Income In The United States Today
Talking about money is hard for some people. Asking for money is even harder. People are afraid to deal with money issue. We as people have a hard time confronting our problems and would rather run away from them instead of face them head on. Money is all about behavior. Wealth isn’t evil but if you become obsessed with the idea of it you become a slave. Money is simply an object, yet we let it consume us so much that it changes our behavior and sometimes makes us feel insecure. Money’s not a peace of mind. Money is not happiness. Most people have a flawed view of money. Half of Americans have more credit card debt than savings. Some people don’t even realize their being underpaid. In a New York Times article somebody was asked what were the requirements to be middle class, they said you needed to have a secure job with the ability to save money. Money gives you a sense of where you are compared to everyone else, which in a sense is good but it’s also addicting because than your always going to compare yourself to others which can be unstable and effect your emotions.
The middle class is shrinking, about half of adults live in middle-class households. The wealth gap between upper, middle, and lower class families were at the highest record level in 2016. Twenty five percent of U.S. workers make less than ten dollars per hour. The rich have only gained more money since the recovery of the 2008 financial crisis. From 2000-2006 the number of Americans that were in poverty went up fifteen percent. Annual income was less than $20,600. Most low wage workers didn’t have health insurance, pension, or sick days. Income inequality is blamed on the cheap labor in China. Corporations are often blamed for putting profits ahead of workers. Due to that the United States had lost 20% of its factory jobs since 2000. Which were the higher paying union jobs.
The Federal Reserve is also part of the blame. Low interest rates were supposed to make homes more affordable. But housing prices have leveled off in recent years which makes the average person in America not have enough income to buy a house, more so for younger people who want new households. Without a steady job they get stuck living at home. The U.S income inequality can be due to the shift in global marketplace, which results in wealth shifting from the United States to other countries. Investing in human capital is the best way to increase individual wealth and improve labor forces. Equity in education would be able to bring people up to a minimum standard. In 2017, household income in the U.S rose and poverty declined. But inequality got worse due to race, gender, and income distribution. Median earning rose 3% while the women’s rose 0.2%. Black household income went down 0.2%, while white non-Hispanic income rose 2.6%. Overall American unemployment rate is the lowest in almost five decades.
President Donald Trump said he’d raise the wages of America’s “forgotten man and women.” Trump’s tax cuts that were implemented in 2018 may further boost growth, but his trade policy remains a risk for the economy, creating uncertainty for employment. On June 10th, 1963, the Equal Pay Act was signed into law, mandating that men and women get paid the same for the same work. Yet years later the workforce still struggles with the gender pay gap, especially for women of color. In an article about gender pay gap it said black women earn $0.63 for every dollar earned by their white male counterparts. Native American women earn $0.57 to every dollar, and Latina women earn $0.54. Meanwhile, white women and Asian women earn $0.79 and $0.87. The problem is that even women aren’t getting paid the same let only men and women. Even though women are most likely to earn a college degree before a man does, they are still stuck with low paying jobs. When applying to jobs, research had found that white applicants receive 36 percent more callbacks than equally qualified African-Americans, and 24 percent more callbacks than Latinos.
In order for the pay gap to close between men and women individuals in position of power need to be aware of the role they play when it comes to enforcing workplace bias. In the Equal Pay Article, a black women stated the “We can have the same degree, the same years of work… but we are not tapped on our shoulder as often as other folks are. And were not getting any feedback on why.” Like I said before, talking about money is hard for people and asking for more money is even harder. When people ask for raises they need to be sure that they can come up with a reasonable number, you need to feel confident in yourself that you’re not asking for a huge raise but you’re not going to lowball yourself either. In the CNN Article, Selena Rezvani says “The key to negotiating a salary is knowing your value. That way, you can feel confident in your number.” You need to track your accomplishments like successful projects, increase in revenue, innovations, and effective collaborations. As a person you need to realize your strengths and weaknesses and being aware that you have a unique skill set. Get paid what your worth and even if you don’t get the request for a wage you still have the option to ask for other benefits. People are so easily able to give up, but when you’re able to start something you become motivated to succeed in it. Some of the people in American make a steady income where their able to pay for all there necessities and a whole lot more.
Money can buy you a lot of things in life. To some people it can buy you happiness, to other it can make you envy with greed. In life we all strive to be something but sometimes people strive for the wrong things. People become infatuated to be perfect, to keep up with the latest styles and trends. Like they always have to keep up with a certain image. They don’t realize that they put so much money into themselves until they realize that there in debt. Debt makes you like a slave. If you think about it money is just a piece of paper, but yet we find it to be so valuable like it owns us. I get it money is time in order to make money you need to put in the time but how much time are you willing to put in to get the happiness you want. Sometimes happiness is already inside of you but you’re just too blind to realize it.