Stratification of Socioeconomic Classes

Social Stratification in the United States SOCI 1306 Stratification of Socioeconomic Classes Over the past century, the United States has experienced a consistent increase in its standard of living—that is, the amount of money needed to purchase the comforts and material needs needed to sustain a certain way of life. The nation's quality of living is determined by a number of variables, including employment, income, class, mortality, literacy, and affordability of housing. A high standard of living is generally indicative of a good quality of life; in the US, this implies that people can afford to buy a house, drive a vehicle, and go on holidays. In the end, a nation's quality of living is determined by its wealth, how it is distributed, and the aspirations its people have for their way of life. Most nations do not share wealth equally. A tiny percentage of people in the US have access to the best possible level of living. One-third of the wealth in our country is owned by the richest 1% of people, while the lowest 50% of Americans own only 2%. Nearly two-thirds of the country's wealth is held by the top 50 to 90 percent of earners (The Federal Reserve, 2021). The perception of the United States as a "middle-class society" is widespread. They consider that most individuals are in the centre of the socioeconomic strata, with a small percentage being wealthy, a small percentage being poor, and so on. Achieving the American Dream entails moving up the social ladder and into the middle class. Because of this, academics are especially concerned about the middle class's decline. The proportion of the middle class decreased from 69 percent in 1971 to 51 percent in 2020, despite the fact that it is still much greater than the lowest and higher classes. claim that the collapse of the middle class is the biggest threat to the comparatively high level of life in the United States. In recent decades, the middle class's wealth has also decreased. From 32% in 1983 to 16% in 2016, that was its percentage of the total wealth (Horowitz, Igielnik, & Kochhar 2020). Rich people frequently consume more products and services, have the greatest and most extensive education, and have greater access to healthcare. Rich individuals also have more control over daily decisions since their wealth allows them to access superior resources. In contrast, a large number of people with lesser incomes have less control over their daily situations, obtain worse healthcare, and acquire less education. Tens of millions of men and women also struggle to find employment, pay their rent, purchase food, and receive basic medical treatment. Heads of households who are unmarried women typically earn less money and live in worse conditions than their married or single male counterparts. The term "feminization of poverty" refers to this global issue, which recognises that women account for a disproportionate share of the world's impoverished and have a poorer quality of life. Roughly 56% of Americans are women, and they comprise the population living in poverty. The difficulty faced by single moms in providing for their children is one factor contributing to this disparity. Four out of five single mothers are poor (Bleiweis, 2020). Another factor contributing to the gender inequality in poverty is the salary gap, which is covered in detail in the chapter on work and the economy. Poverty is most frequently described as a relative rather than an absolute term in the United States. When a family or person cannot afford basic essentials like food and shelter, their ability to survive on a daily basis is jeopardised. This is known as absolute poverty. A family or person living in relative poverty makes 50% less money than the typical median income. The poverty line or poverty level is another term for this income. For instance, according to ASTE 2021, the poverty line for an individual was $12,880, for a couple it was $17,420, and for a family of four it was $26,500. The United States, a wealthy developed nation, allocates funds through a number of federal and state social welfare programmes to help individuals in need with basic essentials. These programmes offer financial, medical, and dietary support. Cash aid is offered through Temporary aid for Needy Families (TANF). Assisting families with children in becoming financially self-sufficient is the aim of TANF. Adult recipients of aid are required to make less than a certain amount of money, which is often half the federal poverty threshold. Childcare, assistance for parents who work or get training that requires a certain number of hours per week, and other programmes are covered by TANF money. TANF has a temporal restriction. The majority of governments only offer aid for a five-year maximum (CBPP). The Supplemental Nutrition Assistance Programme (SNAP), originally known as the Food Stamp Programme and run by the US Department of Agriculture, is one of the most well-known initiatives. During the Great Depression, surplus or unmarketable food was given to the needy as part of this programme. It wasn't formally established until 1961, when a food stamp pilot programme was started by President John F. Kennedy. The 1964 enactment of the Food Stamp Act was made possible in large part by his successor, Lyndon B. Johnson. More over 500,000 people got food aid in 1965. In 2020, when the epidemic was at its worst, 43 million individuals took part.