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Effects of income inequality in the usa
Effects of income inequality in the usa
Effect of social inequality
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It certainly seems peculiar how so much disparity exists among the haves and have-nots in the country that leads the free world. The high level of poverty in the United States coupled with the disparaging rates of income are at times hard to comprehend. How can a country of such great wealth and power also be a country of vast poverty? Poverty will always be evident in the United States to some extent. However, minimizing poverty and income inequality will be conducive to the well being of the United States.
Numerous organizations are assisting those in need. Then why does the United States have so many people poverty stricken? Some blame the impoverished themselves while others blame the wealthy, the economic system, and other facets of society. Regardless, poverty is a reality no matter where the blame lies.
In society today, everything is about the “now”. Everyone wants something instantaneously. Because of the desire for instant gratification, people are overcome by what they desire which causes them to quench their yearnings by obtaining what they want. For example, an individual that has just graduated from high school and he wants money, so he gets a job at a fast-food chain instead of pursuing a college degree. He wants money now and does not want to pay for college even though he would be making more money over his lifetime in his profession than he does at the fast food-chain.
Instant gratification is extremely evident in the poverty stricken population of the United States. Because of this, poverty has turned into a vicious cycle. How a parent acts influences how his or her child will act. The cycle continues. Although an individual makes the choice of instant gratification, society, through the actions ...
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... is detrimental to the impoverished because even though they are living off of charity and welfare programs, they are still purchasing unnecessary goods such as smartphones, expensive sneakers, and expensive clothes. Because of this purchasing, there is no money left over to save. To get out of poverty, one must save money. This consumption is why the cycle of poverty continues. To break this cycle, the government and organizations need to change the way they provide for the poor.
The problems of high poverty and income inequality exist due to apathy and disengagement with reality. This disparity needs to correct because if not, it will lead to the destruction of society. The problems are best corrected through teaching efforts focused on job training, furthering education, delayed gratification, emphasis on marrying later in life, and control of consumption.
Furthermore, economists, politicians, CEO, and other elites constantly gloat that the U.S. has the richest economy or the highest GDP in the world. Yet, are we not forgetting that there is such a tremendous gap between rich and poor in this country, and thus a large number of our citizens are forced to live under near Third World like conditions?
Why are so a large number of people that beg for money, sitting on the streets, looking for food 's some sort? It is not day-to-day that we consider situations like this, but it is out there constantly without all of us realizing it. A number of states have poverty 's more issues than others, but it is sad to think about how plenty of people are actually considered to be in poverty. This is an inequality concerning me a lot, and is getting worse daily. Poverty in the United States relates to people whose annual household earnings are less than a poverty line set by the United States government. Poverty is common, resulted in by numerous different factors such as failing markets, structural problems, unfortunate mishaps, and poor individual
As stated by Franklin D. Roosevelt, “the test of our progression is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little.” Many people may agree with this statement considering that the United States is such a wealthy country and in 2012, 46.5 million people were living in poverty in the United States and 15% of all Americans and 21.8% of children under age eighteen were in poverty.The honest truth is that many people do not know the conditions this group of people must live in on a daily basis because of the small number of people who realize the struggle there is not a great amount of service. In the article Too stressed for Success, the author Kevin Clarke asks the question “What is the cost of being poor in America?” and follows the question by explaining the great deals of problems the community of poverty goes through daily by saying, “Researchers have long known that because of a broad reduction in retail and other consumer choices experienced by America's poor, it is often simply more expensive to be poor in the United States.
