According to Gregory Mantsios many American people believed that the classes in the United States were irrelevant, that they believed we reside(ed) in a middle class nation, that we were all getting richer together, and that everyone has an equal opportunity to succeed in life. But what many believed, was far from the truth. In reality the middle class of the United States receives a very small amount of the nation 's wealth, and sixty percent of America 's population receives less than 6 percent of the nation 's wealth, while the top 1 percent of the American population receives 34 percent of the total national wealth. In the article Class in America ( 2009), written by Gregory Mantsios informs us that there are some hu
Part 1: Give a general introduction to the problem, including the thesis statement. The thesis statement should present a clearly defined position on a debatable topic.
After the post-war, the government set out to create jobs and rid communism. America was heading towards a capitalist society. At the time, the economy was booming and consumerism gave Americans a life of prosperity and leisure. Americans were able to purchase products only the wealthy could afford. Consumerism de-emphasized class difference and this created the middle class and the beginning of consumerism. The middle class is an important factor to the growth of the economy after the post war. However, the middle class is now fading away and the economy is starting to fall with it.
In the reading of Middle Class Shrinks Further as More Fall Out Instead of Climbing Up, it is very true about the findings about the middle class. Honestly, 35,000 to 100,000 in today’s money are a huge gap differences. This is where now they started calling some individuals upper middle class. The article also, does a great job talking about Social Security. When was brings in Social Security, can a individual who was making 700 every week at Shoprite (which is middle class), at age 64, then retire a 66, and collect Social Security, and only get a paycheck for 600 every week, did they just get moved to lower class? In the reading The Shrinking American Middle Class says age is a big factor, as well as race, family status, and education.
In a country as wealthy as the United States, the 2011 Census Bureau report that approximately 50 million Americans are living below the federally defined poverty line (Abramsky, 54) is absolutely unacceptable. Stagnating middle class wages and increasing income inequality make the “American Dream” more and more unattainable for working class families. The current state of affairs has far-reaching implications. The middle class is the backbone of the economy and as wages stagnate, costs of living increase, the safety net’s efficacy declines, and adequate education becomes more and more inaccessible; patterns of poverty become increasingly insidious. It has become far more challenging to escape poverty simply through hard work. In order to address the tenacious and widespread effects of poverty in a sustainable manner, and prevent an impending economic collapse, the causal factors including public education, jobs and wages, and government aid and assistance must all be improved, as such, I propose the following policies.
Nowadays, the middle class is shrinking, while majority of people are either moving into the lower or upper classes. This is due to the major economic and policy changes that have occurred throughout the past thirty years. Based on the Basic Economy Security Tables, one in four full-time working-age adults are not earning enough income to meet economic needs for themselves or their families. This is a serious problem in America today, the fact that the median income today is six hundred dollars less than it was in 1989 is proof of this epidemic. It is much harder now, than ever, to work your way into the middle class, much less stay there. The percentage income growth since 1967 for the top 5 percent of earners is 88%, top 20 percent of earners grew 70%, and middle-income households only grew 20%. (Camp) In simpler terms, the upper classes income has increased tremendously, while middle-income households have seen very little growth in their income. Since the middle class is not receiving any income growth, it is declining and moving towards the lower class. It is not nearly as easy as it was thirty years ago to get a decent job and make
The middle class is the backbone of American society but when it comes to what defines the middle class there is no sharp and definite answer. According to (book), a middle class family is a family whose annual income is between $ 19,000 and $ 91,000 , or it can be defined as a family that will start to struggle financially after 3 missed pay checks. And according to Suddath (time), a middle class family can afford mortgage payment, college education, car, and other luxury goods.
In Edward McClelland’s essay “RIP, the Middle Class: 1946-2013,” McClelland discusses to his audience that the middle class is slowly vanishing and soon enough we will only be left with the rich and the poor. Throughout the essay, McClelland uses various examples to demonstrate how the middle class will no longer exist. McClelland talks about how education is vital for pursuing a job at a reasonable pay that a person can live off of. Before, people were able to leave high school and go straight into a job with a pay that could support them. Nowadays, the same jobs that were supporting people before require a lot more education and still aren’t giving enough money that will allow them to live comfortably. Even though there are still jobs people can thrive at that will make more money without a serious education , the middle class is struggling to make it economically, because it is harder to find a job without education and financially it’s harder to make ends meet.
In 1978, the economy started suffering in the US, because the middle class was getting weaker, and inequality started increasing. According to Reich, the middle class is directly associated with the economy, because 70 percent of the economy is summoned up of consumer spending. The middle class is the foundation of consumer spending. In the late 1970’s and early 1980’s, wages
Of this group, about 1/3rd belongs to the upper-middle class. The annual income of person belonging to this group is $70-$75,000. The jobs that the typical upper-middle class person holds would have a prestige rating of 65 or higher. 2/3rd?s of the middle-class population is the lower-middle class. White-collared individuals make up the majority of this class, earning anywhere from $30,000 to $60,000 a year. Lower-middle class Americans have a set standard of priorities. They take pride in the fact that they are financially stable, and promote hard work, and press on education. Without education, the members feel that they would not be where they are economically, and preach the importance to their children so that they, too, can live a lifestyle very similar to that of theirs (Norton).
It is a fact that in the US, 50 percent of the wealth is controlled by 1% of the population. But is it really such an unfortunate reality that we would need a system other capitalism to stem the tide of upward movement of wealth distribution. In my view, what is wrong is not the 1 percent's hold on 50 percent of wealth but the resulting decline in middle class that is now a major problem for the US.
When we as human beings are born into this world, there are things that we have control over, and other things that we have no say in. We control what we do with our lives, what schools to attend, what activities to be a part of, and who we marry, for example. This seems to be quite fair, and for the most part, we take it for granted. While we do have these kinds of freedoms, there are other aspects of life that we have no control over. One thing that we are born into, is our social class. No matter who you are, there is a social class that you fall into, and you really have no say in it. The one social class that seems to be the most populated is the middle, or working class. These people usually classify
The article I found describes the issue that the middle class in America is no longer the world’s richest, and compares this issue with other advanced countries. It states that in recent years, middle class families in America were receiving meager raised income than counterparts were around the world, and most of American families were receiving unequally income. Those income data were analyzed by LIS, a group that maintains the Luxembourg Income Study Databases, and by The Upshot, a New York Times website covering policy and politics, and also reviewed by outside-academic economists. The United States used to be a leader of after-tax middle-class income country among all the developed states, but now the other countries,
Globalization is the process by which regional economies, societies, and cultures have become integrated through a global network by transportation, communication, and trade. Through a global lens the process of globalization seems to be vital to the development of the modern world. As a result of globalization there has been a dramatic transition in every aspect of life around the world, more specifically in areas such as trade, immigration, and human development. International trade bolsters sales, lowers the cost of production and consumption, and extends the market reach of any corporation. This is beneficial to America in that consumers are able to buy more goods and services at lower costs and therefore the gross domestic product
The largest group in America is facing extinction. We are talking of course about the American middle class. In 1971 the American middle class population was 36% higher than the population of the lower class. However, today the middle class population is now only 22% higher than the lower class (McDill). This is only a 14% drop spread over 44 years. The major issue here is that while the middle class shrinks, the upper and lower classes are growing. Financial experts believe that soon the middle class will become nonexistent and America will be divided into two extremes, poverty and wealth. This issue has become so severe that the United States government has stepped in and created a “middle class task force” passed as part of the