“In a country well governed, poverty is something to be ashamed of. In a country badly governed, wealth is something to be ashamed of. “An imbalance between rich and poor is the oldest and most fatal ailment of all republics.
” All over the world, disparities between the rich and poor are rising every day; even the wealthiest nations are facing the same issues on daily bases. Poverty is one of the greatest issue going on around the world for several hundred years or being specifically; Poverty is the scarcity or the lack of a certain amount of material possessions or money. Poverty is a multifaceted concept, which may include social, economic, and political elements. One is considered poor if he/she is below the poverty line and it’s different in every country depending on countries population and GDP. Even the superpower of the world; United States got trapped in this cycle of poverty. Current estimates on poverty in the U.S.
The official poverty rate is 13.5 percent, based on the U.S. Census Bureau’s 2015 estimates.
A person earning less $15,060 a year is considered poor according to the federal poverty level, an estimated 43.1 million Americans lived in poverty according to the official measure. According to supplemental poverty measure, the poverty rate was 14.3 percent. In the sea of poverty, half of the world population is drowning, and There is only handful number of people who are actually becoming “successful” and wealthy while a majority of the population is becoming poorer day by day.
There are many issues involved when we look at poverty and, one of the most major ones, in my opinion, is lack of pay equity. Pay equity, it means the elimination of sex and race discrimination in the wage-setting system. Many women and people of the race are still segregated into a small number of jobs such as clerical, service workers, nurses/teachers, and labour work.
We live in the 21st century which brings many changes in our lives, in the way we work, in our daily activity, the way we do business and even we have such a higher standard of living but still at some places people are paid less because of their color or cultural beliefs. According to a new Pew Research Center analysis of Bureau of Labor Statistics data. In 2015, average hourly wages for black and Hispanic men were $15 and $14, respectively, compared with $21 for white men.
Pay equity is based on comparisons of work being generally done between men and women. Women are almost half of the workforce in the U.S.A. They are the sole or householder in half of the American families with children. Women’s are receiving more college and graduate degrees than men.
Average women continue to earn considerably less than men. A few years back female full-time, year-round workers made only 80 cents for every dollar earned by men, a gender wage gap of 20 percent. You all might be thinking why do we even have that much wage period; the wage period results from differences in education, experience or time in the workforce. Women make up almost half of the workforce in the United States of America; they continue to earn less than men on average in nearly every single occupation for which there is sufficient earnings data for both men and women. A few years back women working full-time, year-round earned just 80 cents for every dollar that men earned. The speed of progress toward pay equity has been slow, and if progress continues at the same pace, it can be a disadvantage. For women of race, equal pay is even further away. Based on my research, Hispanic women will have to wait until 2248 to reach pay equality with White men and Black women will have to wait until 2124 for equal pay.
Despite being paid less, women’s earnings are increasingly important to the economic stability of families. In the United States, half of all households with children under 18 have a household mother, who is either a single mother who heads a household, regardless of earnings or a married mother. Thus, persistent earnings inequality for working women translates into lower pay, less family income, and more children and families in poverty. April 4 is Equal Pay Day, Despite the attempts to raise awareness about the continued existence of the wage gap, however, people will all too often dismiss them, or in some frustrating cases try to argue about it with you. Some people believe that women’s have different priorities than men or they simply want different things out of life than men like raising kids rather than have successful careers and do household jobs than working in a company. There’s so much wrong with that, Anyone who’s ever known a non-maternal woman knows that clearly, not all women want kids, and that wanting to have a family isn’t the sole desire of women.
You can respond to that argument by reiterating that having kids isn’t women’s work, that not all women want families, and that having kids shouldn’t mean someone makes less than someone else on the basis of gender. If we look at facts, Of the 123 million women age 16 years and over in the U.S.A, 72 million, or 58.6 percent, were labour force participants—working or looking for work.
Some elites believe that women ‘choose’ different and lower-paying college majors than men, implying such differences mean that the wage gap measure is not a good measure of economy-wide wage inequality. ‘Choice’ is, of course, an unverified assumption. There is considerable evidence of barriers to free choice of occupations, ranging from lack of unbiased information about job prospects to actual harassment and discrimination in male-dominated jobs.
For instance, a store assistant may choose to go to school for four more years to become a Manager, or she may choose to go to school for half that and become an IT support specialist if she knew that manager and IT support specialists were paid roughly the same per year. In a world where half of IT support specialists were women and half of manager’s in the store were men, men and women might ‘choose’ very differently than they do now. We do know that young women and men express the same range of desires regarding their future careers regarding of such values as making money and having autonomy and flexibility at work, as well as time to spend with family.Not to forget, discrimination is still one big factor when factors such as occupation and parental or marital status are used as control variables in statistical models aiming to explain what ’causes’ the wage gap. The size of that gap is reduced, and what is left unexplained is generally thought to possibly be the result of discrimination.
Peer-reviewed literature surveys published in mainstream economics journals, including a recent study by Francine Blau and Lawrence Kahn estimate that 38 percent of the gross wage gap remains unexplained when factors reasonably thought to affect productivity are included as control variables in the models. Blau and Kahn estimate that occupational segregation—where women work in lower paid jobs, typically done by women, and men work in higher paying jobs typically done by men— along with segregation by industry and firm, are now responsible for half the wage gap. While some occupational differences result from differences in preparation for the labour market by women and men, others result from different job assignments by employers when women and men first participate in the labour market. Poverty is about low, self-esteem and a lack of role models and opportunities. Without money, people resort to de-dignifying activities in order to support themselves.
We free people through education and entrepreneurship. Freedom is self-determination, and you can’t self-determine without understanding money and capitalism. If working women were paid the same amount as their male, working the same hours, with the same education, their poverty rate would not drop. Eliminating the gap in pay between working men and women would not only benefit the women making less, but it would help the families they support and the economy. Closing the gender pay gap in every state would boost the U.S. economy by billions.
However, achieving equal pay for women is no easy task. Women make less money than men on average. They’re less likely to work in high-paying fields even and, when they do work in those sectors, they’re less likely to work at higher-paying firms or move up the corporate ladder. And then, of course, there are cases of outright discrimination where women are making less than men doing the same job. For example, President Barack Obama issued an executive order earlier in 2014 requiring that companies with more than 100 workers report to the government what they pay workers by race and sex.