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The effects of income inequality essay
Effect of income inequality in us
The effects of income inequality essay
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When you think of the economy, you tend to look at the big picture and the global economy comes to mind. You may think of the stand point of the United States or the current downfall, or even think of the trillion-dollar debt owe. What many people do not realize is their social stand point as a citizen in society. A single individual can make a big difference in their lifetime of what they contribute to the economy. As a resident in United States, I partake in many opportunities as a way to stimulate the economy. At nineteen, I am not making a huge difference, but every little bit I do can make a mark. I attend college through financial aid provided by the TN Promise. I work at Tractor Supply when I am not in school. Once receiving my paycheck, my spending habits stimulate the economy. My dad is a third generation farmer and owns over a hundred acres of land which he and I farm and raise cattle on. He produces profits from their efforts and pay taxes …show more content…
The TN Promise was offered my senior year and I was able to partake in the opportunity. While the TN Promise covered most of my payment, text books were not included. Paying out of pocket for textbooks was a drop in the bucket as to what my semester would have costed without financial aid. Without aid, my semester may have cost almost twenty-six thousand dollars. Where does all this money go? Many colleges and universities use tuition money for things such as, instructors, academic support, research, scholarships, auxiliary enterprises, intuitional support, ect. While financial aid is a life saver for most students, there are many who are unable to receive aid. Those students suffer from the strain of debt due to student loans. The debt due to these loans are impair the economy. A list of other harmful effects follows student loans which trouble the nation more s, such as the stress of saving to buy a home or the start to raise a
A majority of people believe that graduating from college will result in a well-paying job. Unfortunately, a degree will not secure a job for many graduates. In the U.S., the jobless rate for college graduates in 2012 was 7.7 percent, and has further increased in the past five years(Robinson). With such a large pool of unemployed citizens for employers to choose from, recent graduates are facing fewer opportunities for work due to little or no previous work experience(Robinson). Although many graduates are faced with unemployment, the majority do receive the opportunity to work. Sadly, many must work jobs they do not enjoy for salaries that make it difficult to make ends meet(Debate). Students are faced with mortgage-sized debts upon graduation, making it difficult for them to start businesses, buy cars or houses, or make other investments that would better the
America’s future lies in the youth and building an educated youth that is interested in their career would benefit society. Rising college tuition is hurting the higher education of America. As more financial pressure is placed on these kids, the more they aren’t able to focus on their goals and dreams. Although inflation is a problem, the students who are able to graduate will benefit society if they worry more about their job. They should be able to satisfy their duty in society and a rise in college tuition will hinder that vision substantially.
When young adults complete high school they’re encouraged to enroll in a higher education program. With the constant talks of soaring tuition costs, in addition to the massive student loan debt, taking this step can be worrisome. Reyna Gobel, a journalist on financing college education and repaying student debt, states. “It’s easy to stop believing that a college education is worth it when the nation has over a trillion dollars in debt, but college graduates still earn more over a lifetime than those without a degree. Plus, they’re more employable.” More than three-quarters of all college graduates agree that higher education is indeed still worth the cost. Additional education in a field you’re passionate towards
Also the unemployment rate is affected by jobless college graduates, especially seeing how they had a very large debt. Student debt is almost identical to the terms of inflation-adjustment. Data from the Economic Policy Institute shows the solution to all of economy’s problems. This is supported by a research group that argues over the solution of education to all. College graduates suffer from weak growth in the economy. The richest households share a disproportionate amount of growth. In addition, the hourly wage for college is a big topic that is looked at for students. For example the wage has only increased by a small percent and along with a lifted pay gap, which has declined for many. People tend to have a different point of view. For example, living can become a struggle, but you can receive a good job. Some say that college is supposed to be very easy seeing how someone can easily make your way into becoming a person who earns a nice amount of money in their life because they chose to go to college. In addition, people slightly tend to either agree or disagree if they should go to college. This sometimes happened because they didn’t believe that sending their kids to college was worth four years
Kelderman states that ninety percent of high school seniors in the state applied to the tennessee free college program, even students that did not plan on going to college applied (3). There will be so many people taking advantage of their free education that they will be taking three to four classes, that they will not even have time to go out. They will have so much homework and they will be studying half the time. Like they say for every hour they are in class is two hours of studying.Trinko acknowledges that “When I was tempted to skip a class later in college, I’d usually think how much my education was costing -- and go” (1). Some students will be smart and take advantage of the free community college education and some will just blow it
By gaining a higher wage you have the ability to provide and care for your family and self. To me this means that I will be able to provide my children with the ability to gain a higher education and provide a stable healthy environment for them to continue it in. If more individuals would continue educations after high school for better careers with higher wages, this would also change the poverty level and change the lives of children being raised on welfare. Hopefully changing the prospective of young adults on the benefits of gaining a degree will begin to make meaningful change in the outcome of their
