- Which statistic on wealth inequality in the US (discussed on p. 29) made the biggest impression on you? Explain why?
The statistics on wealth inequality in the US that made the biggest impression on me is that to be a part of the “richest” 20 percent, you need to earn only $75,000. I would think they needed to earn much more money to be considered part of the “richest 20 percent,” and they are not really rich but upper-middle class.
2. What could be some of the implications of living in a society that has such huge wealth inequalities? Do you see this dynamic getting played out in everyday life in our society? How so? Example?
The implications of living in a society that has such huge wealth inequalities is that large corporations double their assets while eliminating millions of jobs for the working class. Yes, I see this dynamic playing out in everyday life in our society because we see companies such as Google, which cut around 1,000 jobs in many of its divisions and have been heavily invested in AI and cloud computing. They have to reallocate resources and personnel, which has led to layoffs.
