Essay On Rich And Poor People

Essay On Rich And Poor People-75
This huge income disparity between the rich and the poor has numerous negative impacts on the society.

This huge income disparity between the rich and the poor has numerous negative impacts on the society.

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The fruits of productivity gains have been skewed towards the highest earners, and towards companies, whose profits have reached record levels as a share of .

Even in a country that tolerates inequality, political consequences follow when the rising tide raises too few boats.

Apart from this, extreme poverty results in an increased crime rate, as individuals putting genuine efforts to raise their living standards get de-moralized when they realize the difference between their living standards and those of rich people.

They draw the conclusion that the only way to get richer is by wrong and illegal means.

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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.A bust of some kind could lead to widespread political disaffection.Eventually, the country's social fabric could stretch.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.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.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.“If things carry on like this for long enough,” muses one insider, “we are going to end up like Brazil”—a country notorious for the concentration of its income and wealth. Despite a quarter century during which incomes have drifted ever farther apart, the distribution of wealth has remained remarkably stable.The richest Americans now earn as big a share of overall income as they did a century ago (see chart 2), but their share of overall wealth is much lower.

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