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How did the rich get richer and the poor get poorer?
Rubencortezfb4231
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In America they don't. There is vast movement between income classes, with new grad, low income folks moving up during their careers through promotion and poor performing hign income folks getting laid off or fired.
If you mean wealth, rather than income, that too changes and moves households up and down the wealth ranks. Recently, folks with big stock holdings were rich in 2008, far less rich in 2010, and recovered somewhat in 2011. Folks whose net worth is mostly in a house have seen housing prices drop, but lost no money if they did not sell.
Finally, families with high incomes or net assets can afford sound financial advice, and are less likely to overspend or get scammed than those who buy no advice.
Wiki User
∙ 13y ago
Wiki User
∙ 9y agoThe middle class has shrunk and the number of poor has grown with the globalization of manufacturing and outsourcing of jobs to third world countries. The rich have continued to prosper with Wall Street back on track, stocks gaining, pharmaceutical and corporations prospering, government contracts.The rich got richer as the poor got poorer because property and assets were passed on from one family to another, as well as poverty.
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What happened in 1816 to increase public debt?
The Income Tax was repealed, making it burdened upon indirect taxation. Therefore, the poor had to pay the taxes, making them poorer and the rich richer.
How does capitalism detriment social justice?
Social justice promotes equal opportunity for all. Capitalism is a system run by money and achivement of personal gains. So in some respects, capitalism is a system where the rich get richer and poor get poorer, and the poor have almost no way to climb out of poverty. Capitalism can be viewed as a discrimination based on wealth, and thus counters the idea of social justice.
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no
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You don't make the poor richer by making the rich poorer.
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