The Definition of Rich and Poor
Yet, often when these reports are published, you will here the rich claim that they don't have that much money; ot at least it is not at there disposal.
However, when we define 'poor' we think in terms of income. An income below a certain level. But, not everybody with low incomes would be classed as poor.
- Wives of a rich husband.
- Students living with wealthy parents.
- Professionals with the capacity to earn a lot of money. e.g. Lawyers may leave university with debts and no current income, but you wouldn't classify a trained lawyer as poor.
- Old People who have paid off their mortgage. If you can live rent free and low expenses you can get buy on a small income quite happily.
- For example, a single parent with 5 kids, large mortgage and council tax.
Implications of Difficulties in Measuring Poverty and Effective living standards.
- Minimum wages often benefit second income earners, e.g. students living at home, women with a partner earning more. Therefore, a minimum wage is limited in its ability to tackle poverty.
- A high salary is still compatible with low living standards. When I got my mortgage I was paying £1,000 in mortgage payments and council tax. This was more than 50% of my gross income!. A pensioner with a salary of £15,000 may appear to be worse off than a young person with income of £20,000. But rent can easily vary by £10,000 a year.
- Wealth inequality. There is a big advantage to owning a house in that you can earn effective rent from the asset. However, most people don't see a house in this terms. They just see it as wealth locked up in bricks. But, if you own a house and pay off the mortgage. You can live rent free; which could be equivalent to saving £10,000 a year in terms of less expenditure. When Looking at incomes we need to consider the ability to improve their earning potential in the future. E.g. do they have skills and qualifications to get a better paid job.
Poor Are Better Than Rich
- Length: 369 words (1.1 double-spaced pages)
- Rating: Excellent
The Poor Are The Richest
“The poor may have the smallest pockets, but they surely have the biggest hearts”.
Rich people are the selfish people that only care about their wealth and about their
reputation, they are greedy and only care about making money. Furthermore, they are
consumed with the idea of degregating the poor so they can achieve success, even if it
means destroying others lives. On the other hand, the poor are those who battle to survive
among the rich and live their lives to help others. They are open minded and always
wanting to give more than what they have. moral character of the rich and the poor and
thus they don’t help each other mutually in obstacles they each have to face.
Poor people are filled with hope and the desire to help others that are in need of
help. They are consumed with goodness and are always seeking to help out theiw on class.
The Mexican revolution is very good example of how, when in tough times, poor families
and friends stick together and help each other out. The people were searching for work,
money, and happiness, but were faced with many hardships along the way. Those who
were able to make it to their destination were not met with the fulfi but with the feeling of
being unwanted. On the other hand the poor welcomed each other and tried their best to
assist those in need of help.
Being rich causes individuals to abandon their values and be blinded by the fact
that there are others in this world who are not so wealthy as you and who are in need of
help. Eventually people reach a point in which they believe that money should be obtained
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Poor Rich Poor People Tough Times Making Money Mexican Revolution Stick Feeling Destination Grapes Of Wrath
regardless of the cost. An example of this is demonstrated in the Grapes of Wrath
hundreds of immigrants travel to California and are faced with a society that is not looking
to help but to take away. The rich landowners are the ones who own the land, they are
greedy and only care about the migrants workers because they know they need them to
keep making money.