Believe those who are seeking the truth. Doubt those who find it.
Tuesday, November 8, 2011
M,W,F, 11am
29 comments:
Supitcha Saengkrajang
said...
The rich and the poor. I believe there’s always an opposite of everything. It’s natural. It’s just how this world is made. So if there are rich, poor must exist. I believe that wealth gap occur due to natural of economy system. It balances it out. Today, money is what makes the world run. It’s the motivation to keep human being on their feet and strive for the better. Everyone wants to be rich. Everyone wants to have lots of money. Some people are fortunate enough to be born in a wealthy family and living off of that prosperity. While some other have the right guidance and the luck to become rich from scratch. And some people are just left without any opportunity open for them to even give it a try. It is hard to become successful in most cases. Personally, I believe that in order to become wealthy takes a lot of effort and time. I don’t think that the rich should be treated any differently than the poor because they did what they had to do to be where they are at. Many people might think that it is difficult to become successful with people with attitude are the one who end up on the street with a bucket asking for change. With that time being, they could make themselves useful to the society and find a job. Or they could use their brain to make something for their life. I mean, in some really severe poverty area, the most we could do is offer them opportunity. Bring them into the world of jobs and see if they have the ability to better themselves and get out of the poverty. If not, then there’s really nothing that anyone can do about it. I have a feeling that there are many secrets behind the governments and people with power, but that’s just the way it is. To become rich, you have to earn the position to become rich.
There will always be an obvious wealth gap between the younger and older Americans. The people in the older populations have more work experience meaning a more secure higher paying job. While those of the younger population, are only able to get the part-time minimum wage job, due to lack of experience and/or education. Also, as you get older your wealth begins to grow as you pay off your house, car, debts, etc… Even though I believe the wealth gap between the old and the young is inevitable, I do believe that young people lack the education about finances and how to be financially independent that older people may have. I truly believe that the government should invest in an education program where middle and high school students are required to take a course on financial literacy. The objective of these financial literacy course would be to teach teens and young adults how to manage personal spending-- money management, control personal credit and debt—borrowing, and put personal assets to work to build personal wealth—saving and investing. For teens and young adults alike, the courses would help lay a foundation for financial independence and future decisions.
america is still the land of opportunity right? this is the place where if you work hard enough then the sky is the limit? a wealth gap has always existed between generations but the current economical situation has put this gap in the spotlight how do we shrink the distance between the rich and the poor? we do it by creating a middle ground. the middle class in america is the largest of the three groups(upper,middle,lower) they have the largest number of voters and the largest number of consumers everyone cant be rich at once if that happened then what's the point of currency? i agree that changes must be made in the way we allow the haves to continue to increase their wealth while restricting the have nots. voting is one way to tilt the scale in the direction of the every man because we are after all the majority we just have to stand up and be counted
I don't see the reason why rich people are the reason for poverty. If the rich weren’t free to "get ever richer," developing or investing in ever-increasing productivity, the poor would NEVER have any chance to improve their conditions at all, let alone to obtain their ever-increasing access to the latest tools of that expanding productivity, making every hour of their labor ever-more valuable. And YOU wouldn't EVER have the chance to read this or anything else brought to you by advanced technology. We need lots of more opportunity to get where we want to, but that doesn't make us that poor. Lot of people choose to leave in poverty, while other don't have a choice. Let blame all this on our government. I'm concerne about poverty but I believe that they can survive if they had the chance to.
The universe is unbalanced and so is the balance between the old and rich Americans. According to Michael Carr, "We are all gifted,but some just open their packages earlier than others." This gap has do with the way the younger Americans utilizes their spending, money and many more verses the Older Americans. Yes, it's difficult because of other situations that are affecting us such as : economic crises, The government and other corporations. But this can all change, if we younger Americans act reasonably with our spending and money, then we may see a difference between older and younger Americans. I can understand that it maybe difficult for some or much easier for others.Inheritances has a major role in this, but also motivation and determination have affects too if someone is in a lower class, they too can succeed. We can't blame others for our mistakes if it is our fault.
My idea is that one yes the rich should pay more taxes then the poor because doing this will help the poorer families economically manage themselves a little better. But I also think that educating the lower class families on wealth benefits will also be a good idea. We need to teach them that education is valuable when trying to provide a good social class for their future generations. The rich get richer because they are smart about their money but the poor are poorer everyday because of ignorance. The government may be to blame for they have programs that help the needy and when something comes easy to a person they prefer to stay on the easy route instead of trying to progress. It may be the mentality of most Americans but we need to change that. But also the older generation of people like some of my classmates mentioned, are more experienced. They have all the years of accumulated knowledge to make up for their wealth status. People need to get in their heads that knowledge can help you succeed in this life. This is the land of opportunity. It’s better late then never.
The wealth gap has worsened as a result of the rich having to pay less and less taxes over the years, and the continuing cuts to social programs that benefit the poor and working class. As well, the economony is in a deep recession and job prospects are dwindling, particularly for young adults, who now have to deal with prolonged unemployment alongside school loans, increased tuition, and, for some, a mortgage. Older adults, especially those 65 and above, have not been as adversely affected by the state of the economy. They have the benefit of Social Security, and are more likely to have accumulated their assets and built their wealth over time, being more likely to have paid off most of their debt by that age. One solution to this problem would be to make the rich pay higher taxes. Another would be to require students in high school and college to take some sort of financial literacy course, to educate them on financial management. Yet another would be to increase, rather than cut, those social programs that most benefit the working-class and the poor, to help them through this recession, so that they can at least have an opporturnity to do better, if ever the economy gets back on track.
There is a wage gap and its obvious. I don't feel that it's that much between old and young persons. I think its between the wealthy and the less fortunate. When it comes to college, wealthy families already have college funds and car fund money waiting for their children, who should have no debt coming out of college. The poor on the other hand has to take loan after loan, struggling to pay it back, as well as keeping up with a list of bills, and having to deal with the psychological toll that the poor lifestyle that they're accustomed too. I feel that a start to a wage gap solution is too tax more on the rich. Then, use tax money to help less fortunate pay of medical bills and school and public transportation. I think the problem has to be cured over time through next generations. If we can make college and good schools more accessible to the less fortunate, we are giving us an opportunity to obtain higher wage careers. This is not a socialist country; it is in fact a Capitalist Country. Therefore giving the rich or "1 percent" an argument in not giving a portion f their profits to the less fortunate.
