The Increasing Gap Between Rich And Poor

Topics: Poverty, Wealth, Social security Pages: 8 (755 words) Published: April 20, 2015
 The

Increasing gap between

Rich and poor

----Economic inequality

By
Hu Haoyan
200821167
Tertiary Preparation Studies
Mrs Christine Taylor
ACG Norton College
September 13, 2014

Content Page

---Introduction

---The conflict between rich and poor

---Why this kind of things happened

---How to solve the problem

---Conclusion

1. Introduction

The topic of my report it is “the increasing gap between rich and poor” the reason why I choose this topic it is because I came from a poor family , when I was a child my parents sent me to a noble school , at that time I always had inferiority feel , because when you studied in a place where almost everyone came from a rich family and only you were the poorest , I really do not know how to express my feeling. I always had different value with my classmate. However after few years my parents become successful, we became a quite rich family, but I will never forget the things that I had experienced before. Therefore I want to talk about the increasing gap between rich and poor. Because I had experienced the both situation. On this report I will focuses on the conflict between rich and poor, why this kind of things happened and how to solve this problem.

2. The conflict between rich and poor.
Due to the age of globalization, the gap between high and low income people is not only persisting, but in many cases it is widening. According to (Pew Study) “The strife between rich and poor people is now seen as a bigger issue than other social conflicts, including conflict between immigrants and native-born Americans and tension between black and white Americans” Some people think that people who are wealthy because they were born into wealthy family, others believe that they earned their money because they are hard working and good education. In my personal opinion, the only things that decide people who are successful or not it is how eager they want to success. “Compiled with the help of over 700 global experts, warns against the chronic gap between the incomes of the richest and poorest people. It’ll become the risk that is ‘most likely to cause serious damage globally in the coming decade,’ ”According to World Economic Forum .

3. Why this kind of things happened?
Let’s talk about why this conflict happened. I think that is because poor people and rich see things in different ways. Wealthy people always think that how can I become rich and how to improve myself so that can meet some right people to help me solve this problem . in the contrast , poor people always thinks that why I am not as rich as that successful people , why I were born into the poor family. Therefore different attitude determined different altitude. Moreover“ Most lower- and middle-class earners make their money from wages, which are subject to Social Security, Medicare, federal and state taxes. But income from businesses, capital gains and dividends may be taxed at lower rates. In the CBO study period, the share from capital gains and business income increased, meaning upper-income families reaped greater after-tax benefits just from the kinds of non-wage income they reported. ” Therefore, there are the two main reasons I think why this conflict happened.

4. How to solve this problem?
Last but not least, it is how to solve this problem. We hear that education is the key to a better future and may perhaps shorten that gap between the rich and the poor.

The economists Emmanuel Saez and Thomas Piketty recommend much higher top marginal tax rates on the wealthy, up to 50 percent, or 70 percent or even 90 percent.[181] Ralph Nader, Jeffrey Sachs, the United Front Against Austerity, among others, call for a...

Bibliography: (http://rt.com/business/world-economic-forum-inequality-754/)
(http://www.reuters.com/article/2011/10/28/us-usa-wallstreet-cboreport-idUSTRE79R3XR20111028)
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