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The gap between the poor and the rich in the united states of america
Wealth disparity sociology
Effects of inequality in society
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Have you ever been working for an extended period of time but feel that when your paycheck rolls in you feel robbed or deserve more? Well in today's argument I am here to talk about how income affects us as a population in many ways. So let us adventure in the idea of why we should fight for the minimum wage to be at least $18 dollars. And for the unfair thought of the government making the population so uneven with rich standard and the poor standard. Which will shows the reason for capping a number of rich people how earn a vast amount of money every day. In the idea of capping the income to rich people, my first reason is if we do not stop or limit the amount of income that rich people get it will create more poverty. This is because people in the lower class will receive less income which transfers most of the money into the rich system. For example in 1979 and 2007 corporate profit increased to 13% per year causing households income to increased 275 percent for the richest percent of households. Which is a total different story when you view everyone else because the rest of the people income had shrunk 2% which was caused throw the great gain from major incorporated companies. …show more content…
This fact proves my idea because when you give more money to the people in rich standards you manage to suck out the few dollars that people depend on their day to day lives. This leads me to believe that if this happens it can even affect how the economy controls its goods which can cause people more problems with their life. Another reason we need to start capping rich people would be the unequal distribution of money.
This might raise the question how does this affect us as law following citizens. Well when you hear unequal distribution the main idea that those two words tell us, is the action of not giving something fairly among people which usually leads to people getting angry. For example in early 1940 to 1970 the income had doubled causing a level of money to uniquely distribute into families. This was causing a shift making a richer standard family and then the poor families which were not good. This lead to that shift that made it really hard for a lot of homes to go out and pay for something they really needed which caused the economy a lot of loss in money from people not spending on
goods. In addition, the last reason why capping a certain amount for maximum wage would be a good idea would be because so many major incorporated companies would be able to save so much money in paying all of its workers. For instance, if the company would have to pay more for each person starting the job it makes less money but at minimum wage, it would make it so that all that money saved would be used to invest in bigger projects that can improve many new innovative ideas. Another way we can improve by capping the maximum wage would be that all the money earned by the company can be taxed more on the major companies decreasing tax for everyone in the states. Even though some people say that the government should not regulate income because they can cause so much mayhem in are economic state, they are wrong. For the simple reason of government taking charge in managing are money we could have an economy that thrives on many people supporting the growth of our country. They are the ones in today’s era that still manage the control of the money flowing in and out to other countries. Without are government control on money it would be more quixotic in our day to day lives in America.
According to the established FLSA, non-exempt employees working on an hourly basis should make a living wage working the forty hour work week. Currently,minimum wage is not equal to the living wage. An action needs to be taken now, before the middle class completely disappears. One percent of the populations owns more of the wealth than the other ninety-nine percent.If the working class is not able to improve its current situation only two social classes will exist. America will be divided by a high well paid class and a low class with a minimum wage
Understanding the basic concept of minimum wage is important for every single individual. We all live in this world together, and it is obvious that there is an order. In order to continue our lives and afford our basic needs, we all need to work and gain wealth. As the old adage says ‘‘There ain’t such a thing as a free lunch. ’’
In summary, there is one thing that people need to survive in today’s society: money. Making more legal money means that people are less likely to turn to crime for survival, more people are spending more money, and people are living the way they deserve to. Minimum wage needs to be raised to meet the people’s needs.
Poverty continues to grow in America. The average minimum wage in the United States is $7.35 an hour- far too low in today’s society. Key expenses, for example, gas and housing prices, have gone up significantly since the minimum wage was last changed in 2007 (Wagner 52). The laws creating the minimum wage were intended to improve the standard of living and decrease poverty. Raising minimum wage is a vital step in decreasing poverty and giving every family the opportunity to survive and succeed. Millions of hard-working Americans are below the poverty line and need an increase in pay. Minimum wage must be raised because it will diminish poverty and assist the working class to support their families.
Income inequality not only harms us fiscally, but also affects our mental and physical wellbeing; therefore, it is important to identify the right ways to control wealth distribution among people.
