Not only are the percentages that the middle class is taxed are high. The percentages never go up again after reaching a certain annual income. This is a fundamental flaw in the US tax code. But some people mostly upper class tax payers and political lobbyist do not think it is real. Our newest civil rights struggle is the income gap between the rich and the poor.
As I watched Unnatural Causes: In Sickness and in Wealth,I was really shocked at some of the points they made throughout the episode. At the beginning they tell us that America spends about two trillion dollars a years on medicare which is about half the amount of money they spent on Health care around the world. If we look at this number it is huge but there still so many people who do not have health insurance. Health insurance in this country is still a problem for both the rich and the poor. If are unemployed our insurance gets taken away and if we make too much money our insurance still gets taken away.
The main reason for the decline in tourism to New York was the issue on security and terrorism. In order to get extensive security this places a price on the world economy in the terms of a decline in productivity growth and more restrictions in the free shipping of goods, services and capital. In the following three months after 9/11 attack, cost the city’s economy 143,000 jobs and a $2.8 billion in lost wages, which led to effects on unemployment issues. According to the webpage “Economic Impact Analysis on the 9/11 Attack on New York City” financial services and insurance create over 75% of lower Manhattan’s $73 billion in economic output. These examples show that the 9/11 attack had a domino effect on New York City spending budget in the way that a loss of a source of revenue in area is the loss in another.
While it was true that this war helped move the economy, it came up at a large cost; Three percent of the total American population died in the war, that was roughly sixty million people. It can be just unbelievable how we sometimes put more value to money than we do to people 's health. Because clearly, we keep deploying troops on different locations
Before the Stock Market crash of 1929, America went through a decade of prosperity and social change known as the Roaring Twenties. New fads and numerous inventions emerged throughout our country. Many people bought on credit and as a result, our economy flourished. However, many Americans failed to realize this would be one of the underlying causes leading to the Great Depression. For instance, “Most people bought, but many couldn’t afford to pay the full price all at once.
During the “Roaring 20s”, everything seemed to just keep getting better and better-stocks kept rising, people could buy more things with installment buying-but little did they know, the Great Depression would soon be upon them. In 1929, the stock market crashed which caused millions of people to go in debt. Before anyone knew it, banks were closing, people were losing their jobs and men and teens were forced to roam the country in search for work. People began to turn against the current president, President Herbert Hoover, and to a new person, Franklin D. Roosevelt. Roosevelt came up with a plan to help aid America called the New Deal.
“Puerto Rico’s Economy and it’s Affect on the People” Although Puerto Rico had been one of the most progressive economies in the Caribbean region, today they face major economic turmoil. Concerns regarding the sustainability of Puerto Rico’s public finances have heightened over the past year, despite all of the measures that have been taken by the island’s government to reduce spending and increasing revenues. The debt in Puerto Rico has had a huge effect on the Puerto Rican population. The taxes have increased severely, unemployment rates are low, and many people are migrating to the mainland. In 1898 Puerto Rico became a U.S territory , when it was acquired from Spain after the Spanish-American War.
This creates problems because it adds to the eminence amount of tax dollars spent every year. In the article “The high price of incarceration in America” by Aimee shows that the average American taxpayer spends about $260 a year that is almost 80 billion dollars a year for incarceration (1). There have been many voters who have been trying to reduce the amount of mass incarcerations that have been going on since the 1980’s. The majority of prisoners who were released between 2014-2015 returned to crime but the rate that they were committing the crime and returning was dropped at an astonishing degree. In the article “Prosecutors Fight to Plan to Lower Drug Sentencing “ by Sari, Horwitz (1) shows how government officials are trying to cut back on the amount of long term sentencing for first time offenders.
Incarceration rates have skyrocketed over the last forty years-- which could be interpreted as good or bad. There have been many questions surrounding incarceration directly being linked to a drop in crime rate: both positive and negative. One pair of economical authors, Steven Levitt and Stephen Dubner, approached this concept from a mostly-positive outlook: the high incarceration rate was responsible for one-third of the crime drop in the 1990’s (123-124). The authors use high incarceration rate along with innovative police strategies, plummet of the crack market, and aging in the population to make a base argument of reasons for crime drop; however, the main argument they utilize is the legalization of abortions (Levitt and Dubner 120-121,
In today’s society, the separation of social classes and the variation of socioeconomic statuses continue to increase. According to “Class in America,” which was published in Race, Class, and Gender in the United States, wealth distribution in the United States has continued to change over the years. It appears that the rich are getting richer, and the poor are getting poorer. Due to the way wealth is distributed in today’s society there are 3.4 million homeless individuals in the United States (Mantsios, 2009). As a result of the wealth distribution in our society, more individuals are being considered lower class as a result of their socioeconomic status.
In the period of thirty years between 1970 and 2000 immigration and immigrants in the United States has changed drastically. Their origin countries have changed, their are more in the US and dejectedly poverty rates have risen as well. Global events as well as new US immigration laws/amendments have impacted the fundamental changes in immigration. Although not all the shifts in immigration have been positive, undoubtedly in a period of thirty years there are noticeable differences. Due to events in both the US and multiple countries many people have immigrated to the US between 1970 and 2000.
In 2015, 11.7 million unauthorized immigrants live in the U.S. This number has been gradually increasing over the past decades, but has been stable for the past few years(Pew). There has been a long debate about how these undocumented immigrants affect our economy, whether their impact is negative or positive. Some say they are a drain on the economy and others argue that they make America better. A few common arguments are that immigrants steal the jobs from Americans, they don’t pay taxes, and they are more costly to our states than they contribute.