Study Document
Wealth in America the Subject Thesis
Pages:5 (1909 words)
Sources:10
Subject:Personal Issues
Topic:Wealth
Document Type:Thesis
Document:#52400527
Wealth inequality results in many Americans not having access to necessities such as adequate healthcare. It is also linked to ethical and racial inequality and, as such, can be a source of social dissention. In the final analysis it is a sad truth that such radical disparities should exist in one of the most advanced societies in the word.
Bibliography
Black Wealth / White Wealth: A New Perspective on Racial Inequality. Retrieved June 25, 2009, from http://www.infibeam.com/Books/info/Melvin-L-Oliver/Black-Wealth-White-Wealth-A-New-Perspective/0415913756.html
Concentration of Wealth in the U.S.A. Retrieved June 25,
2009, from http://web.pdx.edu/~psu01435/wealth.html
Domhoff W. Power in America: Wealth, Income, and Power. Retrieved June 25,
2009, from http://sociology.ucsc.edu/whorulesamerica/power/wealth.html
Keister, L. (2005). Getting Rich: A Study of Wealth Mobility in America. New York:
Report details black-white wealth inequality. Retrieved June 25,
2009, from http://www.msnbc.msn.com/id/7397962
Walsh D. (2008) America's "Fortunate 400" control vast wealth. Retrieved June 25,
2009, from http://www.wsws.org/articles/2008/mar2008/rich-m07.shtml
Appendix
Figure 1. Distribution of net worth and financial wealth in the United States, 1983-2004
Total Net Worth
Top 1%
Next 19%
Bottom 80%
1983
33.8%
47.5%
18.7%
1989
37.4%
46.2%
16.5%
1992
37.2%
46.6%
16.2%
1995
38.5%
45.4%
16.1%
1998
38.1%
45.3%
16.6%
2001
33.4%
51.0%
15.6%
2004
34.3%
50.3%
15.3%
( Source: Edward N. Wolff at New York University (2007) from http://sociology.ucsc.edu/whorulesamerica/power/wealth.html)
Figure 2: Wealth distribution by type of asset, 2004
Investment Assets
Top 1%
Next 9%
Bottom 90%
Business equity
61.9%
28.4%
9.7%
Financial securities
63.8%
24.1%
12.1%
Trusts
47.7%
33.9%
18.5%
Stocks and mutual funds
36.7%
42.0%
21.2%
Non-home real estate
36.8%
42.6%
20.6%
TOTAL
50.3%
35.3%
14.4%
Housing, Liquid Assets, Pension Assets, and Debt
Top 1%
Next 9%
Bottom 90%
Deposits
20.8%
40.1%
39.1%
Pension accounts
13.5%
44.8%
41.7%
Life insurance
21.4%
36.0%
42.7%
Principal residence
9.8%
28.2%
62.0%
Debt
7.2%
19.9%
73.0%
TOTAL
12.2%
33.5%
54.3%
( Source: Edward N. Wolff at New York University (2007) from http://sociology.ucsc.edu/whorulesamerica/power/wealth.html)
The relationship between power, politics and wealth is an important issue that will be explored in the sections below.
In terms of types of financial wealth, "…the top one percent of households have 36.7% of all privately held stock, 63.8% of financial securities, and 61.9% of business equity." (Domhoff, 2009)
See appendix for tables that provide more detailed information on wealth distribution.
Walsh, 2008.
The data published in the Wall Street Journal which is derived from an Internal Revenue Service (IRS) study of wealthy U.S. taxpayers in 2005, reveals that "…the 400 super-rich --…
Sample Source(s) Used
Bibliography
Black Wealth / White Wealth: A New Perspective on Racial Inequality. Retrieved June 25, 2009, from http://www.infibeam.com/Books/info/Melvin-L-Oliver/Black-Wealth-White-Wealth-A-New-Perspective/0415913756.html
Concentration of Wealth in the U.S.A. Retrieved June 25,
2009, from http://web.pdx.edu/~psu01435/wealth.html
Domhoff W. Power in America: Wealth, Income, and Power. Retrieved June 25,
Related Documents
Study Document
America's Cuban Conundrum the Helms-Burton Act and
America's Cuban Conundrum The Helms-Burton Act and the Cuban-American Trade Relations The United States and Cuba have had increased amounts of hostility toward each other present in their relations ever since the Cuban revolution. Not only did Cuba nationalize property held by U.S. interests during the revolution, but also Cuba became an ally to Russia during the Cold War; which was critical to the Soviet strategy since Cuba is in close proximity
Study Document
America -- a Wealthy Nation Worldview Worldview,
America -- a Wealthy Nation Worldview Worldview, Thesis Statement and Outline America's positive contribution towards the other economies Personal Worldview: America -- a Wealthy Nation This topic is about the fundamental phenomenon of comparison among the nations. This comparison is usually based on different factors such as wealth, power, economy, foreign affairs, to name a few. These factors infer a generalized view of the subject matter. It is little complex to define these factors precisely
Study Document
America, Past, Present & Future
Emerson believed that the broader culture could rid itself of slavery through moral persuasion. At the beginning of the renaissance, Emerson "maintained that reform was best achieved by the moral persuasion of individuals rather than by the militant action of groups," (Lowance, 2000, 301). but, in the years immediately leading up to the Civil War, Emerson's philosophy collided with reality. In 1855, he wrote and delivered his Lecture on
Study Document
Wealth of a Nation to Be: The
Wealth of a Nation to Be: The American Colonies on the Eve of the Revolution" by Alice Hanson Jones. (New York: Columbia University Press, 1980.) xxxvi, 494 p.: ill.; 24 cm, (HC104.J67). This book is a more modern look than some of the other books scrutinized in these reports. It takes a newer look at America poised for Revolution, and indicates how the quest for American freedom and the country's
Study Document
Wealth in American Society Wealth
The mere availability of clean running water, indoor plumbing, electricity, heat, air conditioning, refrigeration, automobiles, quality food, and cable television would be considered extreme "wealth" in most of the rest of the world. Unfortunately, because the prevailing concept of personal wealth is relational rather than absolute or defined by the objective benefits and conveniences of modern life in the developed world, most Americans take for granted the lifestyles, benefits, conveniences,
Study Document
Church and Colonial Latin America
.. may not lack people to work their holdings for their maintenance, and may be able to take out what gold there is on the island;... And because this can better be done by having the Indians living in community with the Christians of the island, and by having them go among them and associate with them, by which means they will help each other to cultivate and settle and