Income Inequality and Poverty Essay Example

has verified the pressing demand for skilled trade workers in the country. Furthermore, the expansion of trade jobs is surpassing overall employment rates, leading to income inequality (Costanzo 2018).

The more knowledge and skills a person has, the more they can earn and the better job opportunities they can have. On the other hand, individuals with limited skills and knowledge are at higher risk of being replaced by computers. The advancement of technology is widening income inequality and leading to automation taking over human jobs. Jobs that only require a high school diploma, like cashiers, booth operators, and machine operators, face the greatest chance of being replaced by robots. This is evident in the increasing number of self-checkout kiosks and decreasing number of cashiers at local Walmart stores. Toll booth operators have also been mostly replaced by E-Zpass stations. According to a study conducted by the Cornerstone Capital Group (McFarland 2017), it is estimated that up to 7.5 million retail jobs could be automated within the next decade.

Sears, Macy's, and many other department stores closing demonstrate the evident decline. The Bureau of Labor and Statistics predicts that around 80,000 fast food jobs will vanish by 2024. This is not a distant future to ponder. The situation is expected to worsen before any improvement occurs, compounded by the ongoing outsourcing of jobs. Outsourcing severely impacts our economy and employment rate. In 2013, approximately 14 million jobs were outsourced to foreign affiliates, as reported by U.S. sources.

Multinational institute. Many call centers, often criticized for their technical support of phones or electronic devices, have been outsourced to improve competitiveness in the global market and benefit from low labor costs

in developing nations. However, outsourcing has a negative impact on our economy by increasing the unemployment rate in the United States. Currently, there are around 14 million outsourced jobs, which is almost twice the current number of unemployed Americans at 6 million.

According to Amadeo (2018), the solution to bringing jobs back to America is to hire millions of part-time workers who want full-time employment. President Trump promised during his 2016 campaign to achieve this by imposing taxes on China and Mexico. However, this move could have negative effects on companies, as they would need to increase prices, which would be problematic for those already experiencing financial difficulties.

According to Feeding America, job cuts, job outsourcing, and a lack of skills have caused approximately 41 million Americans to live in poverty. In 2014, about 72% of households served by Feeding America had an annual income at or below the federal poverty level, with a median annual household income of $9,175. The competition for limited job opportunities is fierce, making it extremely difficult for unemployed individuals to find new jobs or careers, especially those without skills or education. Data from the Bureau of Labor Statistics reveals that in April 2017, 1.6 million unemployed Americans were unable to secure work for six months or longer, while nearly one million remained jobless for over a year (Bahler 2017). These circumstances have a trickle-down effect on families as they are forced to cut expenses which may impact their ability to provide sufficient funding for their children's education and future success.

The primary cause of elevated poverty rates is the significant correlation between poverty and lack of education. When individuals do not possess

education, their opportunities become limited. In the present era, acquiring knowledge through books or personal experiences is imperative for attaining success.According to the Center for Poverty Research at the University of California Davis, there is a rising concern about the increasing cost and lack of education. The poverty rate varies based on educational attainment, with those without a high school diploma facing the highest percentage of poverty compared to individuals who have completed some college or higher. Many people from low-income households find it difficult to afford college and earn a degree. In fact, tuition fees have escalated by 237% in the past two decades (Boyington 2017).

The national minimum wage has remained stagnant for the last ten years, which has led to a significant rise in education costs without any corresponding increase in wages. Consequently, this disparity has made it increasingly challenging for individuals with lower incomes to break free from poverty. Moreover, these challenges go beyond financial concerns and affect educational opportunities within households where essential skills are typically taught. Many impoverished Americans confront the daily struggle of meeting basic needs such as food and electricity while also grappling with utility bills and barely affording rent.

According to the Washington Post, Hawaii has the highest cost for renting a 2-bedroom apartment compared to all other states. The average rental price for such an apartment is $2294, while the minimum wage rate remains at $10.10. Working fulltime for 40 hours per week would result in take-home earnings of $1,616 before taxes, which puts individuals at a disadvantage from the start.

From 2007 to 2015, there was a consistent 6% rise in rent due to the housing crisis.

President Trump's strategy includes a substantial $2 billion cut to HUD (U.S. Department of Housing and Urban Development), which would heavily affect affordable housing and other assistance programs for individuals living in poverty.

Revitalizing America can be achieved by widening the gap between the privileged and disadvantaged. Troubleshooting within the online community involves careful observation, narrowing down issue location, identifying causes, testing, repairing or replacing affected components, and finally operating equipment for normal service restoration. Adopting this problem-solving approach in our daily lives allows us to have a greater impact on assisting those around us. Rather than solely emphasizing college as the exclusive path to success, it is important to promote and educate the younger generation about trade skills. As technology continues its rapid advancement, it becomes crucial for future generations to adapt in order to ensure job stability. Incentivizing companies to stay within U.S. borders is also essential.

To promote equality and wealth redistribution, it would be advantageous to introduce a higher national minimum wage that is adjusted based on the inflation rate in the housing market. Furthermore, giving priority to education in both domestic and academic environments would significantly aid in achieving this objective.