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Word Count: 1,342
As our economy grows and becomes more productive as well as more prosperous it is evident that the profits only benefit a few people The middle and lower classes seem to be the victims in Americas magnifying wealth-gap Wealth is the abidance of valuable possessions as well as of money The wealth-gap is the difference in income and prosperity between the rich and the poor Our wealth-gap widens due to taxation differences investment differences in stocks and bonds and the unfair job opportunities in the manufacturing trade industryA person is considered wealthy when their income is substantially larger than that of the average person in their community Society encourages everyone to strive for power and wealth and as Cohen says money in all its manifestations has always been the prime source of power Yet given the situation not everyone attains it A person status in societys social ladder is determined by their wealth In other woods wealth determines the social class of a person There are three social classes the upper middles and lower class The upper class consists of these whose income exceeds the average persons income It consists of those whose social and political importance can give them the same wealth available to the excessively wealthy The middle class are those whose income is substantially lower than that of the upper class They make enough for all their needs such as rent food clothingbills and extras such as forms of transpiration and communication However do not have enough for the luxuries that the wealthy have The lower class is referred to as the poverty-stricken class Galbrith says People are poverty-stricken when their income even adequate for survialfalls radically behind that of their community241 The lower class receives no more than the minimum wage and even though they do make enough to survive their income does not provide them with as stated Galbraith what the larger community regards as the minimum necessary for decency
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