Article V: The Wealth Amendment In The United States

Article Five of the Constitution gave the procedure for amending the Constitution, that little did the founders know would be used almost immediately. In order for an amendment to be proposed either two-thirds of Congress must deem the amendment necessary or two-thirds of the state legislatures must call for a convention to propose an amendment. Once the amendment was proposed it would take three-fourths of the states to ratify the amendment. This article also ensured that no amendment could be passed that deprived a state of its equal vote in the senate. The interesting part of this Article is

An amendment is brought before congress and it is voted on, then either put into effect or put aside (Schmidt,2017) The process of amending the constitution is not easy and it requires patience and diligence from all involved. There are many opinions that need to be sorted through and the final decision always goes back to what is seen best for all Americans at the time in which they are living. One issue that is worthy to be an amendment right now in the United States is, that American citizens should be able to digitally track their vote for the president of the United

According to Inequality.org, “We equate wealth with ‘net worth,’ the sum total of your assets minus liabilities. Assets can include everything from an owned personal residence and cash in savings accounts to investments in stocks/bonds, real estate, and retirement accounts. Liabilities cover what a household owes: a car loan, credit card balance, student loan, mortgage, or any other bill yet to be paid. In the United States, wealth inequality runs even more pronounced than income inequality” (Wealth). Wealth disparity affects everyone in America. When the top twenty percent of earners in America take over fifty percent of total earnings in any given year, It can be see as very unfair by anyone who is in the middle class and especially the lower class of citizens in the U.S. It is safe to say that both sides of the political world (Republicans and Democrats) are equally worried about how economic inequality will affect their children and future generations. No matter who you ask, rich or poor, and whatever their opinion on the shape of economic distribution in America is, they most likely have a unrealistic sense of the state it is actually in.

Poverty affects millions of people living in the united states, poverty is measured by the amount of money needed to support the basic needs of a house hold. Poverty is measured by the SSA low-cost food budget assuming 1/3 of the budget is spent on food. The people with the highest percentage of poverty is shown to be Hispanic female households with no spouse present. The vast majority of people in poverty are women and children but in recent years the numbers of women considered poor have raised. Percentage rate is the percentage of poor in different counties. Looking at graph that maps Americas diversity shows that the highest poverty rate is in the South the Midwest has the least. I would assume that has to do with the weather, warmer weather

Since the Constitution is supreme over all other, if a court decision does not please Congress, ⅔ of Congress can vote to adopt a proposed amendment. The amendment after ¾ of state legislators or ¾ of a convention ratify it. An amendment holds more value than any court decision and amendments can always be used to challenge a court decision.

"How Economic Inequality Harms Societies." Richard Wilkinson:. TED Talks, July 2011. Web. 26 Feb. 2015.

Following the civil war Congress passed three amendments. The Thirteenth Amendment was passed by Congress in January 31, 1865. This states that no form of slavery should exist within the United States. Followed by the Fourteenth Amendment which was passed on June 13, 1866; that states that anyone born or naturalized in the United States cannot be denied life, liberty, and property without due process of law. Nor be denied equal protection of the law. Then the Fifteenth Amendment was passed on February 26, 1869 stating that any citizen of the United States regardless of your race should not be

On Monday, September 17th, 1787 the delegates wrote the final draft of the Constitution and it was signed by 39 of the 55 delegates. In order for it to become law it had to be ratified by 9 of the 13 states. Ratification meant the approval of the document usually by vote. Soon after the Constitution was sent for ratification the nation was split between 2 camps; the Federalists who supported the Constitution and the Anti-Federalists who opposed it.

Wealth inequality in the United States has grown tremendously since 1970. The United States continuously reveals higher rates of inequality as a result of perpetual support for free market capitalism. The high rates of wealth inequality cause the growing financial crisis to persist, lower socio-economic mobility, increase national poverty, and have adverse effects on health and well being.

James Madison, primary author of the Bill or Rights and a Representative, introduced 20 amendments on June 8, 1789. The House of Representatives passed 17 amendments, and then they were sent to the Senate for approval. The Senate in turn altered the 17 amendments into 12 articles. During the 1789 Joint Resolution of Congress, Congress agreed on the 12 amendments. It was then necessary that three-fourths of the states formulated their approval. At that moment, the tenth amendment was previously numbered as the twelfth article. However, since two of the articles were not ratified, the remaining articles were then renumbered and thus, the Tenth Amendment was born on December 15, 1791 with its inclusion in the Bill of Rights.

The few ways to amend the constitution include a 3/4 vote of the state legislators to approve it, and 3/4 vote of ratifying conventions in states to approve it. The constitution has been amended 17 times since the first 10, which emanated from the bill of right. They all include information about the right of people and the regime, and all of them hold democracy as the main point.

The 12th Amendment was introduced by Congress on December 9, 1803 and ratified by the states on June 15, 1804. This amendment was adopted, after the 1800s Presidential Election, to fix a mistake in the Constitution. The 12th amendment replaced the procedure that the Electoral College originally functioned. (1)

To amend the constitution, various steps and procedures must be taken. When either Congress (which takes a two-thirds majority vote in both the Senate and the House of Representatives), or a constitutional convention (which takes two-thirds of the State legislatures) want to propose an amendment, they give it to the National Archives and Records Administration. The Congress proposes the amendment as a joint resolution to the National Archives and Records Administrations Office of the Federal Register for the publication process. The Office of the Federal Register adds legislative notes to the joint resolution and publishes it in slip law format. The Office of the Federal Register also puts together an information package for the States

Every American dreams of finding a job that pays well enough so that they may comfortably take care of their loved ones and themselves for years to come. Most Americans hope to find some way to make a living that they enjoy, something that they view as productive. Unfortunately, many do not have this luxury. In our society, a good portion of the population is forced to hold the base of our country in place while hardly being redeemed for their time and effort, and thus the problem of income inequality. Numbers of these people live from paycheck to paycheck, barely getting by, not because they manage their money poorly, but because the value of their time at work is negligible.

To counter the rising problem of economic equality on a worldwide scale, a global wealth tax is a proposal that has been widely received and considered a feasible solution. This tax, aimed at diminishing the high rate of accumulated wealth by top decile earners, may not achieve its goal because there is limited evidence proving the desired effects, all countries must agree upon a uniform system and share information,