The Widening Of The Wealth Gaps
As our economy grows and becomes more productive as well as more prosperous, it is evident that the profits only benefit a few people. The middle and lower classes seem to be the victims in America’s magnifying wealth-gap. Wealth is the abidance of valuable possessions as well as of money. The wealth-gap is the difference in income and prosperity between the rich and the poor. Our wealth-gap widens due to taxation differences, investment differences in stocks and bonds, and the unfair job opportunities in the manufacturing trade industry.
A person is considered wealthy when their income is substantially larger than that of the average person in their community. Society encourages ...
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social and political importance can give them the same wealth available to the excessively wealthy. The middle class are those whose income is substantially lower than that of the upper class. They make enough for all their needs such as rent, food, clothing,bills, and extras such as forms of transpiration and communication. However do not have enough for the luxuries that the wealthy have. The lower class is referred to as the poverty-stricken class. Galbrith says,” People are poverty-stricken when their income, even adequate for survial,falls radically behind that of their community”(241). The lower class receives no more than the minimum wage, and even though they do make enough to survive, their income does not provide them with, as stated Galbraith, “what the larger community regards as the minimum necessary for decency” (241).
As the wealth-gap widens, it allows some people, mainly the wealthy, to prosper far more than the middle and lower person. Cohen states: “..the ...
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a considerable difference especially as the company in question grows. However, those employees who received “free money” do not have to pay the taxes for that bonus. You could say that the workers pay the taxes that the companies avoid. Another way they become exempt from paying some of their taxes is by reporting losses in the company. The middle and lower classes cannot avoid their tax. They have no choice but to pay them, and in cases such as this pay them twice. Once for themselves, and again for the company. Their income is not great to begin with, and it shrinks considerably after taxes. They may improve their economic situation slightly, but at the rate that the economy ...
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The Widening Of The Wealth Gaps. (2005, June 5). Retrieved April 25, 2024, from http://www.essayworld.com/essays/The-Widening-Of-The-Wealth-Gaps/27999
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"The Widening Of The Wealth Gaps." Essayworld.com. June 5, 2005. Accessed April 25, 2024. http://www.essayworld.com/essays/The-Widening-Of-The-Wealth-Gaps/27999.
"The Widening Of The Wealth Gaps." Essayworld.com. June 5, 2005. Accessed April 25, 2024. http://www.essayworld.com/essays/The-Widening-Of-The-Wealth-Gaps/27999.
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