There has been a wealth gap since as far back as the storybook tells. The rich and the poor, and many more (middle class). As long as there is a “rich” there will always be someone for them to be richer than, the “poor”. Like many others, I wish that everyone could just be equal, sadly, that’s not the case in any way. Many jobs are underpaid, as well as many being overpaid. In a way I am in favor of there being a wealth gap. That being said, I wish it could be a little more steady and not separated by discrimination in any way, by race, age, religion, or gender. But that is just wishful thinking. I don’t really want to get into who should pay more taxes since I don’t really know much about it. But I do think that right now, America’s economy stands in a spot where it has plenty of room to grow and fix its inner-dilemmas.
If the wealth inequality is rising now, then it will probably continue to increase within the next years. Since the economy is not getting any better now, people are more in debt. The wealthier people can usually pay off what they owe, but the unwealthy people either have a difficult time paying their debts, or are not able to pay at all. While the rich people are investing money in stocks, the poor people have just enough for their necessities and are not able to save any money. As for the the younger and older Americans, I think there will always be a great gap between the two groups. Mostly, because young americans are either still in school, working part time jobs, or are fresh out of college. Also there are not many jobs available, so it's difficult for them to maintain themselves and pay off their school and car loans.
In this world it's always will be unbalanced. The rich gets richer while the poor gets poorer. The age gap is a factor because of the environment which s/he was brought in.Shocker: Wealth-age gap widens in era of entitlements, high unemployment by ED MORRISSEY states that "that older Americans are remaining in jobs longer, have paid off more of their mortgages, and can collect Social Security benefits, while younger adults are facing the increasing cost of higher education, dramatically lower housing value, and record unemployment."
We are living in an economical time when in this generation its tough to make ends meat. Where jobs are hard to find and if you do it pays little to none. Where a bachelors degree can take you so far. When the economy was up and seeing better days people were able to pay off their debt in no time and buy houses. Even though the recession waved up and down in the early 2000 it was not as bad as it is now. Unemployment is relatively high and the cost of education have gone up Land for example in Florida value have gone down and it depends on the market what the asset will be worth. So how the young generation going to save when its hard to go through everyday life even the middle class is feeling the sting of this epidemic. How can we build up wealth when the economy can't produce jobs and higher education fees are going up?
Education(of any form) Jobs/careers = good pay = save ===> Income + properties = WEALTH.
There is a standard status quo that is put on society even if one denies it. In the poverty line you see that mostly the uneducated are engulfed with debt since it's often made up of sons/daughters of immigrants or oppressed minorities .Many, not all worked all their lives unconsciously imitating their parent(s) causing many to work 9/5 jobs not really knowing how to save. The others that are trying to save or invest towards a better life can't afford to save because of certain factors that hinders them.
As for the middle class some barely made it to this class. Since they are between the working class and the upper class. I couldn't get a good definition myself but according to Wikipedia its define as "...middle class implies those people who typically have had a good education, own a family house, and hold a managerial or professional post". They invest in the long run trying to build future investments by owning property, stock/share investments which they can pass on.They have the education and the teaching to ensure that their children will have assets to pass on and also instill that within their children to do as such.
Where the wealthy is concern some get it by luck other or working hard and others through family. They know how to build up their wealth, how else they are going to stay wealthy. Can't expect wealth to only come from income. For instant take the Kardashian wealth, Their father Robert Kardashian who is a well known attorney and businessman with a net worth of $30 million. On top of that the girls added to the pot by establishing businesses of their own. They were most likely taught from their parents to invest and seek out opportunities. "Kardashian" itself is an asset which can be pass down such as Hilton or any celeb name that has backing to it.
The increase in the wealth gap is no surprise to me at all between the older and younger americans today. The average young american doesnt even have a stable job, some barely even finish school. And the ones that do decide to go to college end up having to take out loans just to attend a decent university.Time has gotten a lot harder and expensive for the younger generation, barely out of school and already in debt. And then you have the wealthy folks they have nothing to worry about because their income is only growing while the low income people struggle to make ends meet. I think the government should come up with a plan to help the young generation from going into debt at such a young age especially if the cause is school loans. There needs to be some type of balance between the rich and the poor, the poor can't keep getting poorer and the rich richer.If the american government doesn't try to do something to help the younger low class-middle class generation things will only get worst as time goes by.
The gap between the rich and the poor is big and getting bigger in America. While it's typical for older generations to hold more wealth than younger ones who've had less time to save, the gap between the two age groups has widened rapidly. Meanwhile, the younger generation is also taking longer to enter the labor force and get married. And surging college costs are also leaving them burdened by more student loans than prior generations. While the gap in net worth has been widening gradually due to delayed marriage and increases in single parenting among young adults, the housing bust and recession have made it significantly worse.
I believe that money is very important to everyone. Without money people are not able to have the things they have now. Being rich and wealthy is great and it is what most people would like and love to be rich and have the good life. But money isn’t everything sometimes it has consequences and when one thinks they have everything one can also lose it in no time. Wealth gaps are always going to a problem in our society. It is going to be difficult to overcome this because as the rich and elderly continue to get money the poor and young will still continue to get low income and be less wealthy. People can be educated about this and hopefully by protesting and demanding government can do something about this situation and this problem can be fixed but would take its time.
Income inequality is a major economical dilemma that we are facing right now. I don’t feel that this is the way we should handle our finances because people are starving while others are spending hundreds and thousands on material objects that are not sufficient or necessary for life. One myth of the poor is that ”People are poor because they are too lazy to work”, this is proven to be a myth because half of the poor are not of working class either because they are too young to legally work or too old and are unable to work. Not only is that an issue but the head of the house has to work to maintain their family with a low paying job, this means they will never get out of poverty instead they will live day by day. It’s unreasonable that the wealth gap is larger than it’s ever been and no one is doing anything about it. I can’t do anything about this situation, but if everyone unites and makes a change we can change our economical situation or even put a stop to it.
