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Spent Simulation And Poverty.edited

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University of Mary Washington
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Spent Simulation and Poverty
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Spent Simulation and Poverty
An Overview and Reflection of the Simulation
After completing the challenge twice, it was surprising that rent takes up to 60 percent of
the monthly earnings for low-income earners. Therefore, affordable housing can save a
significant amount of money that will improve the welfare of low-income earners. More
importantly, the minimum wage does not reflect the typical consumption basket for low-income
earners. It is difficult to get through the month with all bills paid up to date. Defaulting on bills
such as car insurance can have devastating effects, including losing a job if the car is
repossessed. These choices lead low-income earners who lack access to credit to take pay-day
loans at exorbitant rates. The design of the Affordable Care Act provides an incentive not to pay,
given that the minimum pay constitutes up to 20% of monthly income for low-income jobs. This
situation leads to poor health as the poor are likely to miss important health checkups or visits to
the hospital until it is too late. There is a need to rethink health coverage by making it more
affordable for this group and reducing the incentive not to pay.
One Myth about Poverty and “Myth Busting” it from a Sociological Perspective
One of the myths about poverty is that getting a job is the key to preventing poverty.
However, in reality, the minimum wage falls fall far below the “living wage.” Therefore, it is
difficult for those earning the minimum wage to meet their basic needs. The graph below shows
the prevalence of poverty among the working class by age cohorts.

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1 Spent Simulation and Poverty Name Affiliation Course Instructor Date 2 Spent Simulation and Poverty An Overview and Reflection of the Simulation After completing the challenge twice, it was surprising that rent takes up to 60 percent of the monthly earnings for low-income earners. Therefore, affordable housing can save a significant amount of money that will improve the welfare of low-income earners. More importantly, the minimum wage does not reflect the typical consumption basket for low-income earners. It is difficult to get through the month with all bills paid up to date. Defaulting on bills such as car insurance can have devastating effects, including losing a job if the car is repossessed. These choices lead low-income earners who lack access to credit to take pay-day loans at exorbitant rates. The design of the Affordable Care Act provides an incentive not to pay, given that the minimum pay constitutes up to 20% of monthly income for low-income jobs. This situation leads to poor health as the poor are likely to miss important health checkups or visits to the hospital until it is too late. There is a need to rethink health coverage by making it more affordable for this ...
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Anonymous
Very useful material for studying!

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