I have never thought about the way wealth is distributed in the U.S. until you showed us the chart where it talked about how much the top 1% make compared to the rest of the U.S. the numbers were staggering. I would have never believed that a small amount of the population could account for so much of the wealth in the United States. This wasn’t even the worse; the gap between the rich and the working class just keeps on growing and growing. “The bottom 80% of the population combines for only 4.7% of the wealth compared to the next 20% of the population combines for 95.3% of the wealth.” (Gooch). Soon more and more of the working class population are going to be in poverty. If this gap keeps on growing “by 2017 just next year, the richest 1%
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Right now the lowest minimum wage paid in the U.S. is $7.25 an hour. Say you work 40 hours a week and get paid every two weeks your paycheck will come out to a whopping $580 this doesn’t even take into account taxes. If taxes are included you will be getting even less money. There is no way that someone can live comfortable under these conditions. The argument that is often used to say why the minimum wage should stay at $7.25 an hour is that according to Cato Institute “In the previous federal minimum wage increase from $5.15 to $7.25, only 15 percent of the workers who were expected to gain from it lived in poor households. If the minimum wage were today raised to $9.50, only 11 percent of workers who would gain live in poor households.” (Reasons Not to Raise Minimum Wage). In this argument, they say that increasing the minimum wage to $9.50 would only be a 4 percent increase in workers who would gain from it living in poor households. They make it seem that his is only a little increase but I see it as a significant increase. The minimum wage should actually be at $22 dollars an hour because of inflation when there is an increase in prices people salaries should be going up. So if you compare the $22 to the $9.50 you can only imagine how much the percent increase for workers who gain from it living in poor households would …show more content…
Or that it involves ‘the idea of limited government, the maintenance of the rule of law the wealth might still not be distributed fairly” (983). Which is wrong libertarianism just believes that the government doesn’t have to worry about other people’s needs but that people can provide for themselves. Another objection is that people believe that the distribution of wealth still won’t be distributed evenly because people that play professional sports will most likely get paid more than kindergarten teachers or soldiers that go out and fight for the U.S. This all has to do with the free market it all depends on how people want to spend their money. If people decide that they would rather spend their money on watching athletes play sports they should have the right to do so, they also have the right to donate to soldiers
Right now the lowest minimum wage paid in the U.S. is $7.25 an hour. Say you work 40 hours a week and get paid every two weeks your paycheck will come out to a whopping $580 this doesn’t even take into account taxes. If taxes are included you will be getting even less money. There is no way that someone can live comfortable under these conditions. The argument that is often used to say why the minimum wage should stay at $7.25 an hour is that according to Cato Institute “In the previous federal minimum wage increase from $5.15 to $7.25, only 15 percent of the workers who were expected to gain from it lived in poor households. If the minimum wage were today raised to $9.50, only 11 percent of workers who would gain live in poor households.” (Reasons Not to Raise Minimum Wage). In this argument, they say that increasing the minimum wage to $9.50 would only be a 4 percent increase in workers who would gain from it living in poor households. They make it seem that his is only a little increase but I see it as a significant increase. The minimum wage should actually be at $22 dollars an hour because of inflation when there is an increase in prices people salaries should be going up. So if you compare the $22 to the $9.50 you can only imagine how much the percent increase for workers who gain from it living in poor households would …show more content…
Or that it involves ‘the idea of limited government, the maintenance of the rule of law the wealth might still not be distributed fairly” (983). Which is wrong libertarianism just believes that the government doesn’t have to worry about other people’s needs but that people can provide for themselves. Another objection is that people believe that the distribution of wealth still won’t be distributed evenly because people that play professional sports will most likely get paid more than kindergarten teachers or soldiers that go out and fight for the U.S. This all has to do with the free market it all depends on how people want to spend their money. If people decide that they would rather spend their money on watching athletes play sports they should have the right to do so, they also have the right to donate to soldiers