The American Dream

First, many the Statesns believe that despite some stinting discriminations, America is a middle-class society and most have the federal agency to live comfortably (Mantsios 333). However, as Gregory Mantsios points out, there are long different in the economic status of Americans (334).

There are coarse differences in the economic status of American citizens. A kempt proportion of the U.S. population occupies opposite ends of the economic spectrum. Sixty per centum of the American population holds less than 4 percent of the nations wealth. date the real income of the top 1 percent of U.S. families skyrocketed by 89 percent during the economic growth period from 1977 to 1995, the income of the middle ordinal of the population actually declined by 13 percent during that aforementioned(prenominal) period. This led one prominent economist to describe economic growth as a spectator sport for the bulk of American families. (Mantsios 334)

The level of inequality is sometimes difficult to shroud fully with dollar figures and percentages. The well-known economist Paul Samuelson helped his students visualised the distribution of income by asking them to picture an income pyramid make of childrens blocks, with each layer of blocks representing $1000.



It showed that the distribution of income is heavily skewed; the upper-income families seize on the high share of the national income, and the remaining income is distributed among the middle-income and low-income families.

According to the Fed, average inflation-adjusted family incomes overlook 2.3 percent between 2001 and 2004, to $70,700. The median family income rose slightly, to $43,200, and the big difference between the median and average reflects how skewed the income distribution is. amidst 2001 and 2004, it became even more skewed, with the rich acquire richer and poor getting poorer (Barbara Ehrenreich).

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