Essay On Rich And Poor People

Essay On Rich And Poor People-41
The impact of stagnant wages has been dulled by rising house prices, but still most Americans are unhappy about the economy.According to the latest Gallup survey, fewer than four out of ten think it is in “excellent” or “good” shape, compared with almost seven out of ten when George Bush took office. Average after-tax income per person, Mr Bush often points out, has risen by more than 8% on his watch, once inflation is taken into account.

The impact of stagnant wages has been dulled by rising house prices, but still most Americans are unhappy about the economy.

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The statistics suggest that the economic boom may fade.

Americans still head to the shops with gusto, but it is falling savings rates and rising debts (made possible by high house prices), not real income growth, that keep their wallets open.

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All over the world, the rich are becoming richer and the poor are becoming poorer. Send us your writing samples for a free band score estimate or get a detailed analysis of your writing for a fee.

Whereas Europeans fret about the way the economic pie is divided, Americans want to join the rich, not soak them.

Eight out of ten, more than anywhere else, believe that though you may start poor, if you work hard, you can make pots of money. The political consensus, therefore, has sought to pursue economic growth rather than the redistribution of income, in keeping with John Kennedy's adage that “a rising tide lifts all boats.” The tide has been rising fast recently.In order to solve the grave problems caused by poverty, the government must take some proper measures.The rich must also show the willingness to share their wealth with the poor.Aeon email newsletters are issued by the not-for-profit, registered charity Aeon Media Group Ltd (Australian Business Number 80 612 076 614).This Email Newsletter Privacy Statement pertains to the personally identifying information you voluntarily submit in the form of your email address to receive our email newsletters More generally, when visiting the Aeon site you should refer to our site Privacy Policy here.After you adjust for inflation, the wages of the typical American worker—the one at the very middle of the income distribution—have risen less than 1% since 2000. If you take into account the value of employee benefits, such as health care, the contrast is a little less stark.But, whatever the measure, it seems clear that only the most skilled workers have seen their pay packets swell much in the current economic expansion.On the other hand, throughout their lives poor people struggle to make both ends meet.The enormous gap in the economic conditions has a lot of ramifications for the growth of a nation.Efforts applied in this direction will have long-term benefits that improve the global ranking of a nation. The gap between rich and poor is bigger than in any other advanced country, but most people are unconcerned.

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