For this week 's current events I an article read on the Huffington post that talks about the vast wealth gap between Black and White America. According to the post the gap got a bit smaller in the years leading upto the Great Recession but in the past 30 years has exploded as the black and Latino communities have been hit by foreclosures and job cuts.There 's a lot of reasons why there are enormous wealth gaps between minorities and whites in America. The most simple answer is, it takes money to make money. Part of the reason that there 's this enormous gap is because whites have long had higher wages and wealth to pass on from generation to generation. And it 's like a snowball - it gets bigger and bigger as it gets passed on, and the
Income Inequality or “wage gap” is a big topic for freedom fighters and liberals for the simple fact that it isn’t equal for everyone. Because the wage gap is so prominent it's one of the biggest “facts” that discrimination is still apart of everyday American society. The wage gap from these radical interest groups think the economy is get a dollar take a dollar instead of a free flow economy. This misguided idea of the economy is absolutely not true and isn’t at the fault of the Government, but the people.
Of Mice and Men is a novel known across the globe, its delicate tone and emphasis on humanity and the struggles of the world locks the readers in. What dazzles readers most about this folk classic is how it is expressed in a way that all can understand, but few comprehend the deep and dark turn of events that lie between the lines of the book at first glance. The book isn’t referenced so often for its events in the past, but more for how it is related to the present as well as the future. The main issue discussed in this masterpiece is inequality, this subject applies to not only those of the past, but to everyone in every circumstance across the world today. Although it’s the 21st century, this issue is still present in everyday life. Wealth, race, gender, and mental illness has torn society apart and lead to inequality. These major reasons for inequality has affected everyone in its path leading to major consequences as well as issues and problems. In China, a new found wealth has left the social classes more divided and issues are beginning to rise. Meanwhile in the U.S., wealth is destroying students and unequal views toward specific types of people are weakening the patriotic bond.
This social class categorizes the rich, the poor and the “one percent “on a wide spectrum. In the United States, the blacks and whites are at both ends of the distributed wealth throughout the country. Caucasians remain at the “rich, privileged” side of the spectrum while the blacks remain at the “poor, unprivileged” end. In between both groups lies the latinos, which seem to fall closer to African American side of the spectrum. It is believed that this wealth gap had been formed due to the saying “it takes money to make money” (Conley). This is referring to whites since the beginning of time having higher wages and passing down this accumulated wealth from generation to generation. This had begun after World War II when the government
The most important of the vast privileges today’s generation of America has in my opinion are freedom and choice. Of course none of these would’ve been possible without blood, sweat, and tears from our soldiers.
As outlined in chapter 10 of the course text, inequality in housing and wealth is a major problem. The United States is described to be the most unequal countries in the western hemisphere. But with the inequalities when it comes to wealth, the United States is one of the richest countries in the world. Wealth is the sum total of a person’s assets. These assets include, cash in the bank and value of all properties, not only land but houses, cars, stocks, and bonds, and retirements savings. Wealth is one of the factors why residential segregation is an increasing problem.
One interesting thing the author notes is the wealth inequality in the United States. Even though “1% of the population own nearly half the wealth in the country the American dream persists” (Golash-Boza, pg. 269). People still believe that if you work hard you will succeed. At first glance, it’s clear that white people have a higher percentage of home ownership than any other race. However in saying that, I would like to know what the population totals were by race for each state as well.
Paul Krugman, an economics professor at Princeton, writes “Confronting Inequality” chapter 7 in his book. Equality in America is what makes America, what it stands for. Social and economic inequality still is a part of everyday life in America. Education is making parents struggle because they want to give them a good education; but also, health care for those who need it. Middle-class starts to scramble more every day while the high-class gets more prosperous. Inequality in America is creating trouble to the lives of Americans.
Throughout all of history wealth has never been distributed evenly; no monarchist kingdom, communist utopia, socialistic society, or modern free market has ever existed in a state of equilibrium. The laws of the land have always seemed to operate in a manner of some sort of prejudice. The rich generate wealth at a much higher rate than the poor. Income inequality has existed, in some form or another, since the first trade transaction. Since, we have begun record keeping, statistics show the rich controlling increasing amounts of the total income. The only two discrepancies being global catastrophes--The Bubonic Plague and World War II-- the only reason being economy-wide setbacks putting everyone on much more even playing fields. Given the
Are you the "99 percent" or are you the "1 percent" ? In the United States, nationals are set in social classes based upon their salary. This motto focuses on the abundance of the wealthiest and the rest. As indicated by the article "We are the 99 percent" by Brian Shelter, protestors are battling for more equivalent dispersion of wage. They are utilizing online networking like Twitter, Skype, Tumblr, Facebook and more to Arrange occasions and advance their reason.
Another important aspect in closing the racial wealth gap that exist between African households in comparison to white households is income. According to the article, The Roots of the Widening Racial Wealth Gap: Explaining the Black-White Economic Divide: “national, state, and local levels, including raising the minimum wage, enforcing equal pay provisions, and strengthening employer-based retirement plans and other benefits.”(). Increasing minimum wage allow individuals to increase their disposable income which will also encourage individuals to save more. Also, enforcing employer-based retirement plans and benefits can allow individuals to have an income to sustain themselves when they are exiting the work force. Also, bring back and funding
Income inequality is a global issue that need to be addressed and is a threat to the individuals or household with low income. In today’s world the rich are becoming rich while the poor are deteriorating and going below the poverty line. To me, imposing high income taxes would not bring an immediate solution only that, it accelerates the burden. Because the higher the tax rate, the higher the rate of poverty subjected to the low income individuals. Due to that, the government should provide quality education to the citizens so that they become self-reliant in the future and experience high living standards. Moreover, the government should create more job opportunities so that all citizens should have weekly paychecks thus boost household income.
Inequality has been around since man first started to gather in groups. Since the time of the hunter gathers into the middle ages. Today in the United States inequality is worse than it has ever been, even with the significant dip between the 1940s and the 1970s. The increase in inequality is not limited to the United States but it is happening the fastest here. We have to look at the different factors that have played a role in the increase which are: technology, the decline in manufacturing and increase in globalization, and government policy.
With globalizations, middle-class Americans are experiencing a new level of employment uncertainty, which speaks to the increase in homelessness and food insecurity. According to our class guest speaker Vic Papale, “Americans are faced with higher domestic food prices, reduced incomes and employment and having already sold off assets, reduced food consumption and cut spending on essential items such as health care and education.” These families, individuals and children risk falling deeper into destitution and the hunger-poverty trap.
Income inequality has grown significantly during this past decades and this phenomenon continues to increase over the years. This problem is constantly discussed in the daily news all around the world. Several consequences of this increase of inequality between people leads to economic problems such as high unemployment rates, lack of work for young people, fall of demand for certain product. The gap between rich and poor is increasing, the rich are richer and the poor are poorer as a result politicians and economists try to adopt certain policies in order to reduce this gap. The United States exhibits a wide difference of wealth distribution between rich and poor people, which is larger than any other major developed country.