Social Differences Between Rich And Wealth

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Since the beginning of civilization there has been the distinct difference between the rich and the poor. In rural areas, people who owned land or possessed large amounts of cattle were considered rich. The children of the rich undoubtedly anticipated inheriting these possessions so they could have the best and maintain an above average lifestyle. Depending on the person’s religious background, the number of wives, one man had determined his status. The less fortunate or the poor, barely had any land or owned no land at all. Sometimes owning more than a few cattle was a luxury. Their children inherit little or nothing. Consequently, they marry a lowly wife or cannot find a wife. These are only a few historical examples of how the differences …show more content…
Social class is a group of with similar levels of wealth, influence, and status. Federal Reserve Chair Janet Yellen reports that the wealthiest 5 percent held 54 percent of the wealth in the United States in 1989, it was 61 percent in 2010, and 63 percent in 2013 ( qtd.Woolhouse ). They live in exclusive neighborhoods and have a major influence in our nation. Wealth is an abundance of valuable possessions or money. The wealthy socialize, entertain, and keep company with other wealthy people because they tend to live in the same neighborhoods, attend the same functions, and surround themselves with those who share the same social status. The poor equals 8.4 percent of the American population. Even though the poor are the majority, the lack of affordable resources places the poor in the lowest social class. Settling for substandard housing, which in most cases is all a poor person can afford, or homelessness ( not having a regular dwelling with family members, or even living on the streets), affects the ability to obtain wealth for most of the poor. The lower social class, the poor, work because they need to unlike the upper social class, the rich, who may work because they want

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