The gap in income-earning leads to an economic inequality
Income disparity is a global challenge, and it ranges from income distribution to the amount of wealth an individual or a group own. The gap in income-earning leads to an economic inequality where the allocation of resources differs from one person or place to another. Income disparity widens the gap between the rich and the poor hence results to the existence of various economic classes: the wealthy, middle class, and the poor (Yamamoto p 101). The main problem that leads to income disparity in the United States of America is Education. There are various levels of education, and at each level, the kind of job and monthly income largely depends on it.
Education in the United States is an essential tool for acquiring wealth and job opportunities. The majority of employers prefer offering a job to a well-educated person compared to the less educated one (Tinbergen p 261). The United States Government has increased the expenditure on educational expansion to make sure everyone in the country can access affordable education without a struggle, thereby reducing the disparity gaps on incomes in the employment sector (THE DISTRIBUTION OH HOUSEHOLD INCOME). However, the majority of children in the United States are not able to access and afford university education (Tinbergen p 263). This leads to them not being able to compete with other university graduates for better and well-paid jobs leading to an income gap between them. Failure to acquire higher education makes individuals settle for less paying jobs that cannot maintain the kind of lifestyle they dream of.
The quality of education depends mainly on the kind of schools that an individual can afford. Individuals with surplus human capital can attend quality schools with well-established infrastructure (Noble p 773). This shows thatthe niche between the rich and the poor will widen as a result of the rich children acquiring better education, making them aggressive in the job market. On the one hand, poor households will have hardships in educating their children; thus, most of them will end up seeking for casual jobs that are poorly paid (Noble p 773). On the other hand, wealthy households will afford to take their children to some of the well-performing schools, and that equips them to face the employment world with a lot of courage and confidence.
There are different levels of education, starting from grade 1 or the way to the university. A master’s degree holder has a better chance of getting a well-paying job compared to a diploma graduate (Suhrcke). This means there will be an income disparity between the two individuals. Besides, a Ph.D. holder will be well-positioned to get a high ranked job group compared to the one having the masters. This indicates the impacts education brings on the income disparities in the United States. Well educated Americans can even work on several organizations, making them earn even more.
In conclusion, education has played a vital role in the income disparities in the United States. Every level of education gives a different kind of opportunity in the job sector. Therefore, the government should make sure that all Americans have access to cheap, affordable, and quality education to facilitate fair competition for every citizen in America. An independent body should control the salaries of all public and private workers to ensure that the gap in incomes does not widen.