America, the land of equity, has the largest ratio of rich citizens to poor citizens at 12:1. Compared to Japan and Germany’s measly 4:1, this information is outrageous. America is shown to have the most skewed economic pyramid when denoting the amount of people on each side of the economic slide. The selection, Class in America - 2006, an academic paper by Gregory Mantsios, argues the existence and magnitude of class and economic standing in the United States; through the use of fact and opinion, he creates the visual of a society severely divided by economic standing. Gregory Mantsios effectively convinces the audience of the differences in class sanding that cause a significant impact in the lives of americans and economic spectrum with his use of logos, anticipation, and credible evidence.
The problem with the widened wealth gap is that the inequality may harm the quality. Meaning that those in the higher classes see it as you can use the money with no restrictions. However, economist believe that the “relationship between inequality and economic freedom, with the possibility that policies that are meant to reduce inequality will reduce economic freedom, which will then only make inequality worse.”
Today, there are endless arguments about the existing of the American dream. In “They say, I say” by Gerald Graff, Cathy Birkenstein and Russel Durst. There are four article that I have evaluated. The upside of income inequality – Gary S. Becker and Kevin M. Murphy, American Dream: dead, alive, or on hold – Brandon King, Bring on more immigrant entrepreneur – Shayan Zadeh, America remains the world’s beacon of success – Tim Roemer
In recent discussions of income inequality, a controversial issue has been whether income inequality is more beneficial than detrimental to today’s socioeconomics. On the one hand, some argue that income inequality leads to economic inequality. From this perspective, Jacob Kornbluth, director of the 2013 documentary, Inequality for All, focuses on why economic inequality is happening concerning the distribution of wealth and income, and if it is a problem. On the other hand, however, others argue that this high rate of income inequality is damaging America’s middle class. In the words of Princeton professor and journalist of the New York Times, Paul Krugman in his 2007 book The Conscience of a Liberal, one of his main proponents in his chapter
In conclusion, the gap between rich and poor has and it will keep increasing, favoring just the wealthy ones. Being over the law, having multiple opportunities and taking advantage of the poor. While on the other side, the poor will have limited opportunities, not being able to success and having debts in order to buy their needs. It will eventually affect the country economy and everyone and it has to be stopped.
As stated earlier: “In 2009 the top 1% of Americans has 40% of America’s money, and it’s getting worse.” Getting worse means that the top 1% earns even more money than it did last year. (wealth inequality in America)If this problem gets larger than one group of people (the top 1%) will be in control of the wealth in America. 5,000 Americans were surveyed and they were asked about what an ideal money distribution system would look like. The top 1% of reality’s Americans had more money than the top 20% of their ideal Americans. (wealth inequality in America)
Both of the following articles, "Economic Inequality: It's Far Worse than You Think" and "Inequality and the American Dream" share their own opinions on the "American Dream", and how it relates to the American economy as well as the lives of all United States citizens. They also have written about the inequality Americans face, the poor distribution of wealth, and the substandard social mobility; how difficult it is to climb through economic society for the lower and middle class.
Americans are embracing facts of inequalities and wage control, which has been a drawback in the American economy in the past, yet new policies have reduced inequalities by passing a law back in 2007 to raise wages, that is “Congress passed the first increase in the minimum wage within a decade” (574). That same embrace has the middle class preparing for the future by planning new strategies to educate their children about the dangers of debt to income ratio, gaps between social equality, and political power among the wealthy gaps. Also, unbalanced monetary stimulants, which have no power of motivation for some whom are after the American
To sum up, this big existing gap from low to high classes, taking latin america as an example, have many causes hitorical, political and cultural causes. It is necessary to begin seeing the things from another angle and try to equalize the opportunities between those who have money and those who don 't. The same as keeping in mind the real value of the products and the time spent by
The public’s image of people living in poverty didn’t just change overnight. There were certain things that happened over the past several decades that evolved the “poor people” stigma over time. The presidents’ viewpoints were one strong contributing factor to the change. When Johnson gave his State of the Union Address in 1964 with such a strong mindset to overcome the issue of poverty, everyone seemed to agree with his idea. The public wanted poverty to decrease and for the government to step in to aid people that were already living in poverty and set up safety nets to protect people from slipping below the poverty line. Noel King, who is a reporter on wealth and poverty for a national broadcast radio program in Los Angeles called, “Marketplace” points out in his article, “American
Wealth inequality is at an all time high in the United States. And of course, there is both a praise and scorn of such inequality for a variety of reasons. Is a compromise between both positions possible? Let’s reconsider the arguments for and against wealth inequality, first. ---------------------
Upon reading Bell’s article I found that I agree with most of the author’s assertions. In my own experience as a child I too would categorize my family as being poor. Although my father was employed, his job was categorized as janitorial and as such paid minimum wage. As a child of the late and sixties and seventies I did realize that my family did not have some of the luxuries that other children enjoyed but I nor anyone in my family was ever treated as lazy, untrustworthy or lacking integrity.
The current state of America`s economy is worrying the gap between wealthy and poor in constantly widening. According to Reich (2013), the middle class is earning less than ever before, while the wealthy are banking better revenues than they did in 1978. In terms of wealth, the poor are struggling in corrupt economy, while the rich enjoy establishing multinational companies.
Walk down any small town street in America during the 1970’s and you would see family run businesses run by middle class families. The owners of these businesses weren’t wealthy or poor. They lived comfortable often in a suburb family home. Flash forward 35 years and the gap between the income of the wealthy and the middle class has been growing. This income gap continues to grow while the amount of people in the middle class has been shrinking. Middle class families are calling out for help. If the U.S. government does not take immediate action all of America will suffer. When the middle class turns poor the wealthy will have no one helping them become richer. The wealthy are too ignorant to acknowledge that the middle class is suffering.
The United States economy is constantly changing; however, since as early as 1956 the bulge of the middle class has seemed to be steadily disappearing. Supporting the idea that the United States society has taken on the shape of a distorted hourglass. In Stewart Lansley’s article, “The Hourglass Society,” he writes about how the United States society has a growing gap between the rich and the poor; furthermore, causing an increase in inequality among the different social classes. Lansley makes the statement, “One of the most significant effects of America’s hourglass society has been the capping of opportunities and the emergence of downward mobility amongst the middle classes”. This statement shows the unfairness that the middle classes