Jeff Doyle Sundol WRC 1013-11 1 Nov. 2010 Are Poor Americans Actually Poor? The number of Americans in poverty today is rather shocking. There are currently thirty-seven million Americans who are classified as being "in poverty" (Rector 2). Many Americans are classified below the line of poverty, but in retrospect to the rest of the world, Americans seem far from poor. America is considered to be upon the most prominent and successful nations in the world; so, why is over a tenth of our population deemed as "poor" by our government?
There were about 8,000 filers who reported gross incomes of more than $10 million. Thus, under Obama’s proposed Buffet Rule, about a quarter of a million millionaires would pay higher taxes. The marginal tax rate is the percentage paid on gross income. A wealthy tax filer pays the size of their income that is taxed at the top 35 percent rate. Middle-class taxpayers generally pay marginal rates of 15 percent or 25 percent.
The LFS limits the accuracy of the calculation of the unemployment rate because it results in the issue of “underemployment” or “underutilisation” meaning that people are able and willing to work more hours, however are unable to do so due to the lack of demand from firms for workers to work additional hours. 4) Suppose a firm decides to pay its employees “efficiency wages” that are much higher than in other comparable firms. What may be the reasons for this and
Productivity, as measured by the output per hour by the business sector, grew at a lower rate during the Reagan years than the 7 years prior. The growth rate of 1.3% during Reagan’s tenure was .2% higher than the 6 years afterwards, but .3% lower than the years preceding (Niskanen & Moore 1996). Inflation is an increase in the average price level and is not a positive occurrence. When Reagan took office, the REAGAN-SIDE ECONOMICS consumer price index (CPI) was at a high 13.5%, by the end of his terms, the CPI had been decreased to 4.1% (Niskanen & Moore 1996). Those who are critical of Reagan’s policy speak of the explosion of the United States’ budget deficit during the 1980s.
Rector found that in 2004 low-skilled households received about $32,138 in benefits per household on average. Rector then found that these same households paid an average of $9,689 in taxes, resulting in the average low-skill household to collect $22,449 more in benefits than paid in taxes. Taking that $22,449, and multiplying it by the 17.7 million low-skill households, Rector concluded that the total deficit for such households was around $397 billion in 2004. “Over the next ten years the total cost of low-skill households to the taxpayer ... is likely to be at least $3.9 trillion” (York). That’s quite a bill to pay
The median age for the population of Dyer County is 36.5 years of age. Looking back at the US Census report from the year 2000 the population was 38, 335 and has only increased by 765 residents over the last twelve years. This is not indicative of a growing community but of one that is maintaining the status quo. In researching the economic status of Dyer County, it is clear according to an article in the local newspaper, Dyersburg State Gazette dated November 1, 2011 that the unemployment rate for the county is 13.7 percent. This dire statistic earns Dyers County the title of the eight highest unemployment rate for counties in the state of Tennessee.
The worst rates have California, Rhode Island, Nevada and Puerto Rico. In these states are between 10 and 14 percent of the population unemployed. But in comparison with switzerland, its like double: in switzerland we have about 3% unemployed people now. In Comparison to the whole US, Kansas is under the average of 8.16 percent. The mentality of the locals is, as we say, typical american.
The Great Depression was the most significant downturn the U.S. economy experienced in the history of the United States. One of the most significant factors that caused the Great Depression was the staggeringly unequal distribution of wealth among the rich and the middle class. In the late 1920s, the top .1% of all Americans had a combined income equal to the bottom 42% while today, the top 5% richest Americans have a combined income equal to the bottom 53%. While this unequal distribution of income is not quite equal to that of the 1920s and 30s, it is nearing a dangerous point. Another significant cause of the Great Depression was the extensive stock market speculation that occurred in the late 1920s.
There are many people that working on a minimum wage job, and still have trouble living. People are living on a check to check basis with a minimum wage job. The problem is that this problem is not solvable, thats in my opinion, because if you raise minimum wage everything will become more expensive. In the end you will be paying theoretically the same price you were paying before. 1st source.
The National Research Council, a branch of the prestigious National Academy of Sciences, estimates the net fiscal cost of immigration ranges from $11 billion to $22 billion per year, with most government expenditures on immigrants coming from state and local coffers, while most taxes paid by immigrants go to the federal treasury. This is the result of the relatively low level of tax payments by immigrants, because they are disproportionately low-skilled and thus earn low wages, and a higher rate of consumption of government services, both because of their relative poverty and their higher