My opinion about this issue is that there is nothing that can be done to decrease the gap. Protesting will not work, and neither will sitting around blaming the government and everyone but ourselves. I believe that it is unfair to pick on the rich people just because they have money. They just actually worked hard to get where they are and they deserve it, or they were just lucky enough that they had a wealthy family member from which they could inherit a fortune. Wanting everyone to be equal wealth is somewhat selfish. People who had ambition and worked hard and got an education and really put themselves out there to have money to make a living for them selves deserve it above the people who sit around complaining how other people have wealth and wondering why its not coming to them for free. The rich will continue to get richer while the poor remain poor. It's unfortunate to say but thats the way it is. Not to say that it is impossible for poor to become richer, but it is impossible without the proper ambition and mentality. Majority of society is just lazy, and want things handed to them, and they believe that if they can't have it all then neither can anyone else. but it doesn't work that way. They just sit around and complain hoping things will miraculously change while they continue to put at little effort as possible. Instead of wanting everyone to be equally poor, how about we put the effort to become the 1% of the wealthy? That seems like the more effective solution. People tend to turn to protest, but in the end thats the lazy way out, and all it is is demanding instant change with minimum effort. With the time and effort people put into protesting, they could really make a positive difference in their lives if they really tried. The controversy that wealth is only for a particular race or sex is ridiculous. Anyone in the world has the ability to get up, get a good education and obtain a good job,one in which will make them wealthy in time and with the hard work and dedication it takes to be at that point.
There is a wealth gap between the old and young generations. I believe that this is because the cost of living is rising. with an economy that keeps getting worse it is getting much harder for younger people to acquire assets and save money. Most young americans now are having to go into great debt before they even start there carrer. The older generations have had time to acquire savings and assets which they can leave for future generations which is why the rich get richer and the poor stay poor. But I do believe there is a solution to this, I think we should increase taxes on the rich. Then using that money to benefit the less fortunate. It is becoming increasingly difficult to elevate from poor or middle class to upper class and it is those in the upper classes that keep the lower classes in their place. Wealth gets handed down making it so that the next generation can add on, but when all you can leave your kids is debt then it is more than likely they will leave the same.
Although I cannot speak too much on the topic due to lack of real knowledge, there are some things that I do understand about this economy. For one, I'm currently living this life of the older generations making more money. In my job, I have the same capabilities that the older people do. I may even have less experience than they do, but I can say that I am twice as efficient at my job than all of the people that are over 40. However, I know for a fact that the older generation gets paid more. I'm just going to leave it as I see it, the older generation looks out for their kind. I guess they think "well he's a young college student, why would we need to pay him more money?" Then you have the corporations that take the same excuse "the economy, the economy" and refuse to raise wages, pay benefits, give bonuses, etc. I have a very dear friend of mine that received a Masters degree and doesn't even have health insurance at her job. How messed up is that? How can the poor even get to even dream about being in the middle class if now they have to pay for their own health insurance and you keep getting paid the same amount of money you were making a year ago while inflation and debt gets higher because everything is more expensive? It seems that having an education doesn't even guarantee your right to make decent money and achieve wealth. So what's the solution? Tax the rich? Steal their money and give it to the poor?
Actually, the above cannot happen either. It is proven that when a liberal president raises taxes on the rich, the rich fight back by laying off workers, forcing their companies to run a skeleton crew (a few employees working as if we are in a sweat shop in China), stop paying benefits, etc.
I'm going to have to read more about economics and study all the aspects in order to form a valuable opinion. However, I don't see why the U.S. Government can't control the corporations just a little bit more. Force raises, force benefits, force a number of things that should be a given to a U.S. Citizen that practically works his entire life just to have dinner at the table every day and a nice place to live. In return, keep giving them the tax breaks, and whatever else they need to stay afloat. I don't think that small business should be given this bird's eye view. But when you have corporations controlling so much of the money through our economy, and then deliberately messing with the lives of their employees as if we are some sick, drugged up puppets taking whatever we can get, working our asses off to better the corporation and then get NOTHING in return? Please tell me that something can be done, or please tell me that the heads of these disgusting CEO's that pay themselves over 100 million dollars a year will eventually pop from how much BS they are feeding themselves. ...Continuing on another post...
I mentioned above how it seems that education is becoming more of a back-breaker than a real benefit in our lives. I don't really believe that all of us should think that way. Such is the case for some, but not all. Yes, I remember the discussion we had in class that the richest people in the US didn't go to college. However, what makes you think that you will be one of those people? Please aspire to be all you want to be, if you don't want an education and you just want to make some stupid company up on the internet and then sell it to make millions, and then be satisfied with your life, by all means go for it. But after closely analyzing what the odds are of something like that happening to most of us, I rather give myself that extra chance at being someone educated in this world, so that if the crap really does end up hitting the fan, I'll be educated enough to take a job out there over the next guy. Working hard is not a myth, it's something that you have to do in order to get to what you want. Not even wealth is guaranteed forever. You could spend your entire life trying to build your wealth and succeed, only to leave it to children that completely abandon the same ethical values you had, and spend on nonsense. Don't think it can happen to you? Please, anything can happen. Look at athletes. Once had MILLIONS, and many of them file for bankruptcy after they got old. These kinds of things can happen to anyone. So go out and enjoy your education. Money comes and goes in an instant. Sitting here and talking about wealth is great and all, but in the end, the only thing that truly matters is what you value. Karl Marx's idea of what value was is incorrect. The only thing that can make anything valuable, is you. The only thing that can make a 10 dollar phone worth 500 dollars is us. So I'll put forth my efforts on what is important to me; enjoying my education and actually learning, and working my butt off to get to where I want to be.
GABRIEL GUTIERREZ I think one of the main reasons the wealth gap is so large and is only becoming larger is due to a growing number of Americans that feel that things are owed to them. One of the beauties of living in the United States is knowing that the sky is the limit on how successful you can be. I am by no means saying that becoming wealthy or rich is easy, however, it is possible and it happens all the time. More and more Americans feel that they deserve some sort of compensation from the government via welfare, food stamps, unemployment etc, thus leading to more people just barely getting by on money that doesn’t belong to them. Then on the other side you have those who work as hard as they can to earn their money. This to me is the reason the gap is what it is and it’s something that needs to be changed as soon as possible or this country is going to be in worse shape then it already is.
