The wealth distribution in the United States is unequal with only a few of the top wealthy citizens experiencing mild effects of recession. The practice of progressive taxation has not succeeded in bridging the income inequality gap among Americans prior to taxation. The top echelon of the wealthy people in America pays lower proportions of their total income as opposed to individuals with few income and wealth. Income as well as wealth distribution in America is used an indicators of power. Subsequently, power wielded in the country lies in the hands of few wealthy people and not the poor majority.
Possible Opinions of Factions of American society
The most likely faction of the American society to dispute strongly the article is the few wealthy individuals presented to be within the upper class level and people falling within the section of small business, managerial and professionals. The top rich individuals in the country who also benefit from the inheritance from their families may also dispute the issues presented within the article. This is because the report presented in the article demonstrates that these people own more than 80% of wealth in America and hence control the power in the country. Â Â Â Â Â
The bottom of the table individuals, controlling approximately 15% of the wealth in America is the most likely factions of the society to embrace and support the society. These are individuals employed as wage and salary workers in the nation. They do not have influential income and wealth and cannot, therefore, control the power in the country.Â Â
Proponents of the Issues
Individuals of African American and Latino origins would support the issues presented within the article. This group of the society is the most disadvantaged people in terms of wealth and income in America. They would support the data represented because of the level of inequality within the society in a bid to have the income and wealth inequality gap bridged.Â Few of them own homes and the majority do not have homes. This trend demonstrates the rising deviation between the wealthy and the poor people in the country. Â
The unhealthy people within the society would agree with the contents of the article because they would argue that they lack resources to help them maintain their health and wellbeing. Wellbeing of the society and its people depend on the resources influential in facilitating wellbeing. Â According to Mink and O’Conno, unequal concentration and distribution of wealth and power has contributed significantly to socia-economic issues, such as poverty in the country.
Opponents of the Issues
Some of the wealthiest people in America oppose the initiative of taxing the inheritance and estate taxes, arguing that this ideology is not establish by the government, but people against the government. The opponents of the issues raised within the article assert that a few people behind the scheme to paint others as power controllers would benefit from such information.
The Republican donors are also likely to disagree with the content of the article. It is stated that a majority of the Republican resource donors are against the government are the sponsors of the ideology of taxing inheritance and estates. The wealthy Republican donors would assert that they are maliciously targeted because of their massive wealth to paint their image negatively before the society. The libertarian activists would also refute the information presented that they promote the taxation of the few wealthy individuals received inheritance income because of the financial gains they get from the wealthy Republican sponsors against the government. The CEOs in the country would disagree strongly with the report that they contribute to the growing inequality in America, and by extension poor social and economic wellbeing of citizens.
The trade unions and political parties in America would refute the notion that they control power in the country. The equality distribution of a country and the welfare spending state is controlled mainly by democratic parties and trade unions. Increased in income and wealth inequality in a country may give rise to social tension and unrest.Â Â Â Â
Summary and Conclusion
Wealth in America is unequally distributed with a few people owing almost 85% of the wealth in t he country. The workers employed on wages and salaries are the most disadvantaged. In addition, African-Americans and Latinos are also largely affected because they do not own homes. Regardless of the progressive taxation principle embraced by the government, the strategy was defeated because of the tax cuts by the rich and the decline of labor unions. These loopholes should be shielded to ensure that the policy works effectively. The few wealthy people in America control the power in the country; thus, control the majority of the country and its population. Functioning society is controlled by few wealthy people with huge resources. Â Â Â
The current distribution situation of income and wealth is not appropriate for the social and economic wellbeing of Americans. This is because the rising concentration of wealth and income in the country is among the upper class people, which would increase the inequality gap between the rich and the poor, leading to poor social and economic conditions for most people. The distribution method is appropriate but should be made more effective by sealing the tax cut loopholes that the wealthy use to beat the taxes. This should be coupled with transfer payments to minimize the inequality gap.