Wealth and Power in the United States

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Wealth and Power in the United States
Hugo Lindgren

Chief Editor

New York Time Magazine

nytnews@nytimes.com

This letter is to inform the public of how social class division is related to the concentration of wealth in

the United States and support the need to redistribute wealth in America. Today our communities are

divided by social class poor citizens live in poor areas of the community while citizens who make more

money live in better areas of the community. Social class determines a great deal about citizens

circumstances. Circumstances like education, health care, shelter, food and clothing. Generally the

wealthiest or privileged citizens only associate themselves with other citizens who are in the same social

class. The same concept comes into play with the middle, working and poor class. Today the top 1

percent is increasing in wealth while the middle and working class are decreasing. This inequality of

wealth in America is becoming more and more of a problem for the middle and working class.

Wealth is the positive value of what a citizen owns. For example if a citizen owns a house the bank

may own half of the house until the loan is paid off but whatever the value is of the other half is how much

wealth the citizen has from the house. Redistribution of wealth is raising taxes on citizens that have

already made it to provide relief for the ones who haven’t. The Class theories best describes the

distribution of wealth because it breaks down how the wealth is broken up amongst citizens of the United

States.

The rich have done much better than the middle or working class. The Top 1 percent had 22.9 percent

of national income in 2006 a number that hasn’t been matched since 1929 said CBS News Jeff Green in

America’s Class Warfare. While a citizen from the top 1 percent has already achieved success, wealth

and power. The middle and working class has not and with a constant increase in cash flow for the

wealthy and a constant decrease in cash flow for the less fortunate come a concern for those in public

office. President Obama proposes lowering taxes for the less fortunate and a small increase for the

citizens who have achieved success with wealth and power. However, other Officials have opposed

President Obama’s approach to redistributing wealth. Mitt Romney stated “I think it’s about envy, I think

it’s about class warfare When you have a president encouraging the idea of dividing America based on 99

percent vs. 1 percent those people who have been most successful will be in the 1 percent you’ve

opened up a whole new wave of approach to this country which is entirely inconsistent with concept of

one nation under god”. President Obama insists that by helping others will spread the wealth by having

the rich pay a little more taxes so the middle class receive a tax credit because the middle class needs it

most (Obama, 08). President Obama stated “I believe in redistribution at least at a certain level to make

sure that everybody’s got a shot” Everyone has the chance to maintain a roof over their heads and send

their kids to college. Everybody that works hard can make it.

Social class segregation is visible in all 52 states of America. Upper, middle and working classes have

their own geographical residential areas within communities. Ethnic segregation begins within the social

class groups because the majority of working and poor classes of Americans are minorities. The high

class and elites are mostly white Americans. Therefore, geographically America is in fact more divided by

this social class system. In 2006 10 percent of whites have been recorded as being below the poverty line

while 24 percent of blacks remain below the poverty line (Harrison & Dye, 2010). In 2010 the top 1

percent had a 35.4 percentage over the bottom 80 percent with...
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