Wealth And Poverty

Essay by PaperNerd ContributorCollege, Undergraduate July 2001

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Rich or Poor Social Classes of America Wealth and poverty statistics have been measured through most of time. The poorest people always wanting more and the richest always wanting more. Who is to say who deserves it and who does not. The last decade had some remarkable financial gains but what class saw them and why. Does the way people live their lives have more to do with it. Society is ever changing and an economy can change with the slightest issue.

Statistics change on a day to day basis.. The poverty rate is the percentage of persons falling below a certain income level, depending on household size (Income). In 1996 to classify a person in this level they would have to make less than seven thousand nine hundred and ninety five dollars for a single person, ten thousand two hundred thirty three for two, and sixteen thousand thirty six for four.

Poverty rates in 1996 showed that the highest rate of poverty was Black people under eighteen and the lowest poverty rate was people over sixty-five. The rate for the whole economy in 1996 was thirteen and seven tenths. Today the poverty rate is at its lowest in twenty years. The nations rate has dropped to eleven and eight tenths percent in 1999. (United States) The rates for the nation's major racial and ethnical groups has set an historic low. In 1999, the poverty rate for African Americans was twenty three and six tenths percent compared to the 1996 data of twenty eight and four tenths.

Some people believe class divides the country like a racial issue. They always see the rich people getting richer while the poor get poorer. Is this what is really happening or is there other factors involved? America was built on the...