Economic Inequality And Social Class

Question # 00650427
Subject: Economics
Due on: 11/16/2023
Posted On: 11/16/2023 12:32 AM
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Economic Inequality And Social Class

According to  www.Inequality.org Links to an external site.  the income gap between the rich and everyone else has been growing larger and larger over the last 20 years.   Social class is measured by socioeconomic status (SES), an overall rank of people’s positions based on their income, education, and occupation. The Super-rich, rich, and upper classes control most of the wealth in our country, while the middle, working, and working-poor scramble to keep up or just get by. 

Since the super-rich make up 1-2% of the total population lets talk about us. Those of us from upper-middle class backgrounds typically live on incomes which provide economic stability. Many are either in the professions or are managers, often living in dual earner income households. Those of us from middle class backgrounds are even more diverse than the upper-middle class. Many in this class are in semi-skilled jobs and semi-professions. Most families rely on two incomes to maintain a comfortable standard of living. The working class consists of skilled and semiskilled laborers, factory employees, and other blue-collar workers in manual occupations. The lower class is typically made up of unskilled workers or those working in low-paying service economy positions. The working poor work full or part-time and still struggle with their basic bills. The under-class, who occupy the bottom rung of the U.S. socio-economic ladder, rarely work or are chronically unemployed.  These people tend to be persistently poor, segregated residentially, and relatively isolated from the rest of the population.

Visit this website to learn more about INEQUALITY and its impact.   https://inequality.org/ Links to an external site. Now, answer the following two prompts this week:

--Based on what you read and know in your own life, what is your perspective on the growing level of economic inequality in the U.S?   -- How should the U.S. address the growing economic inequality?

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