The Evident And Growing Wealth Gap In The Us

1710 words - 7 pages

What seems to go unnoticed by many Americans is the evident and growing wealth gap. According to Pew Research Center, the current U.S. income is at its highest since 1928. This large dispersion of wealth can be attributed by the “fall [of the] routine producers” (Reich). Where jobs that were once attainable during the 70s are declining due to advancing technology and corporations finding workers in poor countries who are willing to work at half the cost of the routine producers. What also drives this wealth gap is the power of corporations in an age of extravagant consumerism. Through media, the demand to buy what we want is unavoidable. Corporations are able to gain revenue while people go unemployed because of America’s vast opportunities to buy what we want when we want it.
Adding to this is the notion that the “richer are getting richer and the poor, poorer.” (Reich). When the income of the middle and lower class is either the same or shrinking while the income of the upper class is improving, the wealth gap is evident (Scott). What illustrates this is that today the 10% of richest Americans hold 40% of all the wealth in the U.S. (Scott). Another aspect of the wealthiest staying wealthy is the ability to pass down their wealth; otherwise known as inheritance. Even with estate taxes, the wealthy still manage to find loopholes where they don’t have to pay as much, or even at all. In other words, “lower income people pay a greater share of their income sales and payroll taxes than higher-income people” (Henchman). In America, the wealthy are being favored while everyone else has to pay.
While hard to believe, education and inheritance may play a role in the increasing wealth gap in the U.S.; along with the government’s floundering role via the attitude towards corporations and capitalism’s regressing impact on America’s economy. From the fall of routine producers and the stagnating-to-slowly-falling in-person servers, to the rich passing down wealth for generations, to treating corporations as an individual person instead of single people put together, to capitalism not being what it once was. All of this keeps the wedge driven between the rich and the poor. What can keep our morale but keep everyone afloat is to adjust for the lower and middle to rise up and stay up.
Higher education is in demand for America’s current workforce. Pew Research Center’s article “The Rising Cost of Not Going to College” demonstrates the preference for college graduates by: the wage gaps where college graduates earn around $17,500 more than high school diploma holders as well as the unemployment rate where only 3.8% of college graduates are unemployed while 12.2% of high school diploma holders are unemployed. Essentially, this highlights the different boats in Reich’s paper “Why the Rich are getting richer and the Poor, poorer” because the “symbolic analysts” are represented by the college graduates and everybody else as the “routine producers” and “in-person...

Find Another Essay On The Evident and Growing Wealth Gap in the US

Comparing the Different Types of Love Evident in Romeo and Juliet

529 words - 2 pages in his Queen Mabstory. Queen Mab, an English folk tale fairy was said to bring the dreams tomen and her child is the midwife to men's fantasies. Mercutio wants just thephysical part of love, that is, sex. This is evident in his queen mab story:"O, then, I see Queen Mab hath been with you.She is a fairie's midwife, and she comesIn shape no bigger than an agate-stoneOn the fore-finger of an alderman,Drawn with a team of little atomiesOver men's

Fear In the Damp and Dark Gap

1250 words - 5 pages gap, the place of the Other, Kael is netted, drugged and enslaved. His oppressor appears to him as a man with "blue eyes and golden hair." His oppressor describes and codifies Kael as well as telling kael how he will be treated and what he hopes Kael will become. He tells Kael all this in a language that does not belong to Kael. said,'l hope you will even be happy with us.'" Keel and the man develop a symbiotic relationship in

Wealth in The Greath Gatsby

1109 words - 4 pages wealthy, but even so there are those few that are quiet happy not being rich. Within the great Gatsby wealth is represented as a want, everyone wants wealth and if you’re not wealthy you’re not going to have friends, all of these things are extremely evident without the great Gatsby and are represented many times within this book. (INSERT WORDS HERE) “In The Great Gatsby, money makes the world go 'round—or at least gets you moving in the right

Wealth Management in the U.K

2328 words - 9 pages Introduction This report covers several topic areas in wealth management such as what it seeks to achieve, how a wealth management firm is authorised, who may use this service, the alternative options for a client and the macro-economic environment and legislative influences. Wealth management Wealth management is a practice that best describes the combination of personal investment management, finance advice, and financial planning for