Income inequality in the United States, as of 2007, has reached levels not seen since 1928. In 1928, the top one percent received nearly 24% of all income within the United States (Volscho & Kelly, 2012). This percentage fell to nearly nine percent in 1975, but has risen to 23.5% as of 2007 (Volscho & Kelly, 2012). Meanwhile, in 2007 (see
Income inequality is a big ongoing problem in the United States. It has a big effect on what America was all about, the American dream. The American dream that everyone is equal and has equal opportunities. Although a big part of what goes on in the Untied States that just doesn’t fit the American dream; women are unequal in the work place. They are put under what is known as the “Glass Ceiling”. Women do not get promoted in the work place and aren’t getting equal pay as men. This also leads to wag gap between the men and women. Both create income inequality for women and affect their American Dream. There is a long history of women having to deal with the “Glass Ceiling”. Over time woman have made progress but more progress is needed to make things equal. Women suffer from income inequality because of the “Glass Ceiling” and wag gap, thus going against the American Dream.
3. What are the effects of this wealth inequality in the US and what causes it, as well as some possible solutions and their ramifications, will all be discussed and answered below. There has always been a wealth gap between the richest and poorest in society. However, in the past decade, the wealth gap between the richest and poorest citizens in the US has been growing rapidly. In the 70s and 80s, the wealth and income growth rate for both poor and rich people were similar, however, between the years 2009 and 2012 the top 1% income increased 31% while for the bottom 20%, their income actually dropped and for the vast majority of Americans, the average yearly income only increased by 0.4% [4].
Inequality exist and is high in America because the amount of income and wealth that is distributed through power. In America the income distribution is very inequality and the value of a person wealth is based on their income with their debts subtracted. “As of 2007, the top 1% of households (the upper class) owned 34.6% of all privately held wealth, and the 19% (the managerial, professional, and small business stratum) had 50.5%, which means that just 20% of the people owned a remarkable 85%, leaving only 15% of the wealth for the bottom 80% (wage and salary workers)” (Domhoff, 2011). In contrary the poor do not get ahead and the rich get more. Americans are judged and placed in class categories through their home ownership which translates to wealth. Americans social class is often associated with their assets and wealth. “People seek to own property, to have high incomes, to have interesting and safe jobs, to enjoy the finest in travel and leisure, and to live long and healthy lives” (Domhoff, 2011). Power indicates how these “values” are not distributed equally in American society. Huge gains for the rich include cuts in capital gains and dividends and when tax rates decrease for the tiny percent of Americans income is redistributed. Taxes directly affect the wealth and income of Americans every year.
When it comes to economics, income inequality is solved through wealth distribution. It robs from the rich while giving to the poor. Well, It worked for Robin Hood. Unfortunately equality is an ideology that ignores human nature. The incentive for the Haves to work hard is taken
America’s upper class has been getting richer since the past three decades, and we have still not found a way to stop this. We have been unable to find a way to distribute America’s wealth equally, so we can have a decent lower class and a good middle class. Inequality has caused many people to struggle in various ways, but their is alway another side to the story.
Although Saez’s provides legitimate causes of income inequality, I highly disagree with the thought of making changes to end income inequality. In any diverse economic environment, income inequality will exist due to the rise of some economically successful people and the further development of factors that push people into poverty. I believe income inequality exists due to people not taking advantage of equal economic opportunities, the diversity of people qualified for certain occupations, and the ideas centered around capitalism.... ... middle of paper ...
There is also the damage that the inequality does to the society and the government. Thomas Jefferson once said, “The small landholders are the most precious part of a state.” Today that would mean that the middle class is the most important part of our society, however, the farther we move into the future the weaker the middle class becomes (Krugman, 587). The America that we live in is unequal in income and social aspects. The rich do not live the same lives as those that are less fortunate, and the less fortunate do not get to enjoy the perks that come with the lives of the rich people.
For many people in the United States, life is no more than a regular work cycle. Members of working class usually have a High School diploma and may work in a low skilled occupation or manual labor. Most of the enjoying age of this people is spent in working, as they don’t want their new once to have a life they struggling through. Therefore, this essay will argue that minimum wage should be increased federally to $15/hour by 2017. Firstly, if taxes touches the sky, why should the minimum wage be on the ground? Increasing minimum wages would also create new opportunities for education as the students wouldn’t have to work crazy hours. Likewise, many couples won’t have to work multiple jobs in order to manage the household. Lastly, it will lift
Income inequality is a big problem in the United States because the top, wealthiest American saw huge increases in their incomes, which the rest had their incomes go down. Bottom people do not have the same amount of money and the opportunity to move up the social ladder as the rich people do. In order to reduce income inequality, the government needs to tax the rich people more, and give poor people more money and more social services - education, food subsidies, health care.