What causes income inequality in America today Essay

What causes income inequality in America today - Essay Example globalisation has led to the creation of global companies which operate in different parts of the world. The benefit of operating global companies is that these companies do not only sell goods and operate in their host nation, they even sell their goods and services in foreign nations. Even those individuals who work in these global organizations are paid more than what the middle-class and the lower class of the society is paid. According to The Economist, globalization has benefited global companies such as the one owned by Bill Gates and due to this the entrepreneur now owns a corporation that is worth $50 billion (The Economist, 2006). The same article states that people working in global companies such as Goldman Sachs overhear an average salary of $500,000 (The Economist, 2006). These statistics show that companies operating at the global level and their employees earn huge amount of money and this has led to th e unequal distribution of wealthiness between these companies and companies that are restricted to one certain region.The middle class of the society has witnessed a decline in their income levels due increase in the chip of jobs that have been outsourced and because of the failure to obtain employment by the children belonging to this class. According to Nytimes people belonging to the middle class perceive that college education can avail them earn high but during the period of 2009 the number of unemployed college graduates was 9.2% (Nytimes, 2010). According to The Economist a huge number of white collar jobs such as accounting positions are being outsourced (The Economist, 2006). These findings clearly show that the college graduates who belong to the middleclass fail to attain employment as a result of their jobs being outsourced and due to this they leftover up earning less than the rich class of the society.The middle class and the poor class of the society experience di fferent reasons of income inequality. The poor class experiences