Summary of America's 1 percent problem Essay Example | Topics and Well Written Essays - 250 words

Summary of America's 1 percent problem - Essay Example vel of inequality in the American society is evident in the income of CEOs vis-a-vis the income of the average worker which stood at a ratio of 243: 1 in 2010 (Stiglitz, 2012, 3). While the top one percent are growing richer by the day, the poor are getting poorer even as the middle class continues to shrink. The problem is so grave that the middle class and the poor are driven toward living in poverty and without a safety net. Furthermore, the level of inequality is so great that economic insecurity even among workers is a reality. While many people believe that the U.S. is a land of opportunities to the extent that poverty is foreign to it, this is not the case according to Stiglitz (2012). He notes that apart from the levels of unemployment, poverty, and economic insecurity being high in the U.S., the standard of living is, in fact, on a decline (14). While several countries including Brazil have made strides to bridge the gap of inequality, the U.S. has done nothing in to reverse the