This is a scripture that needs thoughtful consideration. The translators of the various Bible versions seem to disagree somewhat as to exactly what the scripture says.
The King James reads: "For thou hast made [man] a little lower than the angels…"
The Jerusalem Bible reads: "Yet you have made him little less than a god…" with a footnote that says: "The author is thinking of man in comparison with the mysterious beings that constitute the court of Yahweh [God]… the 'angels.' "
The New International Version says: "a little lower than the heavenly beings," with a footnote: Or "than God."
The differences in these Bibles is due to the Hebrew word elohim, which has been translated in the KJV as "angels," "God (or gods)" or "judges," depending on the context.
We know from looking around at God's wonderful creation that He is far greater than we are. From contemplating the infinite number of stars in the universe to exploring the secrets of the microscopic realm, we realize that we cannot compare ourselves to God's almighty wisdom and power.
The scriptures confirm this. God asked Job, "Where were you when I laid the earth's foundation? Tell me, if you understand." (Job 38:4) And throughout chapter 38 God reminds Job how small he is. Psalm 104 praises the power and majesty of God, and Isaiah 55:9 emphasizes the superiority of God: "As the heavens are higher than the earth, so are my ways higher than your ways and my thoughts than your thoughts."
So, it seems that this scripture tells us that God made us "a little lower than the angels," not Himself. The angels themselves are mighty messengers and helpers of God, spirit beings that have greater powers than we have. But they all obey, worship, and serve our God. If our Heavenly Father has created man only a little less than angels, how much greater must God be than all beings. And yet He cares for us. "For as high as the heavens are above the earth, so great is his love for those who fear him;" Psalm 103:11
Yet, in some ways God has made us also like Himself. He has given man language, which lets him reason at a level much higher than the other creatures on earth. Man can also speak, read, and write, which lets him communicate information and feelings. Man has a sense of social justice and love, even though these are imperfect since Adam's sin. And God originally gave man dominion over His creation.
After Adam's fall, man's dominion over God's creation became corrupted by sin and selfishness. Man has thrown off the balance of nature, shown cruelty to other humans, as well as to animals, and caused species to become endangered or even extinct. "The earth mourns and withers…. The earth lies polluted under its inhabitants; for they have transgressed the laws, violated the statutes… Therefore a curse devours the earth, and its inhabitants suffer for their guilt…" (Isaiah 24:4-6, RSV)
But Jesus came to die for and to ransom Adam and the whole human race. God has promised a "new heavens and a new earth." (Isaiah 65:17, Rev. 21:1) When mankind comes back in the resurrection, and God's judgments are in the earth (Psalm 96:13; Isaiah 26:9), they will learn righteousness. If they then obey God, the Lord will bring them up to perfection and restore the dominion as it was under Adam.