Hello I have this 4 different assignment it's 3 essay this the Topic:Income Inequality Comparison between the USA and China. But make 4 different essay please help me thanks

I- Paper 3 Development Sheet: Submit Here Due date: 11/28/23, 11:59 PM

II- Paper 3 Outline Due date: 11/28/23, 11:59 PM

III- Introduction and Thesis Statement for Paper 3 Due date: 11/28/23, 11:59 PM

IV- 3-Page Draft of Paper 3. Due date: 11/28/23, 11:29 PM

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Topic:Income Inequality Comparison between the USA and China

The world hasnumerousresources thatare transformabletobenefithuman beings' lives byimproving their living standards. Although there is a distribution of resources in all parts of theworld, it is unequal, thus spelling out differentcountries' wealth levels. However, a significantand troubling form of inequality is income inequality; this is a social and economic challenge(Berman et al., 2016) that has faced continual analysis and discussion intending to find solutions towards mitigating the adversities of incomeinequality (Peterson and Wesley, 2017).

Given that countries have distinct social and economic levels among their citizens, it is challenging toeliminateincome inequality. The social and economic classes are evidence of the unequal distribution of resources and wealth among citizens. It isimpossibletoattainperfect income and wealth distribution; however, it is possible to narrow the gap between the rich and poor and ensure that most citizens are above the poverty line.

Countries have currently achieved constant economic growth and development over the years, yet the problem of income inequality continues to linger, thus slowing down further efforts if achieving economic growth and development. Thispaperaims to assess the rising income inequalities in the USA and China. Both countries are economic superpowers and haveattainedmassive growth and developmentregarding their social, economic, and political tenets.

Before carrying out the comparison and analysis of these countries' income levels, it is important to understand what income inequality means. Income inequality refers to the uneven distribution of money among people in a society in the sense that the rich are the only fewer people with income and money while the poor tend to have little income for their survival, thus creating social and economic segregation.

In the USA, rising income equality has beena grave issue and has been a source of worry and concern among scholars, researchers, citizens, and elected officials (McCall et al., 2017). The Fed's current data evidenceindicatesthat the USA's wealth and the income gap have increased and even worsened by the ongoingCoronavirus (Beer, 2020). The data furtherindicatesthat the top 1% wealthiest individuals in the USA attribute to a net worth of $ 34.2 trillion, while the bottom 50% of the USA population have a net worth of $ 2.1 trillion

(Beer, 2020). This data is proof that there is severe income inequality in the USA, in the sense that the poor getpoorer,and the rich get richer. The causes of income inequality in the USAarerace and origindisparities in theUSA. The state of the economy further pushes the minority groups to the peripheries of poverty and unequal access to income-generating opportunities (Manduca, 2018).

The second cause is disparities in education levels; in the USA, access to high-quality education plays a significant role indeterminingaccess and distribution to wealth and income. Education is an investment in human capital with future returns reaped in employment, salaries, and wages (Jackson and Holzman, 2020; Wells, 2006). The third cause of rising income inequality in the USA isglobalizationthat aims at benefiting only a small percentage of citizens and edging out the other percentage of citizens in the USA. In China, recent dataindicatesthat China's income inequality level, represented by the Gini-Coefficient, is 0.465 (Textor, 2020). The number is within the warning limit of income inequality henceindicatinga relative level of income inequality. However, compared to the USA,

China has lower levels of the income distribution. The Gini-Coefficient of the USA is 0.48 points

(Duffin, 2020). Thisindicatesthat China has had effective measures that have helped fight theissue of income inequality. It has createdequallevels of access to income-generatingprograms. The labor laws and systems within the country cut across all groups of citizens, thusensuring equal income distribution.A valuable toolis needed to measure the various income distributions in countries.This tool involves calculating the Gini-Coefficient and Lorenz curve, and the line of perfectequality helps to calculate it (SathiyaandHolist, 2020). Besides, it falls within the range of 0to 1. This implies that the closer the obtained Gini-Coefficient to 1, the greater the incomeinequalitylevel (SathiyaandHolist, 2020). Upon plotting the Lorenz curve, it is notablethe Lorenz curve willindicatethe level of income inequality by the deviation of the curve fromthe line of perfect equality. The further the Lorenz curve deviates away from the line of perfectequality, the higher the level of income inequality. Gini-Coefficient is a useful method because itindicatesthat income distribution and inequality can be measured quantitatively.

