Income Inequality And Poverty

An important factor in the creation of inequality is variation in individuals’ access to education (Becker, et. Al, 2007). According to Bosworth et. Al, (1999) education in a field that requires or demand a high number of workers, creates high wages for those with advance education. As a result, those who are unable to afford good quality education or choose not to participate in schools or colleges, generally receive much lower wages and thus it lowers aggregate savings and investment. In particular, the increase in family income and wealth

Income inequality has affected American citizens ever since the American Dream came to existence. The American Dream is centered around the concept of working hard and earning enough money to support a family, own a home, send children to college, and invest for retirement. Economic gains in income are one of the only possible ways to achieve enough wealth to fulfill the dream. Unfortunately, many people cannot achieve this dream due to low income. Income inequality refers to the uneven distribution of income and wealth between the social classes of American citizens. The United States has often experienced a rise in inequality as the rich become richer and the poor become poorer, increasing the unstable gap between the two classes. The

In the world today, it is the minorities that mostly have a difficult time where they have money issues and not have enough opportunities like being able to get an education. Everything in the world is about money. If you want or need something, you have to have money in order to obtain it. Yet this causes an issue for those who are low-income and does not get paid enough. Minorities are not able to have such an education where they will be able to afford and this causes them to not be educated as to learn how to help themselves. In order for minorities to escape poverty, there needs to be an understanding what it is that they possibly need and how the needs and wants can be better dealt with.

Our question is, “Does the level of education you receive affect the amount of income you will earn?” Currently, it is said that you need at least a college degree to earn a decent income. This question is often important because in todays society, the amount of money one makes is important to the quality in which one wishes to live. By looking at data we have found through our research it seems as if the higher your level of schooling, reaching anywhere from a high school diploma to a phD, generally leads to a higher average income. In an online article posted on dailyedventures, a close look is taken at five different segments which include, high school diploma or GED, high school diploma, training in vocational schools or associates degree, bachelors degree, and lastly a graduate degree, and specific occupations within those segments. The lowest reported salary came from the first segment, high school diploma or GED. At an average income of only $17,700 a year were waiters/waitresses. The average income increased with the amount of school and the occupation in which you chose, yet this article proved just what we were looking to prove. At an average income of $166,400+ surgeons chimed in, proving that the longer you go to school, the more money you are likely to make. Another article looked at similar information, this time it was against the unemployment rates in the United States. In March 2014 the Bureau of Labor Statistics looked at the earnings and unemployment rate

Socioeconomic status has been known to have a great effect on people. It’s a well-known fact that poverty and inequality affect the well-being and opportunities for families and their children. It is a common fact that people who have accumulated much wealth occupy the top echelons of society and enjoy almost all privileges brought about by their money and social status while the poor have little or no access to these privileges and are often marginalized in terms of education and social services. There are many forms of socio-economic inequality due to racial discrimination in Canada, for example some of the studies I mentioned in this paper show that a wage gap exists between White Canadians and other visible minorities. Despite pay equity

The notion of fairness is often the underlying basis in legitimizing the concept of taxing the rich more than low-income individuals. However, the very idea of fairness would assume that one gets paid accordingly to what they produce for society, given their abilities, yet the current tax system based on margins, opposes this very idea. More specifically, creating higher tax brackets for wealthy people only creates an absence or lack of incentives for the poor to work because they are funded by such taxes, just as the rich are no longer incentivized to produce more outputs in fear of these higher taxes. This complex system influences the overall economic health of society and depending on your income, you can benefit or lose to this inequality, whilst both the poor and the rich can exploit

This then leads on to the idea of the deserving and undeserving poor. Many politicians believe that they should not be helping families which are getting more financial help from the government than families who are going out to work for a living, many politicians believe that people that are unemployed should receive every minimal help from the government and initiate and progress in looking for a job to support themselves and their families. However what these ideas do not support is the events that some family members who are in full time work are made redundant through no fault of their own, these are the families that should be entitled to more help than families who have no employment (Magazine, 2010).

How do we balance the assistance we give the poor but do not discourage work? The labor markets which determine how much workers are paid do not take into consideration how much a family really requires to pay for all expenses like health care, clothes, food, housing, and transportation. The labor markets actually create inequalities of income and as a result create issues leading to poverty. Poverty is measured by the U.S. Census Bureau as a direct result of the Office of Management and Budget 's (OMB) Statistical Policy Directive 14. The Census Bureau uses thresholds that vary by size and composition of families to determine levels of poverty. To sum it up, if a families total income is less than the set

income disparities on society is due to functionalist perspective. this theory refers that income disparities is a necessity to have order and control between society; because of this way everyone has an important role with different function on the society. Additional causes of income disparities due to factionalist perspectives is based on family structure because some born with rich parents (based on families income). Then, technology makes with the pass of the time that many jobs disappear and are replaced with machines. Another cause, is growing markets because people prefers to go to big business than low business. The next one, is immigration because it change the supply labor for low-skilled labor. The last, is property rights affect

Have you ever wondered what it’s like to live in poverty? No proper food, shelter or even clean water. And have you ever stopped for a moment and thought about how inequality and separation has affected the world? Everyone is born different yet we still treat each other differently because of our race, ethnicity, gender, religion and sexuality. Poverty and Inequality has been one of the world’s major concerns. The rich are getting richer and the poor are getting poorer.

Poverty is fundamentally the result of the way society is sorted out and assets are apportioned, whether these are money related or different assets, for example, access to housing, wellbeing, social services and education. Without a doubt, that there are altogether different levels of poverty, what this means is that every country faces different level of poverty due to their resources and opportunities. Individuals or nations that face Poverty additionally need to manage with inequality too. For example economic inequality, healthcare inequality, social inequality, etc.

When most people see these kinds of poverty – and there are many different levels and layers of poverty and deprivation throughout the world -- they think first about the glaring inequalities of income and wealth, both within and between countries.

In the old days, gender equality was not a concern in most of the nation. Men work as a labour outside while women only stay at home to take birth and take care of the household work. Women, in the old days, have no rights to express their own opinions, as the income of the house is supported by the men himself. Therefore, men decide everything in a family and the wife just need to follow their instruction. Women, on the other hand, do not mean does nothing in a family. Women take care of the household works such as cooking and cleaning the house and take birth to build a family. However, the women are not paid for the works that they have done. People looked down on women, as they are not educated, or they have no chances at all in

Furthermore, the consequences of inequality are pretty broad and common sense. There will always be a gap between the rich and the poor. Also known as economic inequality setting boundaries within a society. Some consequences of this inequality are stifling growth, increases in political inequality and increases in crime. Stifles growth meaning if the high level of inequality is high it will increase poverty, which will lead to escalation of crime. This will set burdens on the economy and will perhaps cause an increase in food expenses and a decrease in society’s incomes. Then the growth of the government starts to drop, which doe not affect the rich because they maintain their position. However, it greatly affects the poor. This ties to increasing economic political instability.

I think there is definitely a chance of this based on recent events in our country’s history. For instance, there is a lot of conflict between different classes, races, ethnicities, religions, etc. One of the biggest issues is economic inequality. There have been debates about things like the minimum wage, health insurance, the cost of higher education, and other things that primarily affect poor people. I think that if the lower class-- which is quite a lot of people in the United States today-- feels like they are being mistreated and oppressed, it is possible that they will one-day revolt against the government. However, this could only happen if they felt like they had nothing left to lose. It is difficult to organize things like strikes and protests because people are afraid of losing their jobs. They would have to feel like their current conditions are so bad that it would be more beneficial to risk losing everything to try to bring about a positive change in society.