The gap between the rich and poor that has continuously increased throughout the decades makes it even more challenging for an individual to jump from the poor class to the rich. The rich, receiving large tax breaks, stay rich. This leaves the Americans in the poor class to carry the burden of the heavier taxes, leaving them in the same class with little to no hope of becoming rich and obtaining the American dream. In addition, delaying and denying citizenship to immigrants hinders their ability to obtain wealth and the American dream. Low wages also decreases the ability for many Americans to gain a higher education, decreasing the likelihood they will receive high wages and the American dream.
Job loss, homes in foreclosure, and the people who still have jobs would be living from paycheck to paycheck. If manufacturing were to halt nationwide, nearly everyone would feel the financial strain, even the ones who do not feel it now. Manufacturing companies stores would have a decrease in the products they supply, and the products still available would be much more expensive. Closing the borders to international trade will cause financial strain and job losses in the manufacturing sector. If the... ... middle of paper ... ...arriers America would see an increase in profit by another fifty percent (United “Economy”).
“The fact that tens of millions of workers will still be trapped in low-wage hell while a sliver of Americans live better than the kings of old will seem like a minor detail.” (David Callahan) Hard working individuals are treated unequally in retrospect to the little amount of income they receive compared to the 1% community and the limited amount of work they need to complete to be considered the 1%. Income inequality causes big businesses... ... middle of paper ... ...dangerous level, and the government has turned a blind eye to this issue. The government should step in and do more to fix this issue because income inequality is causing controversy and discrimination between the 1% of wealthy individuals and the not so much, poorer less fortunate 99% of America 's working class citizens. With income inequality on the rise, it is slowly but surely killing our country from the inside out. It is causing the middle class to slowly dissipate into a false reality with endless hope for recovery and modification.
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. The article Vanishing Jobs says, “Nationally, layoffs are eliminating jobs far beyond blue-collar workers... in the ever shrinking manufacturing sector” (Katel). This quote interprets the idea that business will do anything to make a greater profit through cutting costs. Most politicians say that the issue behind job loss in the United States is because of lack of education. This to some point is true; however, the evidence provides the information to conclude that the degree holders are mostly the ones losing their jobs because of the higher wage that is obtained by the degre... ... middle of paper ... ...ect on the college graduates and younger children of today.
were the causes of the crash because America had many more influences than government not intervening and they were involved with a lot of things and people and would come out on the other side biting more than they could chew during the depression. Inequality was a big problem in America and the workers were always at the bottom of the pecking order when it came to wealth. Economies that are doing well are economies that have even distribution of wealth amongst its people. However, this wasn’t the case in America during the seven fat years. Industrialists dominated the economy during the twenties.
The reasons as to this present inequality are tied to the functions of capitalism. Globalization has resulted in large masses of people who are competing for jobs and the result is businesses will hire individuals at low pay rates/ low benefits (Standing 5). Globalization has also resulted in many businesses outsourcing their employees and production to international countries with little to no infrastructure to protect the rights of workers and the rights to resources. Countries that do not have the legislature in place to facilitate fair treatment are the most abused and experience higher economic inequality rates. The theory of Trickle-down Economics does not apply in these countries because what financial assets do go into these countries usually remain at the top of the social ladder (Diaz).