Of course the article excludes pointing out how this study undermines the primary complaint of the protesters; income gap. The response to such complaints is that upward income mobility negates the majority of the protesters "unfairness" arguments. The natural progression of things for persons willing to learn, work and strive to make a contribution for themselves and to their community is to be better off financially at the end of their career than at the beginning. They start off serving burgers for minimum wage and wind up as far as their work ethic and talents will take them. But it's a pretty difficult to make a successful, disruptive political pitch on this theme, so for the time being, Wall Street greed will just have to suffice.
The wealth gap comes to me as no surprise. Things are different for my generation as costs have risen and the availability of jobs has lessened. For there to be a smaller gap between rich and poor isn’t something that will likely ever happen. It seems like our society was created this way. Many things would need to be changed around in order for this gap to be smaller. For example certain professions such as teaching and nursing positions are underpaid. Where as there are athletes that are being paid ridiculous amounts of money just to play a sport. Although this is just on example this is one of the many things that ensures that lower and middle class have a harder time moving up, if they even have the chance to. --Tircia Melo
I believe that the problem to make gaps in economy or in wealth is based on education. Some people are not educated in the way to save money; those are the ones that spend what they get. Some people get hundred dollars today and next day they are with empty bags because they are not taught how to save money. In the other hand there are other people that spend part of their money, in my opinion I think those people are the ones who like money. These people save their money or invest it, to get more from it. Making money is not that easy and I agree with the post in the part where it says that some people have the same amount of income but not the same amount of wealth. Sometimes the circumstances are different, the level to spend it requires knowledge and sometimes depends of the amount of people that the money is spread. When the number of people living in a house is larger it is difficult to maintain it depending on the income receiving from the one who’s working. I believed in the theory of spending 50% and saving or investing the other 50%, I have tried it and it’s difficult but at the end it worth it.
Unfortunately, our society separates people into these different class categories, and life will always have rich and poor, higher incomes and higher wealth. We need both sides of the picture because each side plays a role in society. To talk about the gap is to only acknowledge the fact that this gap will always exist, it builds up a lot of hatred but we can’t join the classes and make one single level of wealth among citizens. Some people choose to lead the kind of lives they lead, some are force and this is true for both poor and the wealthy. To narrow the gap between the two classes, I think the primary idea would be for a person to establish a financial structure to what kind of life style he or she wants, set financial goals and to work for these. Now, I would like to point out that not every person sees wealth as a necessity or a major fundamental possession, not every person craves the life style of owning homes, stocks and other luxuries. Another thing that it should be done to narrow this gap is for the government to give tax breaks for those who are at a much lower position on the wealth scale, cut back on the student loans and allow for people to enrich their lives, not to break them. Lastly, by allowing people an education it narrows the gap, it slows down poverty, it increases technological advancement.
The primary causes contributing to the persistence of wealth inequality will, I believe, never change. The wealthy will stay wealthy and the not-wealthy will stay not-wealthy according to the article. The “rich” use their money they invest to “...earn larger returns and the poor have no savings with which to produce returns or eliminate debt.” Therefore, the wealthy will be able to pass on their wealth to future generation to develop more wealth and the poor have little or no wealth to pass on. Now, the difference between the Older Americans and Younger Americans I believe has to do with how their wealth or money is handled. The Older Americans have experience and spend their money and are more cautious of how it is spent. Younger Americans tend to use their money religiously, even when it is not their, such as credit cards. This is a cycle and I do not think it will change.
The wealth gap will always exsist no matter what. Older people are more experienced than younger people so it would always be natural that they have money. I dont believe there is a way to decrease this gap. I believe people should learn about their finances and how to increase profit. But doing this isnt as easy as it sounds, middle class are playing "keep up", some families are working paycheck to paycheck trying to pay their bills on time, people like this dont have the extra cash laying around to invest in stocks and investments and the economy isnt helping them either. The rich are getting richer because they have more money to invest and arent living paycheck to paycheck. Education is also a factor in this aswell, people with college degrees are more likely to make more money, and alot of families dont have college graduates. With that being said, education can be one of the key successes to getting out of poverty if your really focus, but i still belive the gap will always be there.
First off, there will always be a gap between young and old, rich and poor. You can say, it somehow was easier for the last generation compared to our generation, to find ways to stay afloat. True we have technology to use to our advantage, but things were somewhat easier back then. No matter how many hours someone works, it never is enough these days. It is somewhat brainwashed into everyones mind that in order to be successful, rich, wealthy, etc; you need a college education, and I’m on the fence with this subject. There are plenty of fields that do not require a college degree but experience is needed such as blue collar jobs like a mechanic becoming an entrepreneur. I think when it comes down to it, we need to find our calling and pursue it. I think not everyone sees wealth the same, it can have so many different meanings to everyone.
I think that increasing the wealth gap in the rich and middle class is a very important thing that will affect the future of our world, But has time pass rich people get richer and poor get poorer. Has time pass looks like the opportunities for us young people are less every day is difficult to find a job, to open your own business, when I grduate I want to open my own business, but right now is really hard. I really care about the wealth gap because I'm thinking about my future.
The gap in our economic class has always existed we will always have a lower, middle, and high class in our society but through time it has increased dramatically. Our middle class has gotten so small that it is hard to classify someone as middle class. Wealth is what we own and what we make for a living, with our economic crisis many of our middle class citizens wealth dropped drastically making it hard to build back up causing an increase in our lower class. When someone loses their home and job it's though to build back up from the start, most of us will work our whole life to own a home and find a stable job that pays a big enough salary to make a living. the higher class which is the smallest just seems to keep getting bigger even if they were affected financially by the economic crisis their wealth stayed the same or suffered a minor loss, while everybody else faced a drastic change in their life. I'm not saying that the rich are at fault of our increasing wealth gap we are all responsible for our economic affairs and our wealth gap is also our fault people from all classes used money they didn't have and couldn't pay it back when the bubble burst we all were left to face our choices. The wealth gap will keep increasing as we keep being irresponsible with our money, we don't need to become ultra conservatives but everything should be handled in moderation specially our hard earned money.
