Preview

Middle Class And The Rich: Misconception Of Wealth

Good Essays
Open Document
Open Document
365 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Middle Class And The Rich: Misconception Of Wealth
The first point I would like to make in this paragraph consist of the misconception of the wealthy, regarding the idea of how it is simply handed down from one another. The wealth and income of many many people, both middle class and the rich is a result of hard work and self made prosperity. Not a product of good fortune, greed, and deliberate deprivation of the poor. Many of the people who are wealthy today once started off and average people who faced struggles and hardships as well. Business owners have twelve failures for every one success, doctors endure eight years of college, and many middle management employees once started off as simple assembly line workers. One specific business venture that I myself have eight years experience

You May Also Find These Documents Helpful

  • Satisfactory Essays

    1. According to Robinson and Acemoglu, what is the core driver that explains different levels of wealth?…

    • 355 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    After watching the video, "Wealth Inequality in America", published by Politizane, I was surprised when finding out that only the top one percent of America has 40 percent of all the nation's wealth. It was also surprising to discover that the top one percent owns half the country's stocks, bonds, and mutual bonds, while the bottom 50 percent of Americans own only half a percent of these investments. One of the notions I had that was challenged by the video was the amount of money the wealthy actually have compared to the rest of the classes. I was aware that wealth mostly distributed to the wealthy class, but I never imagined that the division between the wealthy class and the rest of the classes would be so huge. Its incredible that the CEO's…

    • 227 Words
    • 1 Page
    Satisfactory Essays
  • Satisfactory Essays

    Andrew Carnegie talks about how the upper class have a responsibility to reduce excess wealth by being charitable to highlight the issues of wealth inequality. He suggests that society can use the wealth from the upper class more responsibly than the state. In the article, he talks about his dislike of people using money irresponsibly on material things. He suggests when the upper class distribute their wealth, they should do it in a way the promote responsible spending. He talks about how there are two types of wealthy people.…

    • 263 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    When Authors Tom Stanley and William Danko set out to investigate on how people get wealthy across America, they found something odd. Many people who live in upscale neighborhoods and drive luxurious cars do not have extreme wealth. The allusion of wealth happens a lot and many people are unaware of the true meaning of wealth. Many people who have great wealth do not live in upscale neighborhoods. This book examines ways to become wealthy and how wealth is not what you spend but what you accumulate.…

    • 1039 Words
    • 5 Pages
    Good Essays
  • Satisfactory Essays

    Carnegie has inspired women and men to use their funds to their communities. Although he advised other wealthy to use their money to benefit the communities and help in the preservation of the political system and America economy. I believe Mr. Carnegie’s argument is persuasive and is still relevant today. The wealthy, as well as small business owners, are the job creators in our society today. Their vision and leadership help to support the lower class in earning a decent living while allowing them to realize their own potential. The lower class today has more opportunities that were not available to them generations ago. While government is there to provide a safety net for those less fortunate, it is the wealthy and job creators that…

    • 128 Words
    • 1 Page
    Satisfactory Essays
  • Satisfactory Essays

    tim blixseth essay

    • 467 Words
    • 2 Pages

    Tim Blixseth kept explaining to us how most rich people he know were cocky, arrogant, stuck up or flamboyant. Tim was nothing like that; he didn’t want people to judge him accordantly to the other rich people. He strongly hated the fact that most rich people are jerks and looked down toward the middle/lower class. Money does change people a lot. I feel like if you were born with money and everything given to you, than you would be a stuck up person. But if you worked hard for your money than you know where you can from and would be cared hearted toward the lower class. Money is the root of all evil. It gives the wealthy a since of more power, makes them believe they rule us. By thinking this way, we all are going to be in trouble if they can get any more power. I believe that not all wealthy people do not have this type of attitude but most are by the way they were raised. But I believe that if you are raise your children properly and teach them the correct morals of life, then you can be a great person with the wealth.…

    • 467 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    This is shown in the fact that 68.7 percent of the world’s population only holds three percent of the wealth in the world and only 8.4 percent of the world’s population has 83.3 percent of the wealth of the world (Doc 6). The 68.7 percent of the world with the least amount of money often works in factories for very low wages, these factories being owned by the most wealthy. This relates to how those who get ahead have to step on others, with the wealthy exploiting the poor for their wealth.…

    • 477 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Andrew Carnegie, born in Scotland, came to the United States in 1848. Here he started with nothing and turned himself into a self-made man. He was in fact, one of the richest men if this era. In 1889 he wrote “The Gospel of Wealth”. In this essay he discusses philanthropy and explains that with money also comes responsibility. He stated that obedience [to the Gospel of Wealth] will one day solve the problem of the rich and poor, and will bring “Peace on earth, among men good will.” I agree with this statement because the “Gospel of Wealth” claims that everyone is free to make as much money as they can, however, they should not leave it to their heirs and should use it to help mankind.…