The gap in income distribution can be closed by usingappropriate socialand economicstrategies. First, a country should ensureequitableaccess to educationfacilities andinvestment inhuman capital. There is a positive correlation between education levels and income generation.Fiscal policies by the government should ensure that the disadvantaged in society have access tosocial and economic resources that would help themattainhigh living standards. Such fiscalpolicies may involve increasing government expenditure on projects to uplift the poor and reduce taxes charged. Formulation of wages, salaries, and employment policies are crucial to ensure that a country's citizens have constant accessibility to employment opportunities and adequate compensation for the work done.

Income inequality is a significant social issue that has been the subject of extensive research. It refers to the disparity in the distribution of wealth and income within a society.Here isa step-by-step explanation of the issue: Definition: Income inequality is the unequal distribution of household or individual income across the various participants in an economy. It is often presented as the percentage of income related to a percentage of the population. For example, a statistic mayindicatethat 20% of a population makes 50% of the money.

Measurement: Themost usedmeasure of income inequality is the Gini coefficient, named after the Italian statistician Corrado Gini. The Gini coefficient is a number between 0 and 1, where 0 corresponds with perfect equality (everyone has the same income) and 1 corresponds with perfect inequality (one person has all the income, and everyone else has zero income).

Causes: Income inequality can be caused byseveral factors, including education level, race, gender, and economic policy. For example, individuals with a higher level of education tend to have higher incomes. Similarly, economic policies that favor the wealthy can lead to increased income inequality.

Effects:Elevated levelsof income inequality can lead tonumeroussocial and economic problems. These include increased crime rates, poor health outcomes, and reduced social mobility. It can also lead to political instability as those who feel marginalized may be more likely to engage in protest or other forms of political action.

Solutions: Addressing income inequality often involves implementing policies that promote income redistribution and equality of opportunity. This can include progressive taxation, where the wealthy are taxed at a higher rate, and increased spending on public services like education and healthcare.

Research on income inequality is ongoing, and it is a complex issue with many contributing factors. However, understanding the basics of the issue is an important first step in addressing it.

Global Perspective: Income inequality is not just a domestic issue but a global one. According to the World Bank, the global Gini coefficient was 0.63 in 2017. This high numberindicatesa significant level of global income inequality.

Role of Technology: The advent of technology has also contributed to income inequality. While technology has created many high-paying jobs, these are often inaccessible to those without the necessary skills or education. This has led to a widening income gap.

COVID-19 Impact: The COVID-19 pandemic hasexacerbatedincome inequality. Many low-wage jobs, particularly in the service sector, have been disproportionately affected by lockdowns and other restrictions. Meanwhile, many high-income individuals have been able to continue working remotely, further widening the income gap.

Future Implications: If left unchecked, income inequality could have serious implications for the future. It could lead to increased social unrest, hinder economic growth, and even contribute to the rise of populist political movements.

Importance of Research: Continued research on income inequality is crucial. By understanding the causes and effects of income inequality, policymakers can develop strategies to address this issue. This could include policies aimed at improving education access, reforming tax systems, or increasing minimum wages.

In conclusion, income inequality is a pressing social issue that requires immediate attention. Through comprehensive research and effectivepolicymaking, it is possible to reduce income inequality and create a moreequitablesociety.

Income Inequality and Poverty: Income inequality often leads to increased rates of poverty.When wealth is concentrated in the hands of a few, most of the population may struggle to meet basic needs.This can lead to a cycle of poverty that is difficult to break without intervention.

Education and Income Inequality: Education plays a significant role in income inequality. Those with higher levels of education tend to earn more, leading to a wider income gap. Improving access to quality education can help reduce income inequality.

Gender and Income Inequality: Gender is another factor that contributes to income inequality. On average, women tend to earn less than men, leading to a gender income gap. Addressing gender discrimination and promoting equal pay can help reduce this form of income inequality.

Racial and Ethnic Disparities: Racial and ethnic disparities also contribute to income inequality. In many countries, racial and ethnic minorities tend to have lower incomes. Addressing systemic racism and promoting diversity and inclusion can help reduce these disparities.

