It is shown that the higher level of education the higher level of income. So with the basic stats of entry level education being less, the lack of opportunity based on income and the lack of support for minorities to receive the same educational realities as the white class it stands to reason that this a major component to the disparity in classes and race. In addition to the disparity in class and race there is a disparity to class and gender. Women are paid less than men. The majority of single parent families are supported by women.
Some people are better at physical labour which usually means lower paid jobs rather than those who are academically minded which in our society means higher paid jobs. Finally, some people can gain wealth to inheritance and trust funds, and they have opportunity to build up their wealth through investing, unlike those who start off with nothing. There are two major social disadvantages of inequality. First one being that there is a class division which causes tension between people with different jobs and regions. This can lead to disputes between people, which will in turn bring about an instable society which can lead to an economic disruption.
Many lower class citizens are at or below the poverty line and are have and unavoidable disadvantages and poorer chances to discover life’s possibilities. Regardless of the potential and ambition that a lower class individual could possess, he or she will not be given opportunities to succeed like a higher class individual. People who are considered lower class do not have access to many of the resources like a wealthier societies do. Based on their economic situation, they automatically start behind the eight ball. Wealthier societies have exceptional educational services which include better teachers, utilities, and curriculum, whereas poorer societies just get by on the bare minimum.
According to an article in Slate On, the poor and low income people in our society are more overweight than the wealthy. This psychological behavior transcends to other cultures as well, telling me that people don’t really want equality but superiority. Regardless of the parts of the world you are from, someone always wants to feel superior to someone else. Though Americans did inherit the “wanting more” trait from the frontier opportunities, there were an influx of other nationalities flocking to America for the same opportunities (82). Likewise, they too have adopted the “hunger for more” mentality because they are financially able to adopt the psychological want.
With that being said, while a minimum wage increase may lift some families out of poverty, they push even more families into poverty as employers try to control cost by eliminating jobs, displacing low skilled adults for more productive employees or shaving work schedules. Equally important, raising the minimum wage can have the unintended consequence of actually costing the working poor most of the higher earning accompanying their wage increases. A mandated increase may reduce government assistance programs, such as food stamps, Medicare benefits, housing subsidies and even welfare payments. You can therefore state, as earned incomes rises, public assistance
This inequality within our nation is the culprit behind America’s insignificant health. “Wealthy Americans make considerably more money than their counterparts in other wealthy countries, while the bottom 10% of our households make considerably less than poor people in Europe or Japan” (Page 228). The breach between America’s poor and rich is causing the overall health to lessen. The wealthy American will spend their money on unnecessary items that they will dissipate; “as private wealth become more concentrated, the quality of public life suffers” (228). Researchers have identified an association between household income inequality and mortality rates.
As time progresses, we notice that monetary value has become a main concept in American societies. But should money be the center of our lives? Americans’ admiration for wealth has locked them in a closet of luxury and, as a result, blinded them from their morals and other values in life. In his book, Money and Class in America, Lewis Lapham states that Americans are driven by money and envision it as “the currency of the soul.” Unfortunately, we Americans do validate Lapham's statement by allowing our money to show our success and happiness, therefore granting the rights to show out ignorance. Because of our love for monetary means, Americans tend to flaunt their wealth to quite an extreme, which further proves that we have been “deflected by the pursuit of money,” according to
Individuals are losing jobs and the government have to spend more money of benefits. They collected back less from taxes and VAT. Businesses are cutting back on productions but for some customers is good if they have money because the prices are falling as well as inflation. At the boom stage the GDP (Gross Domestic Product) are the values of
Although many average people are very thankful that the wealthy taxpayers pay more, it is also evident that wealthy taxpayers tend to whine when faced with increased tax brackets. But chances are they received their education at a lot lower price than students today are facing. Chances are that they have secure jobs that allow them to be unaware of the current economy’s hardships. Chances are that they were lucky enough to accumulate their wealth during times when it was much easier to build up their wealth. They happened to be in the right place at the right time.
Low-income individuals and families must spend money on the same necessities required by higher-income people (Meehan). However, after the necessities are purchased, the poorer taxpayers, because they earn less, will have less money left over to pay taxes, at the same rate as those earning higher income amounts (Meehan). Implementing a flat tax system could dismantle the IRS (Meehan). Many view the IRS as an imposing, intimidating arm of government; however, this institution employs numerous people who were trained to work in the tax industry. IRS employees would most likely lose their jobs under a flat tax system (Meehan).