    • 412 Words
    • 2 Pages
    Good Essays
  • Good Essays

    This is shown in the article “What is The Great Gatsby Curve?” by David Vandivier when he talks about the Great Gatsby Curve and predictions for success and wealth for people in America. In the article it talks about how the rich have more of an advantage and opportunities than the poor, but just because they have more resources and advantages doesn’t mean that poor people can’t obtain wealth. There are many things out there to help the poor and middle class have a sustainable life in society and to reach their dreams. Opportunities have advanced because “President Obama has advanced a number of policies to give greater opportunity for the middle class and those striving to join the middle class” (Vandivier). The president proposed for high-quality preschool regardless of family background, and to raise the minimum wage to $9 per hour. Also there are programs out there such as affordable care act, programs that provide food stamps, support for unstable families, free education from elementary school to high school, because of this there are opportunities which can help the poor reach success and wealth. Although it’s a given that “Children of wealthy parents already have much more access to opportunities to succeed than children of poor families” (Vandivier) but opportunities help poor families reach wealth, but it will definitely but harder for them than the…

    • 1684 Words
    • 7 Pages
    Good Essays
  • Good Essays

    Andrew Carnegie Essay

    • 495 Words
    • 2 Pages

    The central thesis of the essay focused on the dangers of wealthy entrepreneurs simply passing on their fortune to their children, or other persons and organizations that were not qualified to handle it. Instead of wasting money on frivolous expenses and using it inefficiently, Carnegie argued that such money should be put towards the public good. Thus, even as capitalism could indeed hurt some while benefiting others, poverty could in fact be tackled and solved by the very wealthy businessmen that had contributed to the problem.…

    • 495 Words
    • 2 Pages
    Good Essays
  • Good Essays

    author makes a point that wealth begins with one generation and typically trickles down from…

    • 413 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Hard Working Stereotypes

    • 1969 Words
    • 8 Pages

    In the book ‘America’s Poor and the Great Recession’ by Kristin S. Seefeldt and John D. Graham, the reasoning that in a post-recession world, having two sections of an extreme poor and an extreme rich are becoming commonplace. The book talked about how the recession was just a reaction to how much power the 1% are getting, and how their recklessness caused an economic crisis America hadn’t seen since the 1930’s. In conclusion, the authors came to the answer that not only is becoming easier to fall into the hole of poverty, it’s becoming harder to climb out, and all because of the higher-ups. It may be because the middle class are afraid to fall into the hole of poverty themselves, and the myth makes them more comfortable, knowing that they are not “lazy”, or “undereducated”. The upper class, on the other hand, might be trying to deflect the blame. “It’s not OUR fault!”, they…

    • 1969 Words
    • 8 Pages
    Good Essays
  • Good Essays

    In the United States, the top ten percent of all households own seventy-six percent of all the wealth in the country (1). Income inequality is frequently highlighted, but why is wealth inequality rarely brought to our attention? The political system has failed to deal with the problem, and the gap will only continue to grow in the future. How can we call this the land of opportunity when the bottom forty percent will most likely stay the bottom forty percent for their entire lives (1)? That is why I offer a modest proposal to overthrow the current system and establish a Utopian society built from the rubble. This Utopia, which I shall refer to as the United Socialist States of America (USSA), is going to be built around the premise of economic equity through the equal distribution of resources and knowledge. This would create a society without greed because money is the ultimate…

    • 1249 Words
    • 5 Pages
    Good Essays
  • Good Essays

    A crucial controversy of America today is the growing gap between the wealthy and the poor, and the discrepancy is caused by capitalism run wild and only the helping hand of the government can only fix the problem. A question that turns the tables is what if the growing wealth disparity in America is actually caused by the government? For years, the idea that inequality is economically neutral has been the prevailing view not just among traditionalists but also between most Americans outside the further reaches of a political audience. There could be ideological or moral reasons to object to a growing gap between the wealthy and the rest but for economic reasons, there are no such. Furthermore, there are many ways inequality places itself in America. In our society, a good amount of the population is forced to stand up and work for our country while hardly being redeemed for their time and effort, thus the problem of income inequality. An estimate of these people live from paycheck to another, barely coping with life itself, not because they cannot manage their money well, but the reason is that…

    • 1215 Words
    • 5 Pages
    Good Essays
  • Good Essays

    Colonial America Essay

    • 955 Words
    • 4 Pages

    Ever since the colonization period in the 1600s, many settlers had come to North America as a land of opportunity. As civilizations became developed in America, many will see that this hope will be realized. After the Civil War and towards the end of the 19th century, America will have became an industrial empire, creating the term “millionaires.” With the discovery of new raw materials and the enhancement of the technological era, many people took on the jobs of becoming businessmen. People such as John D. Rockefeller, Andrew Carnegie, and J.P. Morgan, invested their lives and money into creating corporations that either thrived or died. The ones who did manage to make it big, many of whom were owners of the major railroads, factory bosses,…

    • 955 Words
    • 4 Pages
    Good Essays