People will say the rich shouldn't have to pay off the debt of those who are struggling in poverty. The truth is they are right because they worked hard to provide for themselves and have enough money to survive in this economy.  Nevertheless, it is partly the fault of large corporations for creating costly necessities that are essential to everyday life. The economy and prices are going up and the rich are moving into neighborhoods, increasing the prices of the houses around them, while also increasing the taxes. The rich are making everything more expensive, making it even harder to survive in this harsh economy. 

The purpose of the interview was to gather more information about what people knew about debt. I interviewed my friend Veida Salto who is 16 years old. She is a female who is in her junior year in high school. My candidate was very open-minded to the concept of debt and expressed great emotion towards this subject. The questions How does debt make you feel and why do you support or oppose the concept of debt are most relevant to my research. My interviewee said debt makes her feel worried and scared because “it's scary going to college then all the money that I worked hard for is going to pay off that burden”. She also stated how she opposes and supports the idea of debt as she understands “if we ask for money we have to pay it back, but at the same time if someone is struggling to pay it back their credit will be affected”. From this interview, I learned that debt has a negative connotation and makes people scared.

https://docs.google.com/document/d/1GWKpj9atEOu6UYPkhSVVaxMi-ScSbgfkuQ7-T6yMd-E/edit?pli=1 

“A creditor is worse than a slave-owner; for the master owns only your person, but a creditor owns your dignity, and can command it.” - Victor Hugo. Debt is the root of all evil. People suffer trying to pay off their debt their whole life, never once being able to rest peacefully. They live worried as they will never know when the collector will come for them. Debt is the American way, chaining us up and keeping us as prisoners. Rich people and large corporations should pay off the debt of lower income families as it is the right thing to do, debt causes stress, and it is partly their fault. Although, some people may argue that the rich worked hard for their money and shouldn't give anything to anyone. 

Since 1776, the U.S. had started growing their national debt and people would not be able to borrow money from anyone. In  the 1920s, consumer debt was accumulating more and more each year. It started off as companies borrowing from banks and lending money to dealerships, which would then set up a plan for their buyers. They would be advertised as ‘ a small down payment and easy monthly payments’ to capture the attention of the public. Thus, dragging them to their downfall. Debt is getting higher and higher each year. People are borrowing more money to be able to support themselves and their family in this wretched world. Consumer debt is rising by trillions each year that passes, especially now during inflation where the economy is barely starting to get back on its feet. Based on this research,  debt causes all of us to be chained for life. If your debt is not paid off before you die, your family will take on that burden. Even to their grave, all that will be written on their stone will be debt. 

Debt leads to a decline in both your physical and mental health. The American Public Health Association states  “. . .impacts of unsecured debt . . . stress, anxiety, depression . . . high blood pressure.” (Citation # 4) Stress leads to many other health issues that will eventually impact your way of living. Debt should not be a burden to everyone as they are only trying to survive, and while the rich are taking relaxing vacations, the poor are stuck with worry. The Harvard Magazine states that Medical costs are too high and some people rather risk their health than buy medicine and go deeper into debt (Citation # 3). People would rather die than waste the little money they have on medicine when they are just trying to survive. This is showing how debt can cause a person to literally die. 

Helping the people in poverty is the right thing to do. Billionaire Warren Buffet states how ‘when something is good for society but harms given individuals we have to take care of those individuals.’ (Citation # 1) In other words, what he is trying to say is that no one is left behind. We need to stick together and work through these hardships. Sarah - Nobel states “Many see selflessness as a quality bringing happiness, so the rich themselves may benefit from helping others.” (Citation # 5)  When you help someone out, you feel good about yourself. You know that you have done everything in your power to contribute to the well being of the people in society. 

The rich and large corporations should pay off the debt of lower income families because it is partly their fault they are poor. A world economic forum article states “Huge corporations are using their power to . . . dodge paying their fair share in taxes and influence governments to privatize vital public services like healthcare and education.” (Citation # 2) The rich make the government incentivize vital health services that would benefit the people. They get away with so many things, but we have to suffer the consequences if we even make one mistake. Another article on why the poor stay poor states “it is the possession of wealth that enables individuals to access different – and better – opportunities.” (Citation # 6)  Being rich means you are held to a higher standard since you have access to so many opportunities. Being poor means you don't really have access to the same opportunities as the rich because you simply aren't rich. Money fuels the basis of the economy and decides your future. 

Although some experts may argue that “Many wealthy people work hard for their money…” (Citation # 5) and they shouldn't be forced to give their hard work to people in poverty. They may think that the poor are just lazy people who don't want to work and want everything handed to them. This is not always the case. Some people in poverty try their hardest to obtain jobs to make enough money to survive, but society always pushes them away. They are forced to work in dinners or fast food places because they are not “high quality” enough to qualify for better jobs. Thus, Rich people and large corporations should pay off the debt of lower income families as it is the right thing to do, debt causes stress, and it is partly their fault.

Rich people and large corporations should pay off the debt of people in poverty. When the rich pay off the debt of lower income families, they feel good about themselves because they helped someone who was in need. It is the right thing to do and knowing that you can help someone makes you happy. The rich also incentivize certain health benefits that are a necessity to survive in this economy. Thus, causing the poor to have more health problems while the rich have ‘perfect health’. The rich should help out the poor as we are all united as one nation, leaving no one behind. As the saying goes, "I pledge allegiance to my Flag and the Republic for which it stands, one nation, indivisible, with liberty and justice for all."