Wealth and the Medieval Individual

2328 words - 10 pages their garments, styling and size. I will look into each of these works to show how wealth and nobility played the main role in memorializing medieval individuals. Not all works approached expressing individuality through the same practices or techniques, but each work does make an effort to have some identifying characteristic that sets it apart as a particular and recognizable individual. The most common ways of expressing individuality without

The Construction and Repletion of Gap in "The Ultimate Safari"

2678 words - 11 pages connects or separates them (341). In this respect, the young daughter's treatment is that of a subject while the mother executes the role of an object. The separation is brought about by the mother's unknown departure while the sense of waiting intensifies the parting and mystifies the story with suspense. Buddhism acknowledges this gap thus in Luk's indication: "All of us are accustomed to the deep rooted habit of splitting our undivided whole into

The Role of Logotherapy and the Existential Gap in Addiction

1479 words - 6 pages observing his surroundings it is clear he is not indulging in his addiction, but rather appreciating the world around him. Thus, through logotherapy, he has filled the existential gap and begins his progression towards completely recovering from his suffering. Conclusion After careful examination of previous research, it is evident that despite the lack of an empirical measurement scale to numerically judge effectiveness, logotherapy is

Black Wealth/ White Wealth and The Social Stratification Theory

1457 words - 6 pages Through an analysis of private equity in America, the book Black Wealth/White Wealth published in 1997 by Melvin Oliver and Thomas Shapiro depicts the often-unseen differences in accumulated wealth between whites and blacks. Through their research, Oliver and Shapiro found that the racial disparity of accumulated wealth explains why a large majority of blacks have been unable to rise from the bottom of the social structure. Looking back 52 years

The Gender Gap in Society

777 words - 3 pages The Gender Gap in Society When a girl falls down, her parents immediately give their hands. However, when a boy does, his parents expect he rises for himself without their help unless he is very little and weak. Despite most parents' saying that they do not want their children to behave and think in stereotypical ways, they treat their children differently based on the child's gender. Since initial gender roles are assumed during

The Education and Healthcare Gap

1843 words - 7 pages minorities. This paper will first touch on two other types of inequality: civic and income. Then it will move into how healthcare and education play an important role in this growing inequality, and finally address the broader implication of socioeconomic inequality and ultimately why these issues matter. Despite increased legal equality, there has been a significant increase in both civic and income inequality. Robert Putnam, in his

The Generation Gap in William Shakespeare's Romeo and Juliet

2161 words - 9 pages The Generation Gap in William Shakespeare's Romeo and Juliet An example of the language Shakespeare uses to prove the generation gap between the characters, is this line from the play said by Juliet, 'Is there no pity sitting in the clouds, that sees into the bottom of my grief?' This shows well how Capulet and Lady Capulet don't understand their daughter's grief at the time and don't understand her wish not to marry

Similar Essays

Income Inequality In The Us Is Growing

623 words - 3 pages Stiglitz explains the high level of inequality due to the fact that the top US income earners captured a majority of the income growth, widening the gap between them and the low-income earners. This income can be explained through the Heckscher-Ohlin model. The trade between US and poorer global economies causes more of a specialization in what the US is relatively endowed in, capital or skilled workers. This increases the production in capital

Wealth Inequality In The Us With Sociological Viewpoints

1458 words - 6 pages . 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]. The question

Poverty And Wealth In The World

900 words - 4 pages Jesus had a lot to teach about poverty and wealth. Rich people were seen as being rewarded for hard work by God where as poor people were seen as to be punished by God for their sins. Because of this, poor people were not treated equally and were seen as being not half as important as rich people. Jesus would often come across someone rich and would see the way in which they treated a poor person. He said that a rich person should share all of

The Odyssey Essay: Greek Culture And Life As Evident In The Odyssey

1270 words - 5 pages The Odyssey Essay: Greek Culture and Life as Evident in The Odyssey.During the Dark Ages (1200 - 800 B.C.), the art of writing was uncared for and lost. Furthermore, during this age the population of the world had declined, along with the wealth of individuals. It is during that time period, however, that Homer composed The Odyssey. Although written during the Dark Ages, Homer writes about the Late Bronze Age (1600 - 1200 B.C.) when life was