America Land of Opportunity or Land of the Wealthy Essay...

This disillusionment sentiment experienced by American society towards its wealth biased government is substantiated as many members are wealthy or has direct ties to wealth, perpetuating the trend of income inequality through policymaking. The legislative branch of the government, or the branch that is directly involved in policymaking and lawmaking is populated by various members of massive wealth that represents many sectors of the economy that had a hand in the financial collapse of 2007 and 2008. As a whole, the members of Congress are undeniably more wealthy than the constituents that they represent in the government. In 2012, the â€Å"median wage† for a member of the Senate was around $2.7 million dollars and the average wealth for a†¦show more content†¦Moreover, numerous members of Congress also invest in stocks and individual companies, investing in private sectors such as Finance, Business, and Energy. The amount of money invested the financial sector of t he economy, which was widely blamed for approving subprime mortgages that ultimately led to the financial collapse, was estimated to be between $630 million and $1.974 billion dollars in 2012. A substantial section of this capital was invested in sectors with direct ties to the financial collapse as well as the growing income inequality such as real estate, with an amount estimated to be between $450 million to $1.443 billion, and securities and investments at around $85 million to $260 million (â€Å"Top Industries†). This amount of money overshadows the next two sectors, Business and Energy with a value between $395 million and $164 million respectively (â€Å"Top Sectors†). This mutualistic relationship between the wealthy Congress and corporations was observed in a study conducted at Princeton University and Northwestern University, where â€Å"1,779 policy issues from 1981 to 2002† were analyzed and â€Å"compared to the changes of the preferences of media n-income Americans, the top-earning 10 percent, and organized interest groups and industries.† The conclusion drawnShow MoreRelatedAmerica: Land of Opportunity or Land of the Wealthy in Occupy Wall Street788 Words   |  4 Pagesdiversity in America, the social aspect, and while social diversity is an integral component to the foundation of American society today, the issues of income and wealth diversity is also paramount. Income inequality and its implications can be traced to the beginnings of the country and will follow the country to its end. In the era following the War of 1812, the economic conditions of early United States were similar to the fiscal circumstances that Occupy Wall Street was protesting; wealthy aristocratsRead MoreJacksonian Dbq Essays1637 Words   |  7 PagesJacksonian Democrats viewed themselves as the guardians of the United States Constitution, political democracy, individual liberty, and equality of economic opportunity. However, the Jacksonian Democrats were in a catch 22. In order for them to protect the interests of the common man, they at times had to violate the very things for which they stood. By doing this, the Jacksonian Democrats stressed the importance of the power of the common man, at times by violating their own principles. TheRead MoreThe Colonial Elite : The Most Powerful Citizens Of The Colonies879 Words   |  4 Pages The Colonial Elite were known to be the most powerful citizens of the colonies. 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A feature through the different selections in American Dreams is equality because America is a place where everyone has the same opportunity to achieve anything. Equality and opportunity given to people has evolved since the founding fathers, but there’s been stages in America’s history where equality is only given to specific people, not everyone. Equality and opportunity are elements in involved in the song, â€Å"This Land is Your Land,† by Woody Guthrie. EveryoneRead MoreThe Puritans And William Penn On Their Groups1131 Words   |  5 PagesPennsylvania wasn’t established, it was voluntary to come to services and he condemned the right to worship as they desired. The puritans wanted a land based on only their belief. they held certain requirements while the Quakers welcomed everyone. The Puritans churches were unknown and religious services. for them was mandatory. ( Foner pg. 100-101, 2014 ) North America had many events that led to slavery. When Pennsylvania opened this led to an immediate decline in the number of indentured servants who wantRead MoreThroughout the centuries, social class and mobility has always been a big concern for Americans.1100 Words   |  5 Pageswith a lot of social mobility and equal opportunities. However, that is ironically not true. According to a graph from a 2005 New York Times series on income mobility, the United States is ranked second to last when it comes to the rate of income improvement or poor families in the last four generations. Professor Kathryn Wilson, associate professor of economics at Kent State University states that: â€Å"people like to think of America has the land of opportunities. The irony is that our country actually