What is a GDP and why is it so important? A GDP is one of the primary indicators used to gauge the health of a country's economy. It represents the total dollar value of all goods and services produced over a specific time period. When the GDP increased, its purpose was to benefit the entirety of all class sizes, instead of making everyone better off, it has made only a part of the country wealthier, as another part slips deeper into inevitable cycle of the working poor.
Today, there are 37 million Americans living in poverty, and at 12.7 percent of the population, it is the highest percentage in the developed and industrialized world. Despite this, the tax burden on America's wealthy is declining, not increasing. The top 0.01 percent of families have seen the taxes they pay fall by a full 25 percentage points since 1980. That was when 'trickle down' economics began, arguing that the rich spending more would benefit everyone as a whole. But America's poor have simply been getting poorer: clearly that theory has not worked in reality.
The unfairness of the economic and tax system in America continues to strecth the gap between the rich and the poor and the ability to cross that gap. This is clearly evident as even Warren Buffet, the second wealthiest man in the world who benefited to the tune of hundreds of millions of dollars, has said the tax cuts 'scream of …show more content…
"A higher education is the single best investment you can make in your future and college has never been more expensive", Obama said during a speech, and he is correct. According to the College Board & Advocacy Policy Center, the cost of a private nonprofit four-year college institution has risen 267% over the past 30 years. Within the same time frame, the cost of a public four-year college institution has risen by 357%. The average student loan debt for graduates stands at $26,000. In the past nine years, the average student loan balance has exponentially grown from $10,649 to $20,326. Outstanding student debt totals $1.2tn in the US. Debt is the downfall of a potentially bright and successful American, preventing those bright young minds from climbing the ladder to reach for success. The system is designed for failure. The future of a country is dependent on how successful its citizens become once they're integrated into the flow of their economic stream. So, what does it say for a country when it keeps the youngest group of its society in a consistent, unfair cycle of financial