Wealth Inequality in America

     The biggest flaw in our capitalist economy is the fact that there is already a basis of inequality in our country. Theoretically, capitalism provides an equal opportunity for those who are willing to work for it. However, the playing field in American society is so far from level. The crookedness brought on by generations of systemic racism and discrimination has caused minorities to be put at a natural disadvantage. Race is not the only factor in wealth inequality, yet is the most potent, and in the most dire need of help. Ideas like affirmative action, in the sense of college admissions, have attempted to provide some equity to minorities. However, to get to the root of the problem, economic policies are the only way to diminish the economic gap. 

    Wealth inequality is not necessarily a racial issue. While it often targets minorities who are handed less opportunities, to fix the economic disparity, it must be looked at from a broader scope. If we can fight the core of wealth inequality, a fresh slate will be created for the true growth of capitalism to proceed. 

    Just to give you a sense of how real the problem is, here is a cold hard fact: The three richest men in America (Elon Musk, Bill Gates, Jeff Bezos) hold combined fortunes of around $475 billion, which is just about equivalent to the total wealth of the poorest half of Americans.  

    Most policies around wealth inequality stem from the idea of redistributing money. Yet, this has been proven to be ineffective and only negates the system of capitalism that our economy depends on. A more effective route would be to focus on policy areas such as "work programs" that can provide job outreach for those on the lower end of the wealth gap. We have not seen any previous benefits from these programs yet because they have not been constructed or implemented well. If policy makers focused on perfecting these, instead of dialing in on redistributing wealth, we could see the wealth gap start to tighten a bit.