Respond to these statements (you agree or disagree, why?) Response should be more than five-six sentences. 1. I think the claim that the US has one of the worst income inequalities compared to other countries is true. The Gini record measures the income inequality between high income levels to low income levels which has shown an increase in inflation people in the top brackets. Trump's approach to income inequality could definitely have something to do with it because workers tax got cut, and higher paid works started seeing more benefits. Overall, the U.S. has one of the worst income inequality rates.

2. Income inequality could definitely be detrimental to a growing economy. Impacts of the inequality include lower social merchandise, lower monetary development, and less opportunity for low income families to send their kids to school. This could effect the human capital rate which will then impact financial development. Overall, we'd need to create certain policies that help equate the income distribution to eliminate the inequality. This will lead to a huge economic growth because it will allow more people to have certain opportunities they don't have now.

3. I think there should be something done between the rich and poor, however, I also believe it isn't fully up to the government. I think having some sort of policy that helps create less of a divide between the two could be helpful, but I also think having different level paying jobs is super important. I think lowering the income gap will help with a lot of economic policies including helping restaurants and shops do better in certain areas. I also think it will help alleviate outliers for both groups.

4. I don't think it's fair to tax the wealthy more to balance out the income gap. Different parts of society are increasing their costs for food, clothes, housing, etc. I just saw a report that a salary of 300k for someone in New York or San Fransisco is equivalent to 100k somewhere else. So, I think a better way to approach reaching more of an equal ground would be to focus on helping lower income people. This could involve taxing them less or raising their hourly pay to fit society's needs.

5. I don't think there is a clear solution in what to do to fix the inequality. I think there are things that can be implemented like raising minimum wage to match society's standards. I don't think raising tax for wealthy people is the solution. But I do think finding ways to make living standards, grocery costs, and other necessities cheaper would be the best way to approach the income gap.