George H. W. Bush 's Administration

1131 Words Oct 5th, 2016 5 Pages
“You’re fired,” the first thing an employee hears in his/her job at a real estate company in 2008 without knowing the cause while his/her CEO gets a massive raise. Ever since the subprime mortgage crisis occurred in 2008, which left a multitude of people without a stable, well-paying job, CEOs and other executives in the United States have been making gargantuan amounts of money from their respective companies while laying off workers. For example, according to From Beyond Outrage written by Robert B. Reich, “The chairman of Merck took home $17.9 million in 2010, as Merck laid off sixteen thousand workers and announced layoffs of twenty-eight thousand more.” and that is not just “worrisome, but also outrageous.” However, this paramount issue did not begin in the twenty-first century, but in the late 1980’s. During this time, George H. W. Bush’s Administration had utilized the concept of trickle-down economics that was implemented by the Reagan Administration, and, as a result, helped to create a growing gap in wealth in the U.S. Furthermore, this expanding gap has led to growth in poverty as well as the constant growth of the power of the upper class in which the author Gregory Mantsios, who wrote Class in Americaㅡ2012, wanted to clarify the myths and truths within the United States social hierarchy in order to explain the need to strengthen the middle class. In the contemporary United States, Mantsios describes that the lifestyles of individuals depend on several factors,…

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