I believe that students should not attend college if they are not motivated, or if they intend to pursue a career that does not require a college degree. Not all professions require a person to go to college and earn a degree. For instance, a more physically demanding job, like an electrician, requires skill rather than an actual college degree. People who intend to pursue these occupations should focus on trying to get a job right after graduating high school in order to gain experience. Many believe that a college education will ultimately lead to a higher income, but according to Bird, “there is no real evidence that the higher income of college students is due to college” (376). Since there is no clear correlation between the two, students should not attend college if the only reason they are attending is to earn a higher income. They should not risk taking out a lot of loans, and graduating with a large amount of debt. Overall, I think that college is not a good investment because not everyone needs a college degree for the career they intend to pursue, and investing in college is not worth risking being in debt after taking out large amounts of
According to John T. Harvey, the rise in student loans and debt creates a drag on short-term economic activity and stunts long term economic growth. Currently, the total student debt is over 1 trillion. Graduates continue to emerge from college facing high costs and are entering what is still a poor job market. Many of these graduates will face under or unemployment, and will quickly fall into debt. This debt takes away the next generation’s ability to create demand, resulting in job loss and a stunt in economic growth. Without jobs, more people will fall into debt, creating a cycle that consistently deteriorates the economy. Finally, by denying many bright minds access to an education, the innovations meant to increase economic activity and make the quality of life better never actually happen. Rising tuition costs, which result in student loans and student debt, promise to grate at our economy and
International trade has always been very important to the United States in regards to their economic health. The United States has gotten a lot of imports, mostly from the countries of china and Japan, which supplements the United States’ economy. The United States has imported more goods from other countries more then they exported goods to. The United States recent data regarding imports and exports is that exports made nine percent of the United States’ GDP and 15 percent of GDP is made up of imports. In comparison to other countries, The United States is the leading exporter of products around the world with eleven percent of world exports being taken up by the United States. However, the exports and imports as a percentage of U.S. GDP is low in comparison to Belgium, Korea, Great Britain, and Germany in which these countries have a higher percentage of imports and exports for GDP than the U.S. does.
The world revolves around the idea that a piece of flimsy paper holds value. Those of us who deny that it has any true value, still must face the fact that in order to survive, without resorting to means of stealing and violence, we must learn how to use money. In today 's world people must be able to spend and save smartly in order to develop financial stability. Prices have risen and expenses for college have risen dramatically. In 1990 the minimum wage was $3.80 and college tuition for a four year public institution is $20,972. Meaning that if someone worked twenty-seven hours a week for a year, you could pay your yearly tuition. Today the minimum wage is $7.25 while the college tuition for a four year public institution is $65,928. To pay yearly tuition a person would have to work
By attending college, students guarantees themselves a better job that the average Joe. Because the world is changing rapidly, and many jobs rely on new technology, more jobs require education beyond high school. With a college education, an individual will have more jobs from which to choose. In addition to obtaining a better job, people who go to college usually earn more money than those who do not. College furnishes you with proper credentials and documents to land high-level jobs. Figures from an A&E television program on ‘The Working Class’ show that in 2004 the average earnings were $23,895 for a high school graduate and $41,478 for individuals with a bachelor’s degree. Getting a college education is simply a stepping stone in ensuring yourself with a good start in life. Some may agree that college students are open minded and knows exactly how to expre...
Krugman, P.R. (1987) Is free trade passé? The Journal of Economic Perspectives, 1(2), 131-144. Retrieved from http://dipeco.economia.unimib.it/Persone/Gilli/food%20for%20thinking/simple%20general%20readings%20on%20economics/Is%20Free%20Trade%20Passe.pdf
The macroeconomic environment is a dynamic environment, which could not remain unchanged (Gajewsky 2015). There are many factors influence the global macroeconomic environment, such as interest rate, exchange rate, GDP,aggregate demand, monetary policy and other macroeconomic variable (Oxelheim and Wihlborg 2008). These factors are closely associated with commodity price.
Using 1997 financial crisis and other examples, discuss how globalization is important to the modern business journalism. Introduction
The USA is the leader of the earthly concern economy. It has the largest and strongest economy in the world, because United States has GDP per capita $49,800 (The World Factbook). The USA is an engine of world economy, the reason of changing and permutation of economic situation. The United States of America very strongly influences world economy. Many international and world transactions pass in US dollar. The increase and fall of dollar changes all world economy. All technologies and the newest technicians become and checked in America. Because of this essay will learn about the influence of the USA economy on the world economy. This essay seeks to check the positive and negative impacts of the American economy on the world economy. This research will test the economic factors of the United States economy and inquiries of the questionnaire.