Were you aware of the growing gap between the rich and the poor?
After thinking of my answer...I am now aware that there is definitly a growing gap. The rich have stable jobs and lifestyles. Some rich people continue to climb a corporate ladder which in turn leads to pay raises. While the poor that are trying to make ends meet, become poorer. When they can not pay fees in time, fines continue to pile up leaving the poor even more in debt. According to my teacher Dr. Ohmer, she provided my class this statistic, "Since 2000, the poverty rate has increased every year. Since 2000, the last year before unemployment began to rise, the number of people in poverty has increased by 5.4 million to 36.9 million in 2005."
Source: Income, Poverty and Health Insurance Coverage in the United States, 2005. U.S. Census Bureau.
That is a shocking increase! I had never thought that there even was a gap!
Why do you think the U.S. has some of the highest poverty rates among industrialized countries?
I believe that the United States has one of the highest poverty rates industrialized countries due to overspending. Our government is in extreme debt and many people do not know how to save money.
Overspending is one cause of the high rate of poverty in the US. I also think part of poverty in the US can be attributed to deregulation of industries that has permitted the increasing gap between the the rich and poor.
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