In order to understand Wealth Inequality we must first understand: What is Wealth ?Wealth is measured by the amount of assets of an individual/household. This can include stocks, bonds, properties, and any other financial assets,
Now what exactly is Wealth Inequality? It is the unequal distribution of wealth throughout different societal groups
On average 61% of Americans believe this is a problem. Mainly because the top 10 richest people in the US, own almost 70% of the country's total wealth.
The top 1% of the richest people own about half of that wealth, and the bottom 50% of Americans own as low as 2%.The poorest 20% have a net worth of -$6,029
However, wealth distribution is not the problem. The US was built for the wealthy to thrive from their hard work, as their businesses benefit the country in return.
Seeing wealth inequality forces Americans to work harder and motivates them to become financially free. Ultimately, redistribution of wealth programs are often costly and lowers motivation for Americans to work for their wealth, also forcing the wealthy to work for the rest of the population.