Yep, The Great Gatsby is a good one for this topic.
But maybe the assignment has nothing to do with literature at all. Maybe it is to be a good, solid argumentative essay, and it does not necessarily have anything to do with any particular story.
So, think of an opinion you have about the American dream -- one that some other people might not agree with. This is what it means to make a thesis statement that is "arguable."
I have some opinions, but you should use your own. I might argue, for example, that the American dream is a contrived, destructive concept that hurts people by causing a gap between their expectations and reality.
Or, I might argue that the concept is used as a social control mechanism, encouraging people to be productive and pay their taxes on that big house with the picket fence, etc.
:-) Make sure you make a bold argument, figure out what your opponent's argument would be, and then show how they are wrong and you are right!!