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Essay / Research Paper Abstract
A 5 page research paper/essay, which includes a brief outline of the essay, that addresses wealth disparities in the US. This examination of the extremely wealthy and extremely poor attempts to examine the influences on the fiscal situation of each group that evolve from the dynamics of American culture. Bibliography lists 7 sources.
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5 pages (~225 words per page)
File: D0_khbilpov.rtf
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of each group that evolve from the dynamics of American culture. 1) Lifestyle of billionaires i) Yachts ii) Motivation 2) Politics of wealth i) Minimum wage earners need a
raise Conclusion : Money appears to equate to political power and in a democratic and presumably egalitarian society, this is unjust. In an ideal democracy, elected representatives would consider the
needs of all citizens, and then also take into consideration fiscal responsibility in regards to the economy as a whole. It appears that Congress accomplished neither of these consideration in
passing the new minimum wage bill by tying it to further tax cuts. US Economic Life/Billionaires & Poverty The financial situation of the richest Americans has been steadily improving
at a much faster rate than that of either the middle-class or the poor (Kratz and Burke 81). Those fortunate few who are in the top 10 percent of
the income scale have seen their net work "increase almost 60 percent since 1998, compared with little change among the bottom 40 percent" (Kratz and Burke 81). In fact, in
terms of real buying power, the situation of the poor has declined, as the income of minimum wage earners is at its lowest point in 50 years, due to the
fact that the minimum wage has been frozen at $5.15 an hour since 1997 (AFL-CIO). The following examination of the extremely wealthy and extremely poor attempts to examine the influences
on the fiscal situation of each group that evolve from the dynamics of American culture. The lifestyle of the worlds billionaires goes beyond the scope of the wildest imaginings of
most people. To consider the scope of the wealth encompassed by this elite group of people, consider just one area of their lifestyle-their toys, specifically their yachts. Twenty years ago,
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