Blog Update! Let’s talk about income inequality and its link to poverty.
Income inequality has a strong link to poverty throughout the world. A disparity in income distribution creates a wide gap in income levels between the rich and poor. During times of economic distress when the rich continue to get richer and the poor continue to get poorer the gap widens and many working class citizens are forced into poverty. As income levels stay stagnant or decrease for the average working class citizen they continue their slide down the slippery slope into poverty, but yet the rich increasingly become wealthier. The rising costs of consumer goods ie: food, clothing, housing, etc continues to place the average working class citizen into this situation because their pay does not increase with the rising costs of consumer goods and services. The rich person does not have to worry about rising costs of consumer goods because their endless bucket of gold will protect them from being forced into poverty.
I completely agree with what you said about consumer goods becoming more expensive and incomes not increasing as well. It makes it hard for a person who works 40 hours a week to get by, while those big shot CEOs live in million dollar houses and most middle class people are loosing theirs. Its sad, but honestly things will never change because people are greedy and always want more more more, and will never want to share share share...
ReplyDeleteI dont know if I agree with the post very much Keith... Yes, there are many wealthy people who do not have to worry about the hard economic times, but how can we punish someone for making millions when they might or might not have worked their butt's off in school, and throughout life to attain all of the riches they have.
ReplyDeleteGood Post
ReplyDeleteI believe that wealth is a relative term, that, I'm sure most can agree upon. The question I like to ask people is how much money would they need to have to consider yourself rich. This is a quote from an NPR piece describing my point "thesort-of rich are those who make more than $100,000; therich -- those in the top 1 percent -- earn more than $360,000; andstinking rich -- those in the .01 percent -- make more than $1 million."
Here's a link to the article:
http://www.gpb.org/news/2010/09/23/superrich-drive-income-inequality
The article touches on the causes for the inequality as being education and the loss of what I call low skilled jobs, due in part to the shrinking manufacturing sector.
I do agree with your point about the price of goods. I recently read an article regarding how we are now at the beginning of the downward slope of the inexpensive food that we have grown accustomed to. Things like this have been stated before and never really came to pass but I can't help but think that if the price of food did start to to become a bigger problem than the income inequality could result in even worse poverty within the U.S. and abroad.
Your absolutely correct about the rich staying rich and the huge gap between the rich and the poor. The saddest part about all of this is that there doesn't seem to be any change coming anytime soon. They can tax the rich, but that will not help the poor/ lower income Americans out of this depression.
ReplyDelete