Money can buy the wealthy any material item they may want in the world, but is being rich all that it adds up to be? If a people do not like their looks, they can pay to have the surgery done that can change them. If they want to go out and buy a new car, or new vacation house they could without any problems. Peck, Don, Don and Ross proved this with their study result that showed “Americans have become more materialistic over the past three decades”. People’s wealth status typically depends on their social status. Social standing is a huge key component to having healthy relationships. Social standing often depends on wealth status, allowing a person a higher, more privileged lifestyle. When people are financially stable, their friends tend to be all entirely wealthy, Causing wealthy people a tougher time creating real friendships because everybody wants to be their friend just because they have money. …show more content…
It also takes a toll on a people physical health from lack of nutrients, fear of spending hard earned cash for needs, and over working oneself to exhaustion, forcing the whole family into jeopardy. “How can you transform the money you work so hard to earn into something approaching the good life?’ (Futrelle) When individuals become over worked they become stressed, and do not get their job done correctly. They are so worried about working that they miss out on important events throughout their life. One may have a “five-bedroom home, and a fat 401(k), but still not be happy, and wish for more work hours”.
A well-known expression is that money can’t buy happiness, yet people fantasize of winning the lottery, living in their dream house, and possessing enough tangible objects to feel satisfied with their lives. Most are under the preconceived notion that the absence of wealth and power translates to hardship and despair. This, however, is not the case, because a self-effacing lifestyle is not an indication of a lower quality of life, and often is better than one of great fortune. People yearn to have the financial independence and capabilities of those in higher ranking positions, and are willing to abandon their morals and own personal well-being if it means being successful. It seems that by reaching a level of wealth in which money is no longer
David J Lynch says that, “ [s]ocieties that manage a narrower gap between rich and poor enjoy longer economic expansions”, however, in the United States the gap between the have and have-nots has widened (source C). “This country is just getting worse and worse and worse … and that is not a recipe for stable growth” (source C). If we do not do something soon our capitalist country will fall. In order for the income inequality gap to lessen to create a more stable economy the government must invest in education and unionize workers and not provide higher taxation for the top one percent.
Sklar, Holly. “The Growing Gulf Between the Rich and the Rest of Us”. They Say I Say. Gerald Graff, Cathy Birkenstein, Russel Durst. New York: W. W. Norton & Company, 2009. Print.
The article “High Incomes Don’t Bring You Happiness” verbatimly states, “Beyond $75,000, money is important for life evaluation, but does nothing for happiness, enjoyment, sadness, or stress” (Kenney 4). Those who spend prodigal amounts of money disdain plebeians because they claim that money is the foundation to living a great life. However, money only helps one meet certain needs and does not contribute in instigating true happiness within oneself. Happiness comes naturally by one’s actions and accomplishments. Although, money helps buy the commodities which satisfy one’s life, it is not the direct source for obtaining glee within a
Have you ever felt like you are spending too much money at a time, on pointless items? Statistics show that American’s consumption rate of goods has increased by forty-five percent in the last twenty years (Statistics-Consumption/quality of life pg. 194). Americans are experiencing a thing that is many times known as “Affluenza”, this is when someone buys more items, such as clothes, cars, houses, or any unnecessary items. Many people talk about this so-called “Affluenza”, like it is a medical term. The word Affluenza is pretty much saying that people make money and work hard for their money and they like to buy nice things, because they can and they have the money to. They are fortunate enough to be able to have these nice things for themselves because they work so hard for it. Many Americans are not satisfied with their positions because of false ads, selfishness, and jealousy. Some celebrities, some of the wealthiest people on the planet have committed suicide because they are not happy with what they have and they feel like they need more items, when really they have everything they need to be happy, but they suffer from Affluenza and make these bad decisions.
