Preview

rich getting richer

Good Essays
Open Document
Open Document
334 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
rich getting richer
In the article, “Why the Rich Are Getting Richer and the Poor, Poorer” Robert Reich uses examples of rising and falling boats to explain the difference between the rich and the poor, one sinking rapidly, one sinking more slowly, and the third rising steadily.
The boat sinking rapidly contains routine producers “production workers”. They are being replaced with immigrants for lower pay if not being outsourced to 3rd world countries

The second boat that is sinking slowly held in-person servers, “minimum wage workers” such as cashiers, bank tellers, and telephone operator which are being replaced with robots and other automated machines.

The third boat that is rising contains the symbolic analysts “America’s smart people”, scientist, artists, politicians, est. (But I don’t know why) “Nickel and Dimed” by Barbara Ehrenreich is a good example of the rich getting richer. She takes a low-wage, very demanding, degrading house cleaning job with strict rules such as no drinking, eating or gum chewing in the house or cursing even if the owner wasn’t present. The job gets more difficult, both physically and mentally, as the days go by. The schedule makes it difficult for anyone to even get a 30 minute lunch break, so it is usually a bag of potato chips from the local convenience store. All while the company makes $25 an hour per person and the workers only get $6.65 per hour.

The middle and lower classes of workers are now working harder for less money, while the upper classes money is actually growing exponentially. In the last decade since the dot com collapse, 65 percent of economic growth was experienced solely by the top one percent richest people in the country. As recently as 2012, that percentage grew to a surprising 93 percent. http://www.washingtonpost.com/opinions/concentrated-wealth-is-a-long-term-threat-to-america/2012/03/27/gIQAMJt1eS_print.html All these factors play a part in the economic gap in our country it is increasingly more

You May Also Find These Documents Helpful

  • Good Essays

    Over a 9-year period between 1989 and 1998, “[...] the proportion of net worth owned by the top 1 percent [...] rose from 30 percent to more than 34 percent [while...] those in the bottom 90 percent declined from 33 percent to just over 30 percent” (Ciment). Wealth is gradually shifting towards the few and affluent at the expense of the numerous poor due to the increased power of corporations and the rich. The rich and their corporations are able to influence the way money circulates, allowing more money to be diverted to them from the lower and middle classes. This creates the basis as to why the rich continue accumulating wealth while the rest of the populace loses it. Additionally, the rich earn money faster than everyone else, giving them an advantage after recessions.“93 per cent of the income gains in the first official year of economic recovery went to the top one per cent [in terms of wealth] in the US” (Jones). Despite the recent economic gains, most of the population is not benefited by them, with the rich having the largest gains. The poor and middle classes’ incomes remain stagnant or even decrease, highlighting the great disparity between the rich and everyone else. When economic gains are made, money only goes to certain groups, leaving others the same or worse…

    • 1142 Words
    • 5 Pages
    Good Essays
  • Good Essays

    This is shown in the fact that 68.7 percent of the world’s population only holds three percent of the wealth in the world and only 8.4 percent of the world’s population has 83.3 percent of the wealth of the world (Doc 6). The 68.7 percent of the world with the least amount of money often works in factories for very low wages, these factories being owned by the most wealthy. This relates to how those who get ahead have to step on others, with the wealthy exploiting the poor for their wealth.…

    • 477 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Median wages have been flat for decade or more. The quality of available jobs is declining, with a shift toward part-time and contingent work. while the Great Recession intensified these trends and added a staggering loss of housing wealth, the problems go further back and are far more systemic. In 1970s, the united state saw the growth of the country's middle class, with plenty of job prospects and economic conditions that generate business opportunities. Later on step by step that great middle class started to die out. In the article “RIP, Middle Class: 1946-2013” by Edward McClelland, the author discussed the factor that resulted of the failure of the middle class, he also said that the decline of the middle class resulted from the failure of the government policies, the failure of government to protect the interests of ordinary Americans to achieve and hold onto a middle-class standard of living. In the article, the author was so clever about his title because the title has that attention-getting element. Also he used lots of fact and dates to make the audience on his side (MacClelland…

