1.The statistics on wealth inequality in the US made the biggest impression on me. It’s that fact that 40-50% of American wealth is concentrated in 1% of the population.It’s more sad than impressive because the 99% of the united states population are economically struggling like it was showed in module 4 where we learned that even the middle class is struggling;to the bottom of the ladder where basically low income families have little to no assets .It’s very different for higher income families since most of them obtain their wealth inherited from their own families because the higher class pay less taxes than the working class .
2.In my opinion some of the implications of living in a society that has such a huge wealth inequality is the limited access of basic needs in a low income community like healthcare and education. Some other implications in my opinion are also higher crime rates in those low income communities because as sad as it sounds some people in low-income communities tend to go for the easier route and try to find money wherever they can. I see this dynamic play out in our society everyday because sincerely people are getting exploited to work multiple hours and their salaries only cover their bills.From personal experience i’m a college student who works full time and my salary only covers so much .

1.Which statistic on wealth inequality in the US (discussed on p. 29) made the biggest impression on you? Explain why? One statistic that really hit me is that the wealthiest 1% of Americans own a huge percentage of the nation’s wealth, while the bottom 50% barely own anything at all. It’s mind blowing to think about! It shows how a tiny group has so much power and resources, while many people struggle to make ends meet. It just makes you realize just how unfair the system can be.

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?

Living in a society with such a big wealth gap can lead to many issues. It creates frustration and tension when you see some people living in luxury while others struggle to afford basic needs. This inequality affects access to education and healthcare, too. For example, in my community and many others, wealthier neighborhoods have well-funded schools with great facilities, while schools in poorer areas often struggle with outdated materials and overcrowded classrooms. It feels really unfair because those in lower income areas are at a disadvantage from the start. This just shows how wealth inequality can impact everyday life and limit opportunities for many people.

In the U. S. , the top 1% of households hold more wealth than the bottom 90% combined, showcasing extreme wealth inequality. This concentration of economic power highlights disparities in opportunity and social mobility. It raises concerns about fairness, justice, and the democratic system’s health. The inequality challenges equal opportunity ideals and emphasizes the necessity for policies addressing systemic barriers to wealth distribution, illustrating how a small elite can influence economic policies to the detriment of the majority.

Living in a society with substantial wealth inequalities can cause decreased social mobility, political influence, social fragmentation, and fitness disparities. Wealth attention hinders upward mobility, limits democratic participation, creates divisions, and correlates with fitness disparities. In ordinary life, those dynamics are glaring in schooling disparities, housing challenges, and unequal get entry to to offerings like healthcare. Wealthier regions frequently have better-funded schools, even as growing housing prices can displace lower-profits households via gentrification. Individuals with better earning have get entry to to non-public healthcare, even as lower-profits people depend on underfunded public offerings. These implications of wealth inequality form the reviews of people and communities, highlighting the want for a extra equitable society.

The statistic that made the biggest impression on me was the fact that the top 1% of Americans
own more wealth than the bottom 90% combined. This stark contrast in wealth distribution is
alarming because it highlights the vast inequality in the U.S. and underscores how much wealth
is concentrated in the hands of a small group of people. It’s hard to imagine how a small

1. The statistics that made the biggest impression on me was the discrepancy among the “richest 20%.” The wealth disparity between the wealthy and the working class is already a matter of concern. