the top 1% is making an average of $1.3 million a year while the bottom 50% of Americans have earned an average of $16,000 in pre-tax income. The American Dream is almost no more, its becoming to hard to get ahead in this economy. The top 1% take 20% of all U.S. income, the rich get richer, and the middle class and working poor's wages haven't increased. The sad reality is that because of the wealth inequality more college grads are starting off their young adult hood in debt, owing student loans. This can cause a delay in an individuals life which directly affects the economy because then that college grad cant afford to live on his or her own. Their employment plans are affected, and they might be more susceptible to take a job unrelated to their field, or they are forced to work more than one job to make ends meet. This leads many individuals to believe their educational experience is/was not worth the cost.
I am directly affected by the inequality of wealth because, the government believes my parents make to much money (Not true), therefore I barely get any financial assistance and am forced to take out +$20,000 loans per semester, just to attend school. Being an out-of-state student doesn't help my cause, but its ridiculous to think how unfair college tuition can be. Because of the high costs, I will graduate in more debt then what i started school with, essentially making it harder for me to succeed in the real world.
Looking at the graph, its hard to understand that it is hard for Americans to move up the ladder. There is no upward mobility and I think what you said is true.
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