The Social Solutions of Wealth and Poverty The evidence of this economic inequality is ubiquitously. Income and wealth is an essential part in supporting basic physical and mental health, however, it is distributed unequally throughout the globe creating wealth and poverty stricken social classes. There are solutions available in diminishing and preventing the wealth and poverty inequality. The vast amounts of prosperity can be distributed equally between the different social classes and poverty can be reduced, if not complete eradicated. Problem-solving with different political ideologies can prevent an increase in the lack of fiscal means. The economy in the United States is unequal and unfair, though solutions are accessible to create financial fairness and equality. The upper social class contains the richest communities. Wealth clearly has its benefits such as financial freedom, fulfilling wants without second thoughts, and it improves overall quality of life. However, there are several known problems associated with being wealthy. Money tends to be used as a cover up and distracts …show more content…
Conservatives consider the most effective way to prevent poverty happens within the communities. Educating children to value personal responsibility and hard work, in time, will lower high school dropout rates and lead to higher educations and diplomas to get good jobs. The liberals of the United States claim that actively enforcing laws banning discrimination in education and the workplace will prevent poverty. No one person will be singled out for not meeting criteria which will prevent the person from dropping out of school or quitting their job. Radicals believe that replacing capitalism with a more humane economic system will solve poverty. In theory, the new system would greatly reduce economic inequality and provide for a more equal economy throughout the
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.
Wealth inequality did not always exist in human life. In fact, “Human life have not only been changed, but revolutionized, within the past hundred years” (Carnegie 1). There used to be
America in today's society is burdened with many economic and political problems that have begun to plague the nation. Controversial topics are constantly being debated from sunrise to sunset across the country with supporters and those who oppose each bearing various levels of financial and political misfortune. With the numerous economic and political problems that affect the nation, the argument over the issue of income inequality is one of the most notable. Creating a political civil war, proponents from both sides have brought the issue into national view and debate has grown substantially within recent years.
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.
Income inequality not only harms us fiscally, but also affects our mental and physical wellbeing; therefore, it is important to identify the right ways to control wealth distribution among people.
The upper class is separated by two different distinctions, the upper-upper or the “old money” and the lower-upper or the “new money.” The upper class represents about 5% of the total population. The populations tend to be somewhat older, mostly white, highly educated, with income significantly above the state average. People living within the upper class usually live in expensive neighborhoods, have high prestige and belong to the same clubs and organizations. Their children normally attend private school. The women within the upper class are usually in charge of hosting entertainments at home for guests and often do volunteer work. The men within the upper class are also more active in community service organizations. These families live in large houses on large p...
Income inequality has affected American citizens ever since the American Dream came to existence. The American Dream is centered around the concept of working hard and earning enough money to support a family, own a home, send children to college, and invest for retirement. Economic gains in income are one of the only possible ways to achieve enough wealth to fulfill the dream. Unfortunately, many people cannot achieve this dream due to low income. Income inequality refers to the uneven distribution of income and wealth between the social classes of American citizens. The United States has often experienced a rise in inequality as the rich become richer and the poor become poorer, increasing the unstable gap between the two classes. The income gap in America has been increasing steadily since the late 1970’s, and has now reached historic highs not seen since the 1920’s (Desilver). UC Berkeley economics professor, Emmanuel Saez conducted extensive research on past and present income inequality statistics and published them in his report “Striking it Richer.” Saez claims that changes in technology, tax policies, labor unions, corporate benefits, and social norms have caused income inequality. He stands to advocate a change in American economic policies that will help close this inequality gap and considers institutional and tax reforms that should be developed to counter it. Although Saez’s provides legitimate causes of income inequality, I highly disagree with the thought of making changes to end income inequality. In any diverse economic environment, income inequality will exist due to the rise of some economically successful people and the further development of factors that push people into poverty. I believe income inequality e...
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
Many people do not realize that there are tens of millions of people in America who are living in poverty because they are stuck on the fact that America is one of the richest nations. People who are living in poverty barely have enough money to survive on basic necessities like food, shelter and electricity. They often have a hectic schedule filled with work, school, or other activities that they have to do in order for them to live a somewhat stable life. Unfortunately, there are others who are living in poverty that may be ill or disabled and barely able to survive even if they are receiving money to help with their situation. There are a few programs that help those in poverty with their financial problems, but they only help them to a certain extent. Changes need to be done to help alleviate the poverty rate because these people should not have to deal with all of these hardships or have such a negative perspective of life. Therefore, America can reduce its poverty by raising the minimum wage, making health care more accessible, and by making child care more affordable. These solutions will be a great start to reducing poverty and they will lead America into a brighter future.
Throughout American history, wealth inequality has taken many different forms, and has affected many people and groups in different ways. In the following analysis, two measures of 'wealth inequalities' will be used. First is a more traditional view, regarding the distribution of income and wealth among the upper to lower classes. The size of the gap has varied over time, widening and compressing throughout American history. While America has been thought of as a middle class nation, this is a fairly recent phenomena that began after World War II. In this context of today, this idea appears to be fading as wealth is becoming more concentrated towards the upper classes. Additionally, these effects of both the concentration and equalization of income distribution can differently affect groups of people.
The unequal distribution of wealth is seen as a negative and ongoing problem and debate within American politics and society. There is a great deal of evidence to back up why wealth distribution is damaging the American ideals of life. It also carries inevitable and undetermined consequences for our nation. How resources are distributed within a country depends on where the resources were found. For example, numerous people will move to an area that is rich with resources in order in ensure job security. Just because a country is fruitful in a resource does not mean that that particular country is wealthy. In fact, the laborers are paid very minimal...
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.
Wealth inequality is the uneven distribution of resources in a given state or population, which can also be called the wealth gap. The sum of one’s total assets excluding the liabilities equates the person’s wealth also known as the net worth. Investments, residents, cash, real estates and everything owned by an individual are their assets.In reality, the United States is among the richest countries in the world, though a few people creating a major gap between the richest, the middle class and the poor control most of its wealth. For more than a quarter of a century, only the rich American families have shown an increase to their net worth.Thisis a worrying fact for the less fortunate in the country and calls for assessment (Baranoff, 2015).
Social issues are problems in the society today that are described as wrong, widespread and changeable. A category of conditions that people believe need to be changed. Poverty is a serious social issue in the society today. According to Peilin (2012), poverty brings hardships to families and individuals as well as political thereby negatively affecting the social stability and social development and posing a severe threat to human security (p. 243). This paper focuses on poverty as a social issue in today’s society. First, it gives a succinct introduction of the social issue, and then describes how it fits into the field of sociology. It also evaluates the sociological theories and terminology that relate to the social issue. The section that follows evaluates what is known and unknown about the particular social issue. This is followed by a discussion regarding the value of sociological research into the issue determining the available or possible practical implications of the sociological inquiry. The information presented here is strongly supported by the concepts and theories derived from reliable sources.
Poverty is an issue which the world faces everyday. It is a constant struggle that cannot be ignored anymore. As you can see defeating poverty would take great efforts and contributions from all. We must better educate the youth and have education available for everyone all over the world. We also need to ensure that everyone has a job and that they are properly skilled for the job. People need to realize that poverty affects everyone, not only the poor and uneducated. Our world would be a much better place if everyone pitched in to help defeat a major problem around the world, poverty.