Policy Interventions: Policy interventions can play a crucial role in reducing income inequality. This can include progressive taxation, increasing the minimum wage, and implementing social safety net programs.

Role of Unions: Labor unions can also play a role in reducing income inequality by advocating for higher wages and better working conditions.

Sustainable Development Goals: Reducing income inequality is part of the United Nations' Sustainable Development Goals. Achieving this goal requires concerted efforts from governments, businesses, and civil society.

In summary, income inequality is a complex issue with many contributing factors. However, with targeted research and policy interventions, it is possible to reduce income inequality and create a moreequitablesociety.

Income inequality is a high concentration of wealth or income in the hands of a small

percentage ofthe population. It has been described as the gap between the richest people in a

country and the rest. It has many negative effects on people, businesses, economies, and homes.

Income inequality has been in the US for many years starting before The Great Depressionwentthrough today. Income inequality growth has increased rapidly and is beginning to bebig

problem in the US. We can fix it, if we all come together andthinkabout the future of the USA, a lot of things can get fixed.It isthe people against the system.

When you think about America, opportunity, wealth, and equality comes to mind. But

according to the CIA and the United Nations, the USA may not be as economically equal as you

may think. More than 70% of the countries measured have a more equal distribution of family

income than the U.S. That includes Cambodia, Russia, China, Vietnam, India, Egypt, France,

Pakistan, and over 85 other countries. In 2007, the United States hadthe fourth-highest rate of

income inequality of all countries

. The USA also had the fourth-highest rate of relative poverty, over 6% worse than the average country. (United for a Fair Economy,2019).

WhatCausing'llof this?

Technology hasa significant rolein income inequality, it is one of the main reasons a lot of people are losing their jobs. It is better for businesses to have to pay people, so they decide to get a working machine with no pay, instead of having a person do it and having to pay them, so it is better for a business to get a machine instead of paying people Massachusetts Institute of Technology professor

David Autor said that "jobs focus more on people with education than people with no experience." So, that is why many middle-class people that did not go to school are struggling the most and have fewer options. Also, trade and globalizationarea big part of income inequality. Growing trade between the United States and the rest of the world, especially China, has increased the number of imports in the U.S. economy, which has led to job loss in industries that produced these goods in the United States. Offshoring has also affected jobs and wages.Both problems lead to declining employment.

(Footnote)

You may think,howdoes this affect me and the rest of the USA? Inequality has led to a lot of negative effects on the people in the past years. For example, more people are imprisoned in an unequal society. People in more unequal societies are more likely to experience mental illness.

In 2003, 17-29% of Americans suffered from mentalillness,and Obesity is more

common in unequal societies.

Obesity rates in the United States are the highest of all OECD countries

. (United for a Fair Economy, 2019). OECD is the Organization for Economic Co-

operation and Developmentarean intergovernmental economic organization with 36members

countries. It was created to stimulate economic progress and world trade, so being the highest in

all countries, we must do something about it. One of the biggest effects in the USA is how taxes

are being worked on. Warren Buffett made a claimthat he would become famous. He said that he paid a lower tax rate than his secretary.

For the first time on record, the 400 wealthiest Americans last year paid a lower total tax rate

(than who???)", said (David Leonhardt, October 6, 2019), from The New York Times. So that means the middle class and the poor that get paid $ 80,000 or less a yearare paidmore money than people that get paid $500,000 up to the billions.There are things that must be done about income inequality in the USA. There are many solutions to this problem in the US, we just need to find a way to unite as a country. The government shouldprovidethe bottom two-fifths

access to education and employment training

. Investing in human capital is the best way to increase individual wealth and improve the labor force.

Equity in education would bring everyone up to at least a minimum standard. It would be a

better solution than increasing welfare benefits

. (Amaedo,2019). Also, Congress can raise taxes on the top fifth of the US to pay for it. Bruce Rauner once said, " For every challenge we face -unemployment, poverty, crime, income growth, income inequality, productivity, competitiveness a great education is a major component of the solution."(Rauner,2019). It should makethese changesnow so that the transition is equal and healthy for the economy overall.

Income inequality has been a big part of the United States of America. It has affected us

in many ways and change the perspective of how people look at this Country. It affects the

people and the economy in general. But all of this can have a solution, there can be better

Education, better tax pays, and more we just need to act.It is easy to say, but are

we really going to do something about it?

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