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Effects of student loan debt essay
Inequality of income distribution in American society
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George Carlin once said, “They call it the American Dream because you have to be asleep to believe it.” Unfortunately, he wasn’t too far from the truth. This American Dream once suggested that hard work would pay off over time. The big house and shiny new car, albeit cliché and materialistic, were the goals through which the people of this country sought rigorous education and a decent salary. Now, with unemployment at an all time high and millions of Americans living below or on the poverty line, it’s difficult to determine whether the dream is to obtain these things or to simply “get by”. Throughout the years, the idea of the American Dream deteriorated amidst a variety of unfavorable socio-economic factors. Amongst these are a low morale, unequal opportunity, a widening gap between the rich and poor, decreased employment opportunity, and the rising cost of higher education. An economic tug of war is taking place in which approximately 40% of all American wealth belongs to 1% of the country’s population, leaving no middle ground. This small portion of wealthy Americans holds the highest concentration of wealth since the Gilded Age of the late nineteenth century. Controlling vast corporations and millions in stock investments, the aristocracy also possesses a large influence in the political realm (Davis). Numerous payments to lobbyists and political candidates provide easy access to policies that will protect their wealth, such as a progressive tax repeal. Many politicians sway their decisions in favor of the wealthy investors who backed their expensive campaigns. When just under half of Congress is composed of millionaires, it’s difficult for those who aren’t in that higher class to have a voice. Using their wealth as a resou... ... middle of paper ... ...3 Apr 2014. Gordon, Marcy. “Student Loans May Have a Negative Impact on the US Economy.” What is the Future of the US Economy? Ed. Ronald D. Lankford, Jr. Detroit: Greenhaven Press, 2013. At Issue. Rpt. Form “Student Loands Sow Seeds of Economic Ills.” USA Today 30 Sept. 2007. Opposing Viewpoints in Context. Web. 3 Apr. 2014. Kaiser, Robert G. So Damn Much Money: The Triumph of Lobbying and the Corrosion of American Government. New York: Knopf, 2009. Print. Lach, Alex. "5 Facts About Overseas Outsourcing." Center for American Progress. N.p., 9 July 2012. Web. 08 Apr. 2014. Martin, Patrick. “The US Population Is Increasingly Divided By Wealth.” What is the Future of the US Economy? Ed. Ronald D. Lankford, Jr. Detroit: Greenhaven Press, 2013. At Issue. Rpt. From “Christmas of Crisis in America.” http://wsws.org. 2011. Opposing Viewpoints In Context. Web. 3 Apr. 2014.
By using the points listed previously, it is evident that a small portion of the population control what policies are implement in America and hold most of the nation’s wealth. I believe this two factors, the wealth one possesses and the amount of control an individual has, are interconnected. America has become a nation where money can get you anyway because it significantly increases the amount of opportunities available to the individual. Many people can attest to the presence of this class, including individuals from Kansas City who participated in a cross-section study with detailed interviews. The citizens of Kansas City referred to these people as “big rich” or “blue bloods” (pg
Rust, M. (1998, August 3). "Public Welfare for Billionaires." Insight on the News. v14 n28.
Unequal wealth distribution is a significant issue in the United States. The U.S. exhibits the widest disparity in wealth amongst developed countries by a substantial margin. (Government is Good, What is Really Wrong with Government”. This problem is on the uptick as the salaries of CEOs continue to increase astronomically while that of ordinary Americans stall and in some cases even decline. Not only is this matter an economic dilemma but it is also a social and political one as well. This fiasco has led many Americans to believe that the bank of justice has gone bankrupt.
Years ago, the United States of America was the prime example of prosperity and opportunity. In recent years, in the worst recession since the Great Depression, unemployment and interest rates have skyrocketed. The “American Dream” is an idea that was once a commonly accepted ideology in this country. It has since become only a fallacy. The “American Dream” is no longer an attainable idea, only a fantasy. The “American Dream” is not a true dream that will ever be equally attainable by everyone.
The American Dream is known to be a hope for a better, richer, happier life for all citizens of every class. For almost all Americans, this entails earning a college degree, gaining a good job, buying a house, and starting a family. Although this seems wonderful, a large amount of the American population believes that the Dream has changed immensely because of increased prices in today’s society, the price of tuition being highly unaffordable, as well as the unemployment rate skyrocketing and weaker job growth. While some American citizens believe it has changed, others believe that the American Dream has not changed, but point out it is harder to obtain.
Divisions within the social stratum is a characteristic of societies in various cultures and has been present throughout history. During the middle ages, the medieval feudal system prevailed, characterized by kings and queens reigning over the peasantry. Similarly, in today’s society, corporate feudalism, otherwise known as Capitalism, consists of wealthy elites dominating over the working poor. Class divisions became most evident during America’s Gilded Age and Progressive era, a period in time in which the rich became richer via exploitation of the fruits of labor that the poor persistently toiled to earn. As a result, many Americans grew compelled to ask the question on everyone’s mind: what do the rich owe the poor? According to wealthy
Humans often make goals to reach an exhilarated state. When a goal becomes too hard to obtain and when too many people fail to reach this goal, society digresses. The American Dream is the national ethos of the United States that was created in 1931. It is a set of principles in which prosperity and success can be achieved through hard work and the right ethics. However, over the years, the “car has stopped.” This so-called “dream” is running low and slowly turning into a fantasy. With the exploitation of an over-powering government and the reforms of education heading in the wrong direction, the American Dream is running low and is on its way to extinction.
