The Urban Inquirer
A blog produced by students at Queens College, CUNY
Another day with unequal pay

Have you ever wondered how much the wealthiest people in America make? Only to find out that it is a number unfathomable to the average worker. Economic Inequality is a prevalent problem ongoing in the United States between the earnings of the rich and the average worker in our society. Whether you believe it or not statistics are out there to prove otherwise. When your average CEO makes more than 335 times more money than your average worker, that’s a major problem. The wealth distribution in this nation is disgraceful, with the top 1% owning 40% of the nation’s wealth while to bottom 80% own a laughable 7%.How is it that a person who works just as, if not harder, they are compensated with an extraordinary less amount of money? I wonder that myself every day. I’m not saying the people at the top don’t deserve what they earned because they may have worked extremely hard to get to that point, but how is it that the average worker must work 1 month just to make what the CEO makes in 1 hour? There is no justification. While many people live paycheck to paycheck, CEOs of fortune 500 companies never have to worry about that burden in their life and for future their generations. Not only is the income drastically different between the rich and poor, but the heads of corporations exploited the overseas market by moving their factories overseas because foreign workers work the same amount for less, this is called job outsourcing.

 

Job outsourcing is a major problem in our economy because it results to many people out of jobs or having to settle for low paying jobs that will never help them get out of poverty keeping them in an endless cycle. Companies like Wal-Mart reduced employee pay and benefits, resulting in “Low Prices” that they advertise, now other companies must do the same to compete without regards to the people who generate the money for them. Technology also resulted in inequality because why pay more to a human, when a robot can do the same job more effectively and for longer periods of time for a much less amount? If policies are not enacted to close the gap between the rich and poor and prevent job outsourcing on a large scale, then the old saying will continue to be alive and well, “The rich get richer and the poor get poorer”

5 Comments to “Another day with unequal pay”

  1. Henry Hu says:

    I agree, its quite surprising that the top 1% owns 40% of the nations wealth. CEO’s make way too much money considered for the amount of work that they do compared to the average worker

  2. Job outsourcing is a big issue today as companies compete to earn more than the other. This not only affects poverty in the US , but also in other countries where people are working for even less than they would get working in the US. I have a cousin in Argentina who works for an american company in computer programming. In comparison, they pay him much less than they would pay him here in the US. He, his mother, and his younger brother all work full time just to get by.

  3. I completely agree. The 1% is taking up most the wealth in our nation. and the 99% is suffering the most. I believe there should be regulations on gaining profit for certain corporations. “Wall Street” is consuming and retaining all the wealth and distributing it amongst its friendly neighbors. This causes the other 99% to suffer.

  4. Musa Almiggabber says:

    Although I do agree its quite absurd that the salary differences are so far apart between CEO, average employee, etc but as a CEO, earning that much money to me does make sense. What doesnt make sense however is how low minimum wage is and how people are denied jobs due to their race or even sex. There arent many female CEO’s and the ones that are fortunate enough to be CEO’s arent paid as much as male CEO’s. Even at the same position at certain jobs, men tend to make more than women and that just isnt right. The fact that minimum wage is so low to the point people live paycheck to paycheck and sometimes decline other better paying jobs just because they wont get benefits from the government is one of the biggest issues to me. Once we solve the minimum wage issue and how people still live in poverty/are forced to at times (thats how it seems) is a huge part of the issue.

  5. Sekai Dolin says:

    I agree with this post. In most cases, non-CEO’s are just as hard working if not more than CEO’s. There is such a huge gap between the lower and upper class, and the middle class is disappearing. Overall, you did a really nice job of explaining.

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