Research on the Causes and Optimization Strategies of the Wealth Divide in the United States

The gap between the rich and the poor refers to the difference in the distribution of wealth between individuals and families. Wealth inequality is a serious problem in the United States, as the billionaires in the US have become even richer, while the lower earners are experiencing fewer economic opportunities and mobility. The factors that raise the wealth gap include billionaires and corporate power are intensifying inequality; slavery, immigration problems, and Japanese internment camps are increasing the wealth gap, and slavery plays a vital role. Furthermore, the richest people have the power to cut their tax rates to an extremely low level, and their children are accumulating more and more wealth. To solve the wealth inequality, there are several possible methods. Firstly, the taxes should be increased permanently for the richest 1 percent and the biggest corporations. Secondly, the governments require both a progressive taxation scheme and a revolutionary national investment in African American families and communities on the richest people in the US. Lastly, it can also be beneficial to raise the Earned Income Tax Credit (EITC) and the Child Tax Credit (CTC) to narrow the wealth gap caused by taxation inequality.