The distribution of wealth by country is an amazing thing to look at (see table 3). The United States comes clearly on top with 41.6% of the wealth across the world, with the next closest being China at 10%. This shows that there is plenty of wealth to go around in the United States; we just don’t equally distribute it. The Gini Coefficient is the best way the world economy can represent the income distribution of a nation’s citizens. The United States ranks well below any other first world country (See table 2) This is an embarrassment to our country. We are a wealthy and successful country, yet we have a bigger gap between the wealthy and poor than any other country that compares to
One of the main causes of poverty is a lack of money. There are some families that do have at least one person employed in the household but the money earned is not enough to provide for the family. Tough decisions such as paying rent buying groceries become a daily challenge for struggling households. Those living in households headed by people with no high school degree are the most likely to enter poverty. Limited options in the job market make it hard for those without degrees the ability to find jobs that will pay above minimum wage. Many Americans earn less than the nation’s median income which hinders most Americans from living a life free of hunger. Children who grow up in poverty suffer more persistent, frequent, and severe health problems than do children who grow up under better financial circumstances. Children of poverty are at an extreme disadvantage and cycle ends up repeating itself until the pattern is somehow
Poverty is a complex and growing problem in the United States. As of right now there is no solution. There are proposals and acts, such as Obama Care, that were enacted in an attempt to help people in poverty, and there are so many organizations, such as Habitat for Humanity and The Hunger Project, that try to aid people when they start to lack the necessities, like food and shelter. College students are graduating college with a large amount of student loans and no way of paying them off, people are being evicted from their homes, and employees are being laid off. The unemployment rate in the United States in 2015 was five percent, that’s about fifteen million people. It’s becoming difficult for people to find jobs, therefore making it hard for people to get back on their feet and start living a comfortable lifestyle. Poverty in the
Surviving in a world where money matters is not easy at all. Try living on less than a dollar and fifty cents a day. Go into a store and look for food enough for three meals that has enough nutrients for a balance diet all under a budget of $1.50. Fresh fruit and vegetables along with meat are out of the question, then what are the options? There really are none except a few canned and dried goods. There are people who live on this on a daily basis. The amount of people who live in poverty are over 1.4 billion and increasing daily. Society has not focused enough on social justice for those in poverty. “The working poor harvest sweet potatoes in time for Thanksgiving. They cut trees in time for Christmas. The fruit of their labor are in our lives every day, yet we rarely see them. Even when we encounter them face-to-face stocking shelves in Wal-Mart or checking us out at the supermarket, we do not see them as whole people, and we surely do not see them as poor. They are hidden in plain sight” (Edwards). People work minimum wage and receive barely enough assistance from the government to help support them. These people work and continue to work to make enough to survive one day at a time. The opportunities for those of low class compared to those in middle or higher levels of class do not match. These classes all receive different benefits, but more importantly those in poverty impact society as a whole.
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].
America is one of the wealthiest nations on earth with having a high inequality than other industrialized country. Inequality exists in income, wealth, power and education. Persons who are legally and socially poor in the United states tend to stay in a cycle through life, not always by choice but because they are given fewer opportunities, education and tools to achieve success. Poverty class has a much larger income gap than the upper class, the American Dream is lessens through opportunity and is shown through statistics.
How can there be so much misery and insecurity in the midst of such abundance? One of the first things we see is that poverty doesn’t exist all by itself. It is simply one end of an overall distribution of income and wealth in society as a whole. Poverty is both a structural aspect of the system and consequence of how the system is organized and how people participate in it.
Poverty is based on the equality of political right. The decades after the Civil War changed the face of the United State. The industrialization of the nation changed us from “a new baby” to the top industrial power in the world. However, this created wide gaps in society between low class and upper class. People called it “the Golden Age”, but it actually was “the Gilded Age” with a thin layer of gold on top. People from outside got blindfolded with the term “American Dream” and immigrated to the United States with hope for a brighter future. Between 1870 and 1900, nearly 12 million immigrants arrived. However, the truth is hurt, they had to work 6 days a week, 10 hours per day with the under wage and working in unsafety condition. There was
This topic can be defined as economic inequality. For many years it has been unavoidable, which has made poverty reduction a primary goal for many. Most times individuals think of poverty as being hungry, naked and homeless but it is said that poverty is more about being unwanted and uncared for. An argument that most Americans take is that those in poverty do not work hard for what they want, however there has been many instances that prove different. Others wonder how poverty still exists with all of the government-aided programs in the world, howe...
Poverty is an undeniable problem in America. In 2014, 14.8 percent of the United States was in poverty (“Hunger and Poverty Fact Sheet”). There are more people in the United States than it seems that do not have their basic necessities. In an
There are two ways to categorize poverty from a sociologist viewpoint. Absolute poverty simply refers to the condition in which one is unable to afford the necessities of life, whereas relative poverty refers to the condition in which one is unable to afford that which is considered a normal standard of living in society. Absolute poverty is far more worse than relative poverty because they could quite possible not have a house or food to live on for everyday survival. There are basically five different categories in which each poverty stricken person can be placed in. The first category are those who are not able to work because they are too old, too young, disabled, or tied down by social responsibility. The second category are those who are able and qualified to work but can not find work. The third category are those who are not equipped to fill available jobs either because they are undereducated or because their skills have become outdated. The fourth category are those whose social and personal problems have brought them to a point of self-defeating discouragement. The last category are those who are underpaid, or unable to get a fair price for what they have to sell. After defining which people are in poverty, these categories can answer my question of why are they in poverty and how they can be helped.
Has anyone ever considered thinking about what the world is really going through? How many people don’t have the necessities in order to survive? If so, what are these people going through? Poverty is the state of one who lacks a standard or socially acceptable amount of money or material possessions. Sometimes events occur that changes a person’s perspective on life. Poverty is one that can have a huge effect on not only one person, but also the people around him/her. Over half of the world is going through this tragedy and we, being the ones who created it, have the responsibility to end it.