29 comments:
The rich and the poor. I believe there’s always an opposite of everything. It’s natural. It’s just how this world is made. So if there are rich, poor must exist. I believe that wealth gap occur due to natural of economy system. It balances it out. Today, money is what makes the world run. It’s the motivation to keep human being on their feet and strive for the better. Everyone wants to be rich. Everyone wants to have lots of money. Some people are fortunate enough to be born in a wealthy family and living off of that prosperity. While some other have the right guidance and the luck to become rich from scratch. And some people are just left without any opportunity open for them to even give it a try. It is hard to become successful in most cases. Personally, I believe that in order to become wealthy takes a lot of effort and time. I don’t think that the rich should be treated any differently than the poor because they did what they had to do to be where they are at. Many people might think that it is difficult to become successful with people with attitude are the one who end up on the street with a bucket asking for change. With that time being, they could make themselves useful to the society and find a job. Or they could use their brain to make something for their life. I mean, in some really severe poverty area, the most we could do is offer them opportunity. Bring them into the world of jobs and see if they have the ability to better themselves and get out of the poverty. If not, then there’s really nothing that anyone can do about it. I have a feeling that there are many secrets behind the governments and people with power, but that’s just the way it is. To become rich, you have to earn the position to become rich.
There will always be an obvious wealth gap between the younger and older Americans. The people in the older populations have more work experience meaning a more secure higher paying job. While those of the younger population, are only able to get the part-time minimum wage job, due to lack of experience and/or education. Also, as you get older your wealth begins to grow as you pay off your house, car, debts, etc… Even though I believe the wealth gap between the old and the young is inevitable, I do believe that young people lack the education about finances and how to be financially independent that older people may have.
I truly believe that the government should invest in an education program where middle and high school students are required to take a course on financial literacy. The objective of these financial literacy course would be to teach teens and young adults how to manage personal spending-- money management, control personal credit and debt—borrowing, and put personal assets to work to build personal wealth—saving and investing. For teens and young adults alike, the courses would help lay a foundation for financial independence and future decisions.
america is still the land of opportunity right? this is the place where if you work hard enough then the sky is the limit? a wealth gap has always existed between generations but the current economical situation has put this gap in the spotlight how do we shrink the distance between the rich and the poor? we do it by creating a middle ground. the middle class in america is the largest of the three groups(upper,middle,lower) they have the largest number of voters and the largest number of consumers everyone cant be rich at once if that happened then what's the point of currency? i agree that changes must be made in the way we allow the haves to continue to increase their wealth while restricting the have nots. voting is one way to tilt the scale in the direction of the every man because we are after all the majority we just have to stand up and be counted
I don't see the reason why rich people are the reason for poverty. If the rich weren’t free to "get ever richer," developing or investing in ever-increasing productivity, the poor would NEVER have any chance to improve their conditions at all, let alone to obtain their ever-increasing access to the latest tools of that expanding productivity, making every hour of their labor ever-more valuable. And YOU wouldn't EVER have the chance to read this or anything else brought to you by advanced technology. We need lots of more opportunity to get where we want to, but that doesn't make us that poor. Lot of people choose to leave in poverty, while other don't have a choice. Let blame all this on our government. I'm concerne about poverty but I believe that they can survive if they had the chance to.
The universe is unbalanced and so is the balance between the old and rich Americans. According to Michael Carr, "We are all gifted,but some just open their packages earlier than others." This gap has do with the way the younger Americans utilizes their spending, money and many more verses the Older Americans. Yes, it's difficult because of other situations that are affecting us such as : economic crises, The government and other corporations. But this can all change, if we younger Americans act reasonably with our spending and money, then we may see a difference between older and younger Americans. I can understand that it maybe difficult for some or much easier for others.Inheritances has a major role in this, but also motivation and determination have affects too if someone is in a lower class, they too can succeed. We can't blame others for our mistakes if it is our fault.
My idea is that one yes the rich should pay more taxes then the poor because doing this will help the poorer families economically manage themselves a little better. But I also think that educating the lower class families on wealth benefits will also be a good idea. We need to teach them that education is valuable when trying to provide a good social class for their future generations. The rich get richer because they are smart about their money but the poor are poorer everyday because of ignorance. The government may be to blame for they have programs that help the needy and when something comes easy to a person they prefer to stay on the easy route instead of trying to progress. It may be the mentality of most Americans but we need to change that. But also the older generation of people like some of my classmates mentioned, are more experienced. They have all the years of accumulated knowledge to make up for their wealth status. People need to get in their heads that knowledge can help you succeed in this life. This is the land of opportunity. It’s better late then never.
The wealth gap has worsened as a result of the rich having to pay less and less taxes over the years, and the continuing cuts to social programs that benefit the poor and working class. As well, the economony is in a deep recession and job prospects are dwindling, particularly for young adults, who now have to deal with prolonged unemployment alongside school loans, increased tuition, and, for some, a mortgage. Older adults, especially those 65 and above, have not been as adversely affected by the state of the economy. They have the benefit of Social Security, and are more likely to have accumulated their assets and built their wealth over time, being more likely to have paid off most of their debt by that age. One solution to this problem would be to make the rich pay higher taxes. Another would be to require students in high school and college to take some sort of financial literacy course, to educate them on financial management. Yet another would be to increase, rather than cut, those social programs that most benefit the working-class and the poor, to help them through this recession, so that they can at least have an opporturnity to do better, if ever the economy gets back on track.
There is a wage gap and its obvious. I don't feel that it's that much between old and young persons. I think its between the wealthy and the less fortunate. When it comes to college, wealthy families already have college funds and car fund money waiting for their children, who should have no debt coming out of college. The poor on the other hand has to take loan after loan, struggling to pay it back, as well as keeping up with a list of bills, and having to deal with the psychological toll that the poor lifestyle that they're accustomed too. I feel that a start to a wage gap solution is too tax more on the rich. Then, use tax money to help less fortunate pay of medical bills and school and public transportation. I think the problem has to be cured over time through next generations. If we can make college and good schools more accessible to the less fortunate, we are giving us an opportunity to obtain higher wage careers.
