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Causes and effects of poverty in the US
Poverty in America and its effects
Causes and effects of poverty in the US
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Despite the United States being one of the wealthiest countries in the world, there are nearly fifty million Americans who depend on food banks and other resources provided by the government. It is quite depressing to see a person who is impoverished. Raggedy clothes and dirty faces only enlarge the void in the hearts of those who look upon them. Poor people are extremely disadvantaged and bring the entire country down. However, eight men own as much as nearly four billion people combined. Big CEOs of major companies make more than three hundred and eighty times more than their average employee. The pockets of the richest men in the world are more than deep enough for everyone. These circumstances pose the question: why not kill the rich and …show more content…
The individual will have two options: either die a miserable death, or fight to the death in a battle royale, in which one person emerges victorious. If the individual’s net worth is above ten million dollars, they will be added into the roster of people who will be murdered. If the individual so chooses death, then the individual will be tortured and murdered, to symbolize the struggles and sacrifices of the poor. Once the individual is murdered, there will be a collector who will seize said individuals bank account and distribute the wealth amongst the people. If the individual chooses to fight, then the individual will be placed in an arena, where he or she will have to fight the other individuals, rising victorious, sparing them of the …show more content…
The lower and middle class only amount to seven percent of wealth in America, almost nothing compared to the top one percent. The richest one percent take a quarter of the national income made in America. The rich are getting richer, and the poor are getting nothing. The top one percent also own nearly fifty percent of all stocks, bonds, and mutual funds, while the poor own a fraction of a percent of those stocks and bonds. Clearly, there is a problem as to how the income is distributed in the country. So, why don't we “take from the rich and give to the poor”, as a wise man once
The article “As American As Apple Pie” is about, poverty and welfare and how they are looked down upon and treated with suspicion or outright antagonism, and how many associate those in poverty with negative stereotypes often seen as deviant such as homeless, lazy, and criminals. Mark R. Rank points out how poverty across the world is a lot more normal than we think it might be. Some people are at greater risk than others, depending on age, race, gender, family structure, community of residence, education, work skills, and physical disabilities. This article provides the readers with data and analysis of American poverty and welfare over the course of the past 25 years. Rank also talks about how we have framed the poverty issue, and how we should frame it.
Time and time again we hear politicians and office holders preach the need for a powerful middle-class. You may then be surprised to hear that “about 82% of America’s net worth belongs to the top 20%, the next 80% of people only own about 18% of America’s wealth” (UCSC). Some may argue that this disproportion is the beauty of capitalism, the chance to create an empire. I argue that the proportions are simply unfair. Why is it that “ the average CEO makes 350X as much as his/her employee” (UCSC)?
With each class comes a certain level in financial standing, the lower class having the lowest income and the upper class having the highest income. According to Mantsios’ “Class in America” the wealthiest one percent of the American population hold thirty-four percent of the total national wealth and while this is going on nearly thirty-seven million Americans across the nation live in unrelenting poverty (Mantsios 284-6). There is a clear difference in the way that these two groups of people live, one is extreme poverty and the other extremely
Inside of this video, this guy really targets an issue nobody has really been presented. He shows charts that talk about how we Americans think our wealth is distributed. We think distribution is doing alright. Americans think that the bottom 40% is getting a bit of money. They also believe that the middle class is doing reasonably well. Unfortunately, that is not the case. In the video, he breaks it down a little bit getter. He shows a graph that shows how money is actually being distributed. The poorest of poor don 't even register on the poverty line. The middle class is barely making it. And then there is this huge difference between "the rich" and the poor. It is proven that the 1% of America has 40% of the entire nation 's wealth ("Wealth Inequality in America."). The bottom 80% of America only share 7% of the nation 's wealth among themselves. The top 1% has 50% of the stocks, bonds, and mutual funds. The bottom 50% of Americans only own 0.5% ("Wealth Inequality in America."). The poor is not just getting by but they are scraping and fighting to get by. Now that it is clear that there is a lot of poor people in America, it is important to figure out how to fix
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
The highest earning fifth of U.S. families earned 59.1% of all income, while the richest earned 88.9% of all wealth. A big gap between the rich and poor is often associated with low social mobility, which contradicts the American ideal of equal opportunity. Levels of income inequality are higher than they have been in almost a century, the top one percent has a share of the national income of over 20 percent (Wilhelm). There are a variety of factors that influence income inequality, a few of which will be discussed in this paper. Rising income inequality is caused by differences in life expectancy, rapidly increases in the incomes of the top 5 percent, social trends, and shifts in the global economy.
In the United States there are four social classes : the upper class, the middle class, the working class, and the lower class. Of these four classes the most inequality exists between the upper class and the lower class. This inequality can be seen in the incomes that the two classes earn. During the period 1979 through the present , the growth in income has disproportionately grown.The bottom sixty percent of the US population actually saw their real income decrease in 1990 dollars. The next 20% saw medium gains. The top twenty percent saw their income increase 18%. The wealthiest one percent saw their incomes rise drastically over 80%. As reported in the 1997 Center on Budget's analysis , the wealthiest one percent of Americans ( 2.6 million people) received as much after-tax income in 1994 as the bottom 35 percent of the population combined (88 million people). But in 1977 the bottom 35 percent had about twice as much after tax income as the top one percent. These statistics further show the disproportional income growth among the social classes. The gr...
Between the end of World War II and the late 1970s, income inequality in the U.S. was reduced; but since 1970s, the situation with wealth distribution has changed. Data from tax returns in 1976 show that the top 1 percent of households received 8.9 percent of all pre-tax income. In 2008, the top 1 percent’s share had more than doubled to 21.0 percent.
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
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.
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.
Income inequality continues to increase in today’s world, especially in the United States. Income inequality means the unequal distribution between individuals’ assets, wealth, or income. In the Twilight of the Elites, Christopher Hayes, a liberal journalist, states the inequality gap between the rich and the poor are increasing widening, and there need to have things done - tax the rich, provide better education - in order to shortening the inequality gap. America is a meritocratic country, which means that everybody has equal opportunity to be successful regardless of their class privileges or wealth. However, equality of opportunity does not equal equality of outcomes. People are having more opportunities to find a better job, but their incomes are a lot less compared to the top ten percent rich people. In this way, the poor people will never climb up the ladder to high status and become millionaires. Therefore, the government needs to increase all the tax rates on rich people in order to reduce income inequality.
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