Where does all the Money go?
(An examination of the differences between the rich and poor discussed in Reich’s work)
Money, money, money, it seems to be the only thing on the minds or Americans. We hear about it in songs, read about it in magazines, and even see it on television. It’s one of the top issues that Americans discuss. It not only is publicized everywhere, but it deals with the personal lives of all Americans. Some people say that money isn’t really all that important, but they couldn’t be more wrong when they begin their lives and are financially responsible for themselves. The money we make at our jobs correlate to the lives we live. Robert B. Reich discusses money and it’s different financial situations in the work of …show more content…
Along with the obvious difference in salaries, there is also a difference in the lifestyles these people live. There is an evident gap between the rich and poor, which Reich discussed in his work. The routine workers and the in-person servers, that still have jobs, don’t get paid well. They usually make minimum wage and very rarely receive benefits like insurance, health care, disability, etc., (para. 19). This is mirrored in Gallaway’s article as he deliberates over issues with the poor. “Roughly 38 million Americans, about one of every seven, are officially classified as poor by the U.S. government, and this number is increasing,” (Gallaway). That number is growing, and will continue to grow as long as we continue to outsource work to other nations and lay off the American workers that are working in factories. Although there are roughly 38 million Americans in poverty, according to Gallaway, America is still one of the wealthiest countries. Hiroko Tabuchi, in his article, converses about the wealth in America. “The United States is set to remain by far the wealthiest country with aggregate wealth of over $114 trillion in 2019” (Tabuchi). He confirms for us that America is indeed a very wealthy nation, even if only part of that nation holds a vast majority of that wealth. He later goes on to say, “Much of the growing wealth in …show more content…
After reading Robert Reich’s work and looking over information presented by other writers, I’ve come to the conclusion that yes, the rich will continue to get richer while the poor in turn get poorer. In Reich’s work of Why the Rich are Getting Richer and the Poor, Poorer, he addresses why the rich are indeed getting richer. There is a direct correlation between the money you will attain as an adult to the schooling you have completed. Reich says that if you dropped out of high school, or have no more than a high school diploma, don’t expect a high paying job with benefits to be waiting for you, (para. 15). The more educated you are, the better the chances you have of getting a job that pays well. This is reiterated by a study done on education completion and your financial status. “The gap in bachelor-degree attainment between the nation's richest and poorest students has doubled during the last four decades…yet for low-income students, cost of college often means making a difficult choice between fulfilling basic food and housing needs and obtaining a post-secondary education…It's a continuous cycle that they get stuck in,” (Study: College completion gap between rich, poor widens). The information provided in this article shows us that students aren’t attaining their bachelor degrees, which leads to a lower paying job.
(An examination of the differences between the rich and poor discussed in Reich’s work)
Money, money, money, it seems to be the only thing on the minds or Americans. We hear about it in songs, read about it in magazines, and even see it on television. It’s one of the top issues that Americans discuss. It not only is publicized everywhere, but it deals with the personal lives of all Americans. Some people say that money isn’t really all that important, but they couldn’t be more wrong when they begin their lives and are financially responsible for themselves. The money we make at our jobs correlate to the lives we live. Robert B. Reich discusses money and it’s different financial situations in the work of …show more content…
Along with the obvious difference in salaries, there is also a difference in the lifestyles these people live. There is an evident gap between the rich and poor, which Reich discussed in his work. The routine workers and the in-person servers, that still have jobs, don’t get paid well. They usually make minimum wage and very rarely receive benefits like insurance, health care, disability, etc., (para. 19). This is mirrored in Gallaway’s article as he deliberates over issues with the poor. “Roughly 38 million Americans, about one of every seven, are officially classified as poor by the U.S. government, and this number is increasing,” (Gallaway). That number is growing, and will continue to grow as long as we continue to outsource work to other nations and lay off the American workers that are working in factories. Although there are roughly 38 million Americans in poverty, according to Gallaway, America is still one of the wealthiest countries. Hiroko Tabuchi, in his article, converses about the wealth in America. “The United States is set to remain by far the wealthiest country with aggregate wealth of over $114 trillion in 2019” (Tabuchi). He confirms for us that America is indeed a very wealthy nation, even if only part of that nation holds a vast majority of that wealth. He later goes on to say, “Much of the growing wealth in …show more content…
After reading Robert Reich’s work and looking over information presented by other writers, I’ve come to the conclusion that yes, the rich will continue to get richer while the poor in turn get poorer. In Reich’s work of Why the Rich are Getting Richer and the Poor, Poorer, he addresses why the rich are indeed getting richer. There is a direct correlation between the money you will attain as an adult to the schooling you have completed. Reich says that if you dropped out of high school, or have no more than a high school diploma, don’t expect a high paying job with benefits to be waiting for you, (para. 15). The more educated you are, the better the chances you have of getting a job that pays well. This is reiterated by a study done on education completion and your financial status. “The gap in bachelor-degree attainment between the nation's richest and poorest students has doubled during the last four decades…yet for low-income students, cost of college often means making a difficult choice between fulfilling basic food and housing needs and obtaining a post-secondary education…It's a continuous cycle that they get stuck in,” (Study: College completion gap between rich, poor widens). The information provided in this article shows us that students aren’t attaining their bachelor degrees, which leads to a lower paying job.