This is not a socialist country; it is in fact a Capitalist Country. Therefore giving the rich or "1 percent" an argument in not giving a portion f their profits to the less fortunate.
There has been a wealth gap since as far back as the storybook tells. The rich and the poor, and many more (middle class). As long as there is a “rich” there will always be someone for them to be richer than, the “poor”. Like many others, I wish that everyone could just be equal, sadly, that’s not the case in any way. Many jobs are underpaid, as well as many being overpaid. In a way I am in favor of there being a wealth gap. That being said, I wish it could be a little more steady and not separated by discrimination in any way, by race, age, religion, or gender. But that is just wishful thinking. I don’t really want to get into who should pay more taxes since I don’t really know much about it. But I do think that right now, America’s economy stands in a spot where it has plenty of room to grow and fix its inner-dilemmas.
If the wealth inequality is rising now, then it will probably continue to increase within the next years. Since the economy is not getting any better now, people are more in debt. The wealthier people can usually pay off what they owe, but the unwealthy people either have a difficult time paying their debts, or are not able to pay at all. While the rich people are investing money in stocks, the poor people have just enough for their necessities and are not able to save any money. As for the the younger and older Americans, I think there will always be a great gap between the two groups. Mostly, because young americans are either still in school, working part time jobs, or are fresh out of college. Also there are not many jobs available, so it's difficult for them to maintain themselves and pay off their school and car loans.
In this world it's always will be unbalanced. The rich gets richer while the poor gets poorer. The age gap is a factor because of the environment which s/he was brought in.Shocker: Wealth-age gap widens in era of entitlements, high unemployment by ED MORRISSEY states that "that older Americans are remaining in jobs longer, have paid off more of their mortgages, and can collect Social Security benefits, while younger adults are facing the increasing cost of higher education, dramatically lower housing value, and record unemployment."
We are living in an economical time when in this generation its tough to make ends meat. Where jobs are hard to find and if you do it pays little to none. Where a bachelors degree can take you so far. When the economy was up and seeing better days people were able to pay off their debt in no time and buy houses. Even though the recession waved up and down in the early 2000 it was not as bad as it is now. Unemployment is relatively high and the cost of education have gone up Land for example in Florida value have gone down and it depends on the market what the asset will be worth. So how the young generation going to save when its hard to go through everyday life even the middle class is feeling the sting of this epidemic. How can we build up wealth when the economy can't produce jobs and higher education fees are going up?
Education(of any form) Jobs/careers = good pay = save ===> Income + properties = WEALTH.
There is a standard status quo that is put on society even if one denies it. In the poverty line you see that mostly the uneducated are engulfed with debt since it's often made up of sons/daughters of immigrants or oppressed minorities .Many, not all worked all their lives unconsciously imitating their parent(s) causing many to work 9/5 jobs not really knowing how to save. The others that are trying to save or invest towards a better life can't afford to save because of certain factors that hinders them.
As for the middle class some barely made it to this class. Since they are between the working class and the upper class. I couldn't get a good definition myself but according to Wikipedia its define as "...middle class implies those people who typically have had a good education, own a family house, and hold a managerial or professional post". They invest in the long run trying to build future investments by owning property, stock/share investments which they can pass on.They have the education and the teaching to ensure that their children will have assets to pass on and also instill that within their children to do as such.
Where the wealthy is concern some get it by luck other or working hard and others through family. They know how to build up their wealth, how else they are going to stay wealthy. Can't expect wealth to only come from income. For instant take the Kardashian wealth, Their father Robert Kardashian who is a well known attorney and businessman with a net worth of $30 million. On top of that the girls added to the pot by establishing businesses of their own. They were most likely taught from their parents to invest and seek out opportunities. "Kardashian" itself is an asset which can be pass down such as Hilton or any celeb name that has backing to it.
The increase in the wealth gap is no surprise to me at all between the older and younger americans today. The average young american doesnt even have a stable job, some barely even finish school. And the ones that do decide to go to college end up having to take out loans just to attend a decent university.Time has gotten a lot harder and expensive for the younger generation, barely out of school and already in debt. And then you have the wealthy folks they have nothing to worry about because their income is only growing while the low income people struggle to make ends meet. I think the government should come up with a plan to help the young generation from going into debt at such a young age especially if the cause is school loans. There needs to be some type of balance between the rich and the poor, the poor can't keep getting poorer and the rich richer.If the american government doesn't try to do something to help the younger low class-middle class generation things will only get worst as time goes by.
The gap between the rich and the poor is big and getting bigger in America. While it's typical for older generations to hold more wealth than younger ones who've had less time to save, the gap between the two age groups has widened rapidly. Meanwhile, the younger generation is also taking longer to enter the labor force and get married. And surging college costs are also leaving them burdened by more student loans than prior generations. While the gap in net worth has been widening gradually due to delayed marriage and increases in single parenting among young adults, the housing bust and recession have made it significantly worse.
I believe that money is very important to everyone. Without money people are not able to have the things they have now. Being rich and wealthy is great and it is what most people would like and love to be rich and have the good life. But money isn’t everything sometimes it has consequences and when one thinks they have everything one can also lose it in no time. Wealth gaps are always going to a problem in our society. It is going to be difficult to overcome this because as the rich and elderly continue to get money the poor and young will still continue to get low income and be less wealthy. People can be educated about this and hopefully by protesting and demanding government can do something about this situation and this problem can be fixed but would take its time.
Income inequality is a major economical dilemma that we are facing right now. I don’t feel that this is the way we should handle our finances because people are starving while others are spending hundreds and thousands on material objects that are not sufficient or necessary for life. One myth of the poor is that ”People are poor because they are too lazy to work”, this is proven to be a myth because half of the poor are not of working class either because they are too young to legally work or too old and are unable to work. Not only is that an issue but the head of the house has to work to maintain their family with a low paying job, this means they will never get out of poverty instead they will live day by day. It’s unreasonable that the wealth gap is larger than it’s ever been and no one is doing anything about it. I can’t do anything about this situation, but if everyone unites and makes a change we can change our economical situation or even put a stop to it.
