Argument 2

Argument:

How can the wealthy live in such opulence while the new poor live in such poverty in this day and age? 

“We have the resources, experience, and knowledge to virtually eliminate poverty, especially long-term poverty, but we do not yet have the political will.”(Rich and the Rest of Us pg.46)  For decades political leaders have made attempts at resolving the poverty crisis, but have not been successful at achieving their goal.  They were not successful at standing up to the wealthy of this country.

President Franklin D, Roosevelt instituted his “New Deal” program of relief, recovery, and reform.  His plan transformed the financial system in the United States for more than forty years.  Harry S. Truman during his two terms in office continued with Roosevelt’s New Deal Program.  However, his primary focus consisted of closely monitoring two wars which consumed his entire tenure in office.  General Dwight D. Eisenhower was an opponent of the New Deal coalition which was an alliance that wanted to implement less government agendas.  Therefore, even though Eisenhower was considered a conservative he favored the New Deal legislation.  President John F. Kennedy took office in 1960, by this time many foreign issues took precedence and the New Deal Coalition began to deteriorate.  President Kennedy’s focus was on other worldly affairs, primarily trying to prevent a nuclear holocaust.  Lynden B Johnson’s goal was to reestablish the liberal coalition.  During his first term Johnson declared a “War on Poverty”.  He instituted many programs including food stamps, Head Start, work study, Job Corps, Medicaid, and Medicare.  His “Great Society” was premised on the idea that the government should enlist these programs to reduce poverty.  Lyndon Johnson also signed the Civil rights act of 1964 attempting to elevate Blacks out of poverty and providing equality with the wealthy white population. 

Corporate America represents the greed in this country.  “Convenient or not, it’s a bitter irony when multi-billion-dollar banking and investment companies make millions more off the poor millions who are making less” (Rich and the Rest of Us pg 189).  Morgan Stanley produces and manages the food stamp cards (EBT).  The more poor people in the country with EBT cards the richer Morgan Stanley gets.  With each new card issued to a poor person only increases the profit margins of this big Wall Street Firm.  “… your chief financial officers shipped $206 billion in cash to overseas tax shelters last year, Bloomberg reported on Wednesday. The total amount of cash held in offshore havens rose to $1.95 trillion, according to Bloomberg, which is more than the combined market values of the six biggest companies in the U.S.  To add insult to injury, or maybe injury to injury, corporate CFOs are also staunchly opposed to raising the minimum wage, according to a new survey by Duke University and CFO Magazine (Huffington Post, 3/12/2014).  It seems it is okay for the rich fat cats on Wall Street to make money, but they do not want to share it with the rest of the population.  Corporate America is not only keep the poor from making money they are also sheltering money in off-shore accounts from taxes in the US that could go to support programs in this country that would benefit the poor.

“…as more and more Americans are figuring out how to feed families on $150 a month, the mega-rich have gone back to spending on luxury items… the market is zinging again with purchases like… $80K battery-powered bicycles; $525,000  time prices; $1 million yachts; and vacation homes in posh locals…” (The Rich and the Rest of Us pg 190).  In my opinion, there should not be such a disparity between the people living in Beverly Hills, Westwood and West Hollywood compared to the people living in South Central LA.  The homes in these wealthy areas are obscenely opulent.  The living conditions in South Central are deplorable and something you would see in one of the poorest Third World Nation.  This is America.  It is the richest country in the world.  As a society, we should be ashamed that this condition exists right in front of us.  This is our fault and we should not allow our elected officials to be happy with this condition.