    • 746 Words
    • 3 Pages
    Good Essays
  • Good Essays

    The exponentially growing gap that separates the affluent from the rest of society in America has become a truly daunting statistic. According to data collected by the IRS, the World Top Economics Database asserted that in 2010, the top .01%, which calculates into one in 10,000 people, held a 4.6% share of that year’s income. The average income of $24 million per individual in the top .01% is $23,970,000 more than the average income of the bottom 90%, which is $30,000. In the subsequent parts of this paper I aim to analyze the grounds of extreme income inequality as well as the severity of the consequences that it has on the economy and the American people.…

    • 508 Words
    • 2 Pages
    Good Essays
  • Powerful Essays

    Recently with the Presidential election campaign, a lot was said about the difference between the middle class and the rich. Especially with the tax cuts issue where tax cuts are being wanted for the middle class and the wealthy shall not be given any cuts. Any household that is earning anything more than $1 million per year should not be paying lesser income tax than what a middle class family does.…

    • 1169 Words
    • 5 Pages
    Powerful Essays
  • Best Essays

    In today’s capitalist economy, where economic transactions and business in general is centered on self-interest, there is a natural tendency for some people to make more than others. That is the basis for the “American Dream,” where people, if they worked hard, could make money proportional to their effort. However, what happens when this natural occurrence grows disproportional in its allocation of wealth within a society? The resulting issue becomes income inequality. Where a small portion of the population, own the majority of the wealth and the majority of the population own only a fraction of what the rich own. This prominent issue has always been the subject of social tension from even before the French Revolution and spawns numerous other social issues in a society. In the more recent Occupy Movement, beginning in 2011, protesters used income inequality as a motive. Moreover, they were justified in doing so. In a 2010 statistic, it was revealed that the top 1% of America, own 35% of the wealth while the lower 80%, over the majority of the population, only have 11% of the nation’s wealth distributed between them. Financially the situation is even worse where the bottom 80% own only 5% of the financial wealth and the top 1% own 42% of the Nation’s financial wealth. Not to say the top 1% didn’t work hard to get to where they are, but according to the ideals of the “American Dream,” the top 1% should have worked 243 times harder than the average, not the poorest, worker in America. This extreme of disproportional wealth distribution is not only a source of social conflict, but a catalyst for various other problems that exist.…

    • 1528 Words
    • 5 Pages
    Best Essays
  • Good Essays

    In the article “The Rich Are Different from You and Me,” author Chrystia Freeland explains the rising phenomenon of income inequality that is occurring between the richest top 10% and bottom 90% of the population. Chrystia Freeland states “In every society, some people are richer than others, but across time and geography, the gap between the rich and the rest has widely varied. The reality today is that the rich-especially the very, very rich- are vaulting ahead of everyone else” (51). Between the years of 2002 and 2007, income statistics show that the gap between the richest 10% and the bottom 90% of the population had significantly increased. Statistics also show that by 2007, approximately 35% of the wealth was maintained by the top 10%, leaving about 27% of wealth to the bottom 90% of the population. This is about an 8% gap in between. The last time income inequality was this high was in the 1920’s, but back then only 20% of wealth was gained from work. Today the top 10% gains at least 60% of their wealth from work, rather than inheritance. As economies throughout the world mature, income inequality will continue to rise. The gap between the rich and all others is primarily found in United States. Other countries such as Canada, China, and the United Kingdom are beginning to see income inequality as well. Freeland also states that “These global super- rich work and play together” (52). They share common interests such as business traveling, and vacationing around the world. Due to the common interests shared by others most like themselves, they have become separated from all others within the population, and have formed their own world governed by plutocracy. Author Chrystia Freeland is concerned that because the rich are so caught up in their world of wealth that they will not recognize that other…

    • 385 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Throughout the Article, Robert Reich talks about the growing gap between the upper half of society and the lower half of society. The main narrator of this article is the author, Robert Reich who is telling a story about America’s social classes. Reich uses a metaphor to explain how the economy is going down and up for the rich and the poor. He says that it’s a boat we’re all in, “one sinking rapidly one sinking more slowly and the third rising steadily” (1). Reich is referring to the three social classes, the lower class, the middle class, and the upper class. The lower class keeps getting poorer because of job loss, due to more automation and competition from other countries…