Wealth inequality and income inequality are often mistaken as the same thing. Income inequality is the difference of yearly salary throughout the population.1 Wealth inequality is the difference of all assets within a population.2 The United States has a high degree of wealth distribution between rich and poor than any other majorly developed nation.3
Being in America, a society encompassed by those of a wealthy nature versus those striving to obtain as much wealth as they can in their own limitations, it seems inevitable for one to pass judgment on those who choose the glamorous lifestyle over any morals they may have had prior to their riches. After reading Money and Class in America, it can be concluded that Mr. Lewis Lapham makes an intriguing point as he states that it is seemingly unintelligent to assume that one that is wealthy in pocket is also wealthy in intelligence. Everyday, greed filled Americans prove this judgment to be blatantly wrong, as they partake in the extravagant lifestyle without much thought in the immorality that comes with the lifestyle. Though some may say that
As a society that lives in a culture of abundance and opportunity, we are always sensing that the next big break lies just over the horizon with the next job or notable achievement. David Brooks, editorialist for the New York Times, sees America as a nation obsessed and admiring of the rich and famous. He ingeniously discloses that, “None of us is really poor; we're just pre-rich”.
How does one earn the title of wealthy? Authors Dr. Thomas J. Stanley and Dr. William D. Danko have studied how people become wealthy for over twenty years. They have conducted research, written books, conducted seminars, and advised major corporations on whom the wealthy are and what are the characteristics of the affluent in America. The research for The Millionaire Next Door was comprised of personal, as well as focus group interviews, with more than 500 millionaires. A survey of 1,115 high net worth and/ or high income respondents was also compiled. The authors define the threshold for being wealthy as having a net worth of $1 million or more. This is one distinction that the authors make in comparison to what most Americans might perceive is the definition of wealth. As opposed to what most Americans in our society believe, a measure of an individual’s material possessions does not necessarily equate to being wealthy. According to the authors, wealth is what you accumulate and not what you spend. Based on the author’s definition of wealth, only 3.5% of American households meet their criteria for status as a millionaire. Of this small percentage, 95% of millionaires have a net worth between $1 million and $10 million. The authors chose to focus on this segment of millionaires because this level of wealth can be attained in one generation and by many Americans.
Wealth inequality is a real issue that needs to be fixed. The imbalanced growth of the upper class compared to the middle class is a danger to American society as a whole. The rich becoming richer while the middle class remains the same leads to a power imbalance, with the rich using their money to run the country the way they see fit while the middle class speaks to ears that do not listen. The issue of wealth inequality needs to be fixed by raising taxes on the rich.
What is wealth inequality? “It is the difference between individuals or populations in the distribution of assets, wealth or income.” [1] In sociology, the term is social stratification and refers to “a system of structured social inequality” [2] where the inequality might be in power, resources, social standing/class or perceived worth. In the US, where a class system exist, (as opposed to caste or estate system) your place in the class system can be determined by your personal achievements. However, the economic and social class that an individual is born into is a big indicator of the class they will end up in as an adult. [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.
Everyone has his or her own ideas of how wealth should be distributed properly. Some people believe wealth should be left to family, left for public services, or become the property of others. Others believe that people should not have excess wealth, resulting in non-existent class distinctions. An alternative view is that wealth is not distributed; instead, the wealthy continue to grow wealthier while those in poverty can not escape it and fall further into a life of poverty. The beliefs discussed above come from three different writers. Those writers include Andrew Carnegie, Karl Marx, and Robert B. Reich. These writers all have different opinions on how wealth should be distributed properly.
... Although it may not seem fair that there are rich people blowing money on impractical and meaningless things while living in poverty, it’s a reality that the United States has experienced for centuries. Works Cited Desilver, Drew. A. “U. S. Income Inequality, On The Rise.” Pew Research Center.
Individuals may feel very happy and demonstrate gratitude and graciousness within the wealthy lifestyle, expressing their humility by giving back to the community. Very frequent in this schematic are feelings that there is ‘not enough’ which fuels a constant comparison with others and feelings of competition. Such individuals will experience this psychological paradigm rooted in feelings of low self-esteem, self-worth, and insecurity. This is the basis of most Western societies very ingrained with consumerism, where individuals feel as though they must ‘consume’ something including food, items, and work an extravagant number of work hours to ‘keep up with the neighbours’.
Acquiring things like houses and cars only has a transient effect on happiness. People’s desires for material possessions crank up at the same, or greater rate, than their salaries. Again, this means that despite considerably more luxurious possessions, people end up no happier. There’s even evidence that materialism makes us less happy. People don’t shift to enjoyable activities when they are rich.... ...