Global Wealth Inequality Analysis

Globalization has both a positive and negative impact throughout the world and society today. The negative aspects of globalization can be seen as inequalities spread throughout the world today. Having the chance to travel to so many countries, I have gotten the experience to see and analyze the wealth inequality in all the different countries from the United States, to the Caribbeans, and parts of Europe. When someone thinks of global inequality, they can think of racial segregations when traveling to different countries and are in the present of different cultures and societies. However, it is not just racial segregation, but there are also religious and sexist beliefs that come from different cultures and countries. For example, in some …show more content…
The statistics came from a reliable source from United Nations. It is hard not to visualize the real problems we are facing. I was absolutely in shock after hearing the statistics. The fact that there are seven billion people in the world and 80% of them barely have any wealth. The richest two percent have more wealth than half of the rest of the world. The world 's total wealth is about 223 trillion dollars. Another crazy statistic is the fact that the richest 300 people on earth have the same amount of wealth as the poorest three billion people. There is a huge gap that is only growing more and more between the rich places versus the majority of the world. Large corporations are taking more than 900 billion dollars out of poor countries each year through a form of tax avoidance called trade mispricing. Also each year, poor countries pay about 600 billion dollars in debt service to rich countries. In addition, money poor countries lose from trade rules imposed by rich countries to get access to more resources and cheaper labor. This cost poor countries 500 billion dollars every year. Altogether, two trillion dollars flow out of the poorest parts of the world to the richest part, each year. (https://www.youtube.com/watch?v=uWSxzjyMNpU) It also should be mentioned that people are held back by their religions and suppression of the intelligence and skills available to …show more content…
The economic inequality has steadily risen in the United States between the richest people and the poorest people. Not only does this inequality affect the people in more ways than buying power would, it affects education, life expectancy, living conditions and possibly happiness. Everybody has to pay taxes whether they like it or not. Not everybody understands that it is just a part of what keeps this country going. Not only do taxes pay for everyone 's national security but keep the streets clean, driving and the most important thing is that it helps provide free education. What a major issue and problem are that some people have to pay fewer taxes than others and the rich are getting tax breaks. No matter what action is done, there still will not be enough to increase the taxes on the rich. Even a 5% increase is not enough and the rich will continue to get richer. Tuition in America for college has risen faster than the majority of parent’s income. This gives the poor even less of a chance to receive a higher education. Yes, the United States provides less help to the poor but it is no help. It still provides the poor with public housing and welfare. The worst and the sad part is that many people take advantage of the welfare system and cheat it. People who truly need the government 's help are denied because of the majority cheating the system. Having the chance to work in a public grocery store for three

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