    • 499 Words
    • 2 Pages
    Good Essays
  • Satisfactory Essays

    Class in America

    • 570 Words
    • 3 Pages

    Myth 3: We are all getting richer. The American public as a whole is steadily moving up the economic ladder, and each generation propels itself to greater economic well-being...…

    • 570 Words
    • 3 Pages
    Satisfactory Essays
  • Better Essays

    Reich describes the first boat in his metaphor by stating that, “the boat containing routine producers is sinking rapidly” (Reich 422). The theme behind this metaphor is that the demand for production workers is rapidly decreasing. At one point in time, production workers were in high demand, and paid very well as a result. The introduction of more inexpensive alternatives such as the international market and state of the art machines resulted in many of the production workers losing their jobs, and subsequently being forced into extreme poverty. The international market allowed corporations to find other workers around the globe who were willing to do the same amount of work as their American counterparts at a fraction of the cost. Many businesses choose to move production to whichever country has the cheapest laborers, such as AT&T who has moved assembly lines from Louisiana to Singapore and then finally to Thailand (Reich 423). The common…

    • 1475 Words
    • 6 Pages
    Better Essays
  • Good Essays

    In the world, there has always been a gap between rich and poor; however, in her book Plutocrats, Chrystia Freeland demonstrates that within the past few decades, the gap has grown significantly wider. The rich are becoming wealthier at such rapid speed that the middle class is being squeezed out. While the top ten percent of Americans on the income distribution receive more than half of the nation's income, Freeland demonstrates that it is actually the wealthiest 0.1 percent of citizens who are outpacing the rest of society the fastest, consequently refining what it means to be rich in the 21st century. These self-made oligarchs belong to a transglobal community and admit to having more in common with one another than they do with the rest of society. So what is driving this profound shift in income inequality, and how can we fix it?…

    • 881 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Hard Working Stereotypes

    • 1969 Words
    • 8 Pages

    In the book ‘America’s Poor and the Great Recession’ by Kristin S. Seefeldt and John D. Graham, the reasoning that in a post-recession world, having two sections of an extreme poor and an extreme rich are becoming commonplace. The book talked about how the recession was just a reaction to how much power the 1% are getting, and how their recklessness caused an economic crisis America hadn’t seen since the 1930’s. In conclusion, the authors came to the answer that not only is becoming easier to fall into the hole of poverty, it’s becoming harder to climb out, and all because of the higher-ups. It may be because the middle class are afraid to fall into the hole of poverty themselves, and the myth makes them more comfortable, knowing that they are not “lazy”, or “undereducated”. The upper class, on the other hand, might be trying to deflect the blame. “It’s not OUR fault!”, they…

    • 1969 Words
    • 8 Pages
    Good Essays
  • Better Essays

    Some causes could be Wall Street greed, political shifts, the great recession of 2008, deregulation, voter suppression, and even technological advances, but a large contributor is the income gap. Since the 1970’s, wages have remained relatively stagnant, at least for the poor and middle class. However, the average annual earnings of the top 1 percent of wage earners grew 156 percent from 1979 to 2007; for the top 0.1 percent they grew 362 percent (Sabadish 1). Concurringly, in comparison “earners in the 90th to 95th percentiles had wage growth of 34 percent, less than a tenth as much as those in the top 0.1 percent tier. Workers in the bottom 90 percent had the weakest wage growth, at 17 percent from 1979 to 2007” (Sabadish 1). Again, the income gap contributes to the wealth gap in that the people near the bottom have less money available to save and…

    • 2234 Words
    • 9 Pages
    Better Essays
  • Good Essays

    Cited: Reich, Robert B. "Why the Rich Are Getting Richer and the Poor, Poorer." A World Of Ideas, Ed. Lee A. Jacobus. Boston: Bedford Books, 1998. 251-275.…

    • 993 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Women's Pay Gap

    • 666 Words
    • 3 Pages

    gap is simply based on the different choices women and men make in their careers. According to…

    • 666 Words
    • 3 Pages
    Good Essays