Blog #1: Wealth Inequality

I was a little surprised by the findings but in a way different way than most people. I was surprise that there wasn’t more people living in poverty and less people in the top 20%. Many Americans strive to live up to the “American Dream”, but so many fail to achieve it. I do agree with what one person said in the video by Sean McElwee that you can choose to hide yourself from the inequalities. Growing up I was well aware of the inequalities just by my neighborhood was laid out. The lower numbered streets contained the housing projects and those who lived in poverty. As the numbers rose so did the income of the families, all the way to the multi-million dollar homes (ie. Calvin Klein’s beach house). When I left my neighborhood for high school, I was shocked to find out that not many people were aware of the living inequalities because where they lived they never witnessed it.
 
I also believe that the distribution of wealth will grow further apart than it already is over time. I’ve noticed this with my parents. Both work extremely hard at their jobs, and for the most part I have always assumed that we were in the upper middle class. This is because my parents own a home, were able to my sister and me to good school, and go on vacations, but after learning about wealth distribution in various classes my family is classified as lower middle class. Talking with my own parents they have admitted this as well, they have been working way past a normal age of retirement so that the family can be comfortably. I have accepted this as my future and know that as time progresses I will be working 10 times harder than my parents had to so that I may live comfortably.
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One response to “Blog #1: Wealth Inequality

  1. Talking about money with your parents can be an awkward conversation. Parents never want to give you any reason to doubt or worry. They try their best to shield us from the things we’re not ready for, but inevitably, we too, must face them head-on. It’s unfortunate to think that us millennials, the “Y” generation, will be facing the economic consequences of the generation before us. My father, who has worked every day since the age of 13, has scrimped and saved every penny he ever made. Now, at 64, while all of his friends are retiring in Florida, he’ll still be working to pay off my brother’s college loans. Our parents sacrifice for us, in the hopes that we’ll carry the torch. What other choice do we have?

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