10 Interesting Fact About The causes and consequences of income inequality

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• Income Inequality is a situation where a large amount of income is concentrated in the hands of a small number of people.
• Income Inequality creates a gap between people who have a lot of income and people who have little income.
• Income inequality can reduce the possibility to achieve higher economic welfare.
• Income inequality can cause poverty, because a large amount of income is concentrated in the hands of small groups of people.
• Income inequality can cause social injustice because the poorer people do not have the same access to resources and opportunities.
• Income inequality can cause unfair fiscal policies, because richer people tend to get more benefits from fiscal policy.
• Income inequality can make people more poorer more vulnerable to the economic crisis, because they have less the ability to overcome economic downturn.
• Income inequality can reduce people's purchasing power, which can reduce consumption expenditure and cause slower economic growth.
• Income inequality can cause worse health problems because the poorer people tend to have more limited access to health care.
• Income inequality can cause social division because the poorer people tend to have more limited access to educational and job opportunities.