THE ROARING 20S 1920 1929
AMERICAN ORGANIZED CRIME OF THE 1920S
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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It was very small gap between the rich and the poor.
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Wealth in American society was basically equal among all citizens.
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There was a large gap between the rich and the poor.
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None of the above.
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Detailed explanation-1: -Poverty in America has become a death sentence. Meanwhile, the people on top have never had it so good. The top 1% now own more wealth than the bottom 92%, and the 50 wealthiest Americans own more wealth than the bottom half of American society – 165 million people.
Detailed explanation-2: -The reason is the disparities of income distribution between rich and poor are rising. The trend of rising income inequality causes a growth of unemployment rates as well as crime rates. In my opinion, however, the problem of income gap can be solved by reducing levels of corruption, and raising the minimum wage.
Detailed explanation-3: -During the 1920s, there was a pronounced shift in wealth and income toward the very rich. Between 1919 and 1929, the share of income received by the wealthiest one percent of Americans rose from 12 percent to 19 percent, while the share received by the richest five percent jumped from 24 percent to 34 percent.