People who work hard enough become successful and build a good life for themselves and their family. Millions of Americans and others who admire America have believed this for generations. However, is this still true? Brandon King debates his interpretation of the American Dream in his published work, “The American Dream: Dead, Alive, or on Hold?” During his essay, the speaker highlights how important the American Dream is to the economy and providing a distance from inequality. The speaker emphasizes his belief that the American Dream is still alive within America and that people must work hard to achieve it. When discussing the American Dream, King will agree that the idea is alive and thriving in the minds of Americans; yet, I argue that the idea is on hold within American society due to lack of upward social independence and economic mobility.
The American Dream is so important to our country and especially for our generation to take seriously. The American Dream is the opportunity to reach the goals one sets for themselves. It is about having your dream job and life you have always fantasized about. The dream is also about having freedom and equality. The American Dream was much easier to attain a few decades ago compared to today. However, it is still possible. The economy was better fifty years ago than it is today. People are in greater debt now and the United States is in higher debt than it was fifty years ago. The American Dream is still possible despite the lack of improvement within social mobility in American society over the past years. The American dream is achievable by being able to live a middle-class lifestyle and that lifestyle is obtainable through hard work and perseverance, even in light of obstacles such as racism. “The American Dream is still achievable, however, the good news is that people at the bottom are just as likely to move up the income ladder today as they were 50 years ago” (O’Brien 1). The ability to attain the American Dream is hindered by race, the middle class, and giving up facing adversity.
From families looking to flee harsh living conditions in their native country to American citizens wishing to escape impoverished conditions through hard work and determination, the “American Dream” is a concept that people throughout the world have aspired to achieve for hundreds of years. Regardless of birthplace or socioeconomic status, the “American Dream” promises success, prosperity and upward mobility to any citizen with ambition and work ethic. Hundreds of millions of American citizens as well as immigrants have flourished in the United States throughout the course of history in a society with a thriving middle-class. However, in recent years, this dream has become increasingly difficult to achieve for those who are not already wealthy.
William Domhoff’s investigation into America’s ruling class is an eye-opening and poignant reading experience, even for enlightened individuals regarding the US social class system. His book, Who Rules America, exploits the fundamental failures in America’s governing bodies to provide adequate resources for class mobility and shared power. He identifies history, corporate and social hierarchy, money-driven politics, a two-party system, and a policy-making process orchestrated by American elites amongst a vast array of causes leading to an ultimate effect of class-domination theory pervading American society. In articulating his thesis and supporting assertions, Domhoff appeals rhetorically toward an audience with prior knowledge of America’s
The American Dream is the idea that everyone is able to prosper and achieve success through a system of equality and hard work. The American Dream is very attainable; at least that is what America would like the general public to believe. America has built this image of a promise land filled with unlimited resources and endless opportunities, which portrays an equal society where almost everyone is guaranteed to succeed. In reality this American Dream promoted by America is a lie for many Americans. For average Americans it is possible to "pull themselves up by their bootstraps”, work hard, and achieve the American Dream but only to a small extent because of the inequality in America which is attributed to America’s systems of socioeconomic
With America actually being seen as the land of assurance, the American dream is usually associated with the freedom and opportunity of gaining prosperity, recognition, power, triumph, and contentment. On the surface, this dream appears virtually delighted, offering individuals the exceptional hope of accomplishing success despite of one’s race, religion, or family history. The American Dream is accurately what it seems to be the chance of perfect lying nearby the corner. However, the actual nature of this dream prohibit the pleasure of the victory one has earned, as the desire is always demanding one to work a slight harder and gain a slightly more.
America prides itself on being a democracy when in fact, these ideals are only a political illusion. The Constitution of the United States deems the nation a republic, thus regarding the people’s desire to be a democracy, yet there is much evidence that suggests America is an oligarchy. While a republic’s citizens elect many representatives to make governmental decisions on their behalf, an oligarchic country is controlled by a small group of elites. The idea of America being an oligarchy assumes that elites have the power in many aspects of government, such as the election process and the Electoral College, in Congress, and federal judges in the Supreme Court. The Constitution creates a political illusion of democracy that gives the impression of the people having power in the many aspects of government when, in reality, the elites dominate the Legislative, Executive, and Judiciary branches of government, creating an oligarchy.
Throughout United States history, power of the upper class has been maintained by assigning “different” people a lower, less desirable, place in society, predisposing them to social inequalities. Social stratification creates a system of social classes in which people born into a specific class have different “life chances” (Macionis 28). These classes are somewhat maintained by the fact that people tend to “take care of their own,” meaning that members of the upper class generally favor other members of the upper class and offer opportunities for advancement in society to those they feel most similar to (Doran). People from lower socioeconomic classes generally experience less life opportunity, have increased poverty and therefore have increased health issues, increased crime, decreased education, and decreased job opportunities (Macionis 38-39) These people are also often politically alienated, and therefore also lack the appropriate government influences to change their current status (Macionis 39).