My opinion about this issue is that there is nothing that can be done to decrease the gap. Protesting will not work, and neither will sitting around blaming the government and everyone but ourselves. I believe that it is unfair to pick on the rich people just because they have money. They just actually worked hard to get where they are and they deserve it, or they were just lucky enough that they had a wealthy family member from which they could inherit a fortune. Wanting everyone to be equal wealth is somewhat selfish. People who had ambition and worked hard and got an education and really put themselves out there to have money to make a living for them selves deserve it above the people who sit around complaining how other people have wealth and wondering why its not coming to them for free. The rich will continue to get richer while the poor remain poor. It's unfortunate to say but thats the way it is. Not to say that it is impossible for poor to become richer, but it is impossible without the proper ambition and mentality. Majority of society is just lazy, and want things handed to them, and they believe that if they can't have it all then neither can anyone else. but it doesn't work that way. They just sit around and complain hoping things will miraculously change while they continue to put at little effort as possible. Instead of wanting everyone to be equally poor, how about we put the effort to become the 1% of the wealthy? That seems like the more effective solution. People tend to turn to protest, but in the end thats the lazy way out, and all it is is demanding instant change with minimum effort. With the time and effort people put into protesting, they could really make a positive difference in their lives if they really tried. The controversy that wealth is only for a particular race or sex is ridiculous. Anyone in the world has the ability to get up, get a good education and obtain a good job,one in which will make them wealthy in time and with the hard work and dedication it takes to be at that point.
There is a wealth gap between the old and young generations. I believe that this is because the cost of living is rising. with an economy that keeps getting worse it is getting much harder for younger people to acquire assets and save money. Most young americans now are having to go into great debt before they even start there carrer. The older generations have had time to acquire savings and assets which they can leave for future generations which is why the rich get richer and the poor stay poor. But I do believe there is a solution to this, I think we should increase taxes on the rich. Then using that money to benefit the less fortunate. It is becoming increasingly difficult to elevate from poor or middle class to upper class and it is those in the upper classes that keep the lower classes in their place. Wealth gets handed down making it so that the next generation can add on, but when all you can leave your kids is debt then it is more than likely they will leave the same.
Although I cannot speak too much on the topic due to lack of real knowledge, there are some things that I do understand about this economy. For one, I'm currently living this life of the older generations making more money. In my job, I have the same capabilities that the older people do. I may even have less experience than they do, but I can say that I am twice as efficient at my job than all of the people that are over 40. However, I know for a fact that the older generation gets paid more. I'm just going to leave it as I see it, the older generation looks out for their kind. I guess they think "well he's a young college student, why would we need to pay him more money?" Then you have the corporations that take the same excuse "the economy, the economy" and refuse to raise wages, pay benefits, give bonuses, etc.
I have a very dear friend of mine that received a Masters degree and doesn't even have health insurance at her job. How messed up is that? How can the poor even get to even dream about being in the middle class if now they have to pay for their own health insurance and you keep getting paid the same amount of money you were making a year ago while inflation and debt gets higher because everything is more expensive? It seems that having an education doesn't even guarantee your right to make decent money and achieve wealth. So what's the solution? Tax the rich? Steal their money and give it to the poor?
Actually, the above cannot happen either. It is proven that when a liberal president raises taxes on the rich, the rich fight back by laying off workers, forcing their companies to run a skeleton crew (a few employees working as if we are in a sweat shop in China), stop paying benefits, etc.
I'm going to have to read more about economics and study all the aspects in order to form a valuable opinion. However, I don't see why the U.S. Government can't control the corporations just a little bit more. Force raises, force benefits, force a number of things that should be a given to a U.S. Citizen that practically works his entire life just to have dinner at the table every day and a nice place to live. In return, keep giving them the tax breaks, and whatever else they need to stay afloat. I don't think that small business should be given this bird's eye view. But when you have corporations controlling so much of the money through our economy, and then deliberately messing with the lives of their employees as if we are some sick, drugged up puppets taking whatever we can get, working our asses off to better the corporation and then get NOTHING in return? Please tell me that something can be done, or please tell me that the heads of these disgusting CEO's that pay themselves over 100 million dollars a year will eventually pop from how much BS they are feeding themselves.
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I mentioned above how it seems that education is becoming more of a back-breaker than a real benefit in our lives. I don't really believe that all of us should think that way. Such is the case for some, but not all. Yes, I remember the discussion we had in class that the richest people in the US didn't go to college. However, what makes you think that you will be one of those people? Please aspire to be all you want to be, if you don't want an education and you just want to make some stupid company up on the internet and then sell it to make millions, and then be satisfied with your life, by all means go for it. But after closely analyzing what the odds are of something like that happening to most of us, I rather give myself that extra chance at being someone educated in this world, so that if the crap really does end up hitting the fan, I'll be educated enough to take a job out there over the next guy. Working hard is not a myth, it's something that you have to do in order to get to what you want. Not even wealth is guaranteed forever. You could spend your entire life trying to build your wealth and succeed, only to leave it to children that completely abandon the same ethical values you had, and spend on nonsense. Don't think it can happen to you? Please, anything can happen. Look at athletes. Once had MILLIONS, and many of them file for bankruptcy after they got old. These kinds of things can happen to anyone. So go out and enjoy your education. Money comes and goes in an instant. Sitting here and talking about wealth is great and all, but in the end, the only thing that truly matters is what you value. Karl Marx's idea of what value was is incorrect. The only thing that can make anything valuable, is you. The only thing that can make a 10 dollar phone worth 500 dollars is us. So I'll put forth my efforts on what is important to me; enjoying my education and actually learning, and working my butt off to get to where I want to be.
GABRIEL GUTIERREZ
I think one of the main reasons the wealth gap is so large and is only becoming larger is due to a growing number of Americans that feel that things are owed to them. One of the beauties of living in the United States is knowing that the sky is the limit on how successful you can be. I am by no means saying that becoming wealthy or rich is easy, however, it is possible and it happens all the time. More and more Americans feel that they deserve some sort of compensation from the government via welfare, food stamps, unemployment etc, thus leading to more people just barely getting by on money that doesn’t belong to them. Then on the other side you have those who work as hard as they can to earn their money. This to me is the reason the gap is what it is and it’s something that needs to be changed as soon as possible or this country is going to be in worse shape then it already is.
Of course the article excludes pointing out how this study undermines the primary complaint of the protesters; income gap. The response to such complaints is that upward income mobility negates the majority of the protesters "unfairness" arguments. The natural progression of things for persons willing to learn, work and strive to make a contribution for themselves and to their community is to be better off financially at the end of their career than at the beginning. They start off serving burgers for minimum wage and wind up as far as their work ethic and talents will take them. But it's a pretty difficult to make a successful, disruptive political pitch on this theme, so for the time being, Wall Street greed will just have to suffice.
The wealth gap comes to me as no surprise. Things are different for my generation as costs have risen and the availability of jobs has lessened. For there to be a smaller gap between rich and poor isn’t something that will likely ever happen. It seems like our society was created this way. Many things would need to be changed around in order for this gap to be smaller. For example certain professions such as teaching and nursing positions are underpaid. Where as there are athletes that are being paid ridiculous amounts of money just to play a sport. Although this is just on example this is one of the many things that ensures that lower and middle class have a harder time moving up, if they even have the chance to. --Tircia Melo
I believe that the problem to make gaps in economy or in wealth is based on education. Some people are not educated in the way to save money; those are the ones that spend what they get. Some people get hundred dollars today and next day they are with empty bags because they are not taught how to save money. In the other hand there are other people that spend part of their money, in my opinion I think those people are the ones who like money. These people save their money or invest it, to get more from it. Making money is not that easy and I agree with the post in the part where it says that some people have the same amount of income but not the same amount of wealth. Sometimes the circumstances are different, the level to spend it requires knowledge and sometimes depends of the amount of people that the money is spread. When the number of people living in a house is larger it is difficult to maintain it depending on the income receiving from the one who’s working. I believed in the theory of spending 50% and saving or investing the other 50%, I have tried it and it’s difficult but at the end it worth it.
Unfortunately, our society separates people into these different class categories, and life will always have rich and poor, higher incomes and higher wealth. We need both sides of the picture because each side plays a role in society. To talk about the gap is to only acknowledge the fact that this gap will always exist, it builds up a lot of hatred but we can’t join the classes and make one single level of wealth among citizens. Some people choose to lead the kind of lives they lead, some are force and this is true for both poor and the wealthy. To narrow the gap between the two classes, I think the primary idea would be for a person to establish a financial structure to what kind of life style he or she wants, set financial goals and to work for these. Now, I would like to point out that not every person sees wealth as a necessity or a major fundamental possession, not every person craves the life style of owning homes, stocks and other luxuries. Another thing that it should be done to narrow this gap is for the government to give tax breaks for those who are at a much lower position on the wealth scale, cut back on the student loans and allow for people to enrich their lives, not to break them. Lastly, by allowing people an education it narrows the gap, it slows down poverty, it increases technological advancement.
The primary causes contributing to the persistence of wealth inequality will, I believe, never change. The wealthy will stay wealthy and the not-wealthy will stay not-wealthy according to the article. The “rich” use their money they invest to “...earn larger returns and the poor have no savings with which to produce returns or eliminate debt.” Therefore, the wealthy will be able to pass on their wealth to future generation to develop more wealth and the poor have little or no wealth to pass on. Now, the difference between the Older Americans and Younger Americans I believe has to do with how their wealth or money is handled. The Older Americans have experience and spend their money and are more cautious of how it is spent. Younger Americans tend to use their money religiously, even when it is not their, such as credit cards. This is a cycle and I do not think it will change.
The wealth gap will always exsist no matter what. Older people are more experienced than younger people so it would always be natural that they have money. I dont believe there is a way to decrease this gap. I believe people should learn about their finances and how to increase profit. But doing this isnt as easy as it sounds, middle class are playing "keep up", some families are working paycheck to paycheck trying to pay their bills on time, people like this dont have the extra cash laying around to invest in stocks and investments and the economy isnt helping them either. The rich are getting richer because they have more money to invest and arent living paycheck to paycheck. Education is also a factor in this aswell, people with college degrees are more likely to make more money, and alot of families dont have college graduates. With that being said, education can be one of the key successes to getting out of poverty if your really focus, but i still belive the gap will always be there.
First off, there will always be a gap between young and old, rich and poor. You can say, it somehow was easier for the last generation compared to our generation, to find ways to stay afloat. True we have technology to use to our advantage, but things were somewhat easier back then. No matter how many hours someone works, it never is enough these days. It is somewhat brainwashed into everyones mind that in order to be successful, rich, wealthy, etc; you need a college education, and I’m on the fence with this subject. There are plenty of fields that do not require a college degree but experience is needed such as blue collar jobs like a mechanic becoming an entrepreneur. I think when it comes down to it, we need to find our calling and pursue it. I think not everyone sees wealth the same, it can have so many different meanings to everyone.
I think that increasing the wealth gap in the rich and middle class is a very important thing that will affect the future of our world, But has time pass rich people get richer and poor get poorer. Has time pass looks like the opportunities for us young people are less every day is difficult to find a job, to open your own business, when I grduate I want to open my own business, but right now is really hard. I really care about the wealth gap because I'm thinking about my future.
The gap in our economic class has always existed we will always have a lower, middle, and high class in our society but through time it has increased dramatically. Our middle class has gotten so small that it is hard to classify someone as middle class. Wealth is what we own and what we make for a living, with our economic crisis many of our middle class citizens wealth dropped drastically making it hard to build back up causing an increase in our lower class. When someone loses their home and job it's though to build back up from the start, most of us will work our whole life to own a home and find a stable job that pays a big enough salary to make a living. the higher class which is the smallest just seems to keep getting bigger even if they were affected financially by the economic crisis their wealth stayed the same or suffered a minor loss, while everybody else faced a drastic change in their life. I'm not saying that the rich are at fault of our increasing wealth gap we are all responsible for our economic affairs and our wealth gap is also our fault people from all classes used money they didn't have and couldn't pay it back when the bubble burst we all were left to face our choices. The wealth gap will keep increasing as we keep being irresponsible with our money, we don't need to become ultra conservatives but everything should be handled in moderation specially our hard earned money.
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