Economic Inequality
Year : 2021
On a first-hand experience scaling from one income class to another, barely making it, to being right above the poverty level or right below the median 60% of the population I can definitely say that I have learned a lot in a short amount of time about the U.S. Government and American economic system. I am currently studying investing and financial literacy.
From my experience I have come to take note of some things in the U.S. economy:
- the poor and below poverty level individuals/families are systematically supported to stay at the income level they currently are at.
.... Why do I say this?
1) someone having a real job working full-time and even many times overtime hours, neglecting their mental, emotional, and physical health during this process, receiving somewhere between 24k and 30k per year to pay for rent and utilities will be considered to have "too much income" to qualify for state food or medical benefits which are the most important and expensive costs especially amidst inflation.
2) Therefore ... someone working twice as hard to pay the bills will not qualify for government benefits despite needing them to grow financially and stay healthy.... and someone forced to not work at all or barely work at all, live on public housing and be at the complete mercy of the government assistance systems, such as food stamps and Medicaid, will be limited to their options for financial freedom.
3) Individuals/Families who are solely dependent on government benefits are stuck with the "rules" the benefit programs imply upon them. They cannot have more than 2k in their bank accounts. They are not supported to work, or else their benefits are taken away immediately upon verification of payment from work and not to mention if they are dependent on Medicaid to pay for their medications or doctor visits, they will most likely have those benefits taken away as well.
They are not able to be investors in the economy such as owning stocks, bonds, index funds, or real estate... or else their benefits are revoked. Even degrees and certificates from years of schooling free or paid for is not a guarantee of securing a good paying job these days, so even school is not a sure investment for those in poverty level of society.
Do you see the point I am getting to?
U.S. government systems are aimed at keeping the poor, poor. Supporting them to stay where they are at, any growth beyond poverty is case for revocation of benefits, whether the individual or family is prepared or not.
The stage I am at right now:
working class...
in between poverty and middle-class
Notes: How am I supposed to get health care?
How am I supposed to go to school and secure a well paying job where my skills will be valued?
How to achieve a work-life balance for mental, emotional, and physical health?
How to fight inflation of the economy?
How to maximize investments?
How to not live "paycheck to paycheck"?
How to maximize savings?
How to budget effectively?
How to save up for and buy a car?
Thank you for reading my blog,
I hope this discussion has been useful to expand our consciousness of the current reality
Until next time!
