King also addresses that inequality is the main problem according to many; the government is only making the rich minority wealthier, ignoring funds for the lowers classes. The American Dream will never die as long as planning ahead and proposing policies to sustain economic growth are tirelessly acted upon. Edward McClelland focuses his essay RIP, the Middle Class: 1946-2013 on how the middle class is no longer able to thrive if the actions of the government continue – or their nonexistent
Many immigrants move to America in hopes of achieving the American dream. Reluctance to grant citizenship to those who work hard in our country make it difficult for in these individuals to gain wealth. In the twentieth century the economy was flourishing, making it easier for people to get jobs; nowadays, in a recession, it is hard to find a job that pays well without a higher education. All of these factors make it harder for one to achieve the American Dream. The richest people of America continuously receive the largest tax breaks.
This form of modern slavery means the underprivileged families cannot compete favorably with the elite families for the limited economic and social opportunities. Like the proletariat of the 19th century, the modern low-income American families lack capital, land and adequate entrepreneurial skills to start their businesses. As a result, most of these bottom 25% of the income distribution are always willing to accept the low paying jobs. Whereas the chief executive officers, managing directors and major shareholders create policies that allow them to gain lucrative compensation packages, dividends and other profit shares.
Class standing directly affects economic success in America by limiting a person’s chance of success however; one can overcome by focusing more upon education and culture. People from lower classes try to achieve success but tend to struggle depending upon their foundation. The problem that people don’t want see is that we all want to become successful, and have the capability to do so but are just restricted by the lack of income. Gregory Mantsios advocates more on the struggle to proceed from one class to another in his essay-“Class in America”. Mantsios states that, “Class standing has a significant impact on our chances for survival.... ... middle of paper ... ... that they affect one another.
In the southern United States segregation was another restriction which caused blacks to be more impoverished. In the current times the access to higher education and loans to start and sustain businesses own by blacks are the biggest inequality that hampers their efforts towards the contribution to the economy. In conclusion capitalism no matter in what form it may be in has its winners and losers. Capitalism has been deemed progressive and highly successful in most countries. The key for a democratic country is the type of capitalistic principle the nation implements towards economic success.
In order for us to develop as an economy, people need to work harder. These people feel that the government is hiding secrets from them and that private companies are earning most of the country's money, the money they think is theirs. Without hard work, the hard luck they believe that they are cursed with can never be prevailed over. I think the opinions of people like you two men, are god's proof of ignorance. I know that you Fox, a millionaire who earned his money on the expense of others, are a part of the 1% of the population that is benefiting from capitalism.
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 both 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 lives of the rich people. The inequality does not mean that it is unfair that the majority of the population
However, India has a social caste system. The caste system determines what social class one is born into, and that person has to stay in that social class for their entire life. Therefore, the economy of that country would be better, but it would only help the rich get richer and politicians have a stronger effect on the poorer classes. JOBS Job growth is at an all-time low, and it is because of the pay that Americans have to have in order to survive in the United States. The largest companies in the United States are finding that there are workers that are just as qualified in other countries that do not require as much pay.
This identity is often easily defined by economic standing or material wealth. But it can’t be that easy. As R. Todd Erkel seems to imply in his essay, "The Mighty Wedge of Class," which explores his working-class background, "class" is largely a construction of environment, while money factors little. But does it? Careful analysis of his essay shows that, although the cultural environment of a class, particularly the influence of parents and education, are important factors in determining one’s class, it is clear that money essentially determines and ultimately defines one’s class status in American society.
Inequality in America I believe that there is too much wealth and income inequality in the United States today. The upper classes have most of the power in the nation and use their influence and wealth to convert the United States income into benefiting their well being and financial stability. In the last fifteen years, the income of the upper classes has risen while the income of the lower classes has generally lowered, further showing the inequality that exists in our nation. It is usually difficult for the lower classes to achieve financial success because a high income job requires good education which the lower classes lacks because they cannot afford it. In the United States there are four social classes : the upper class, the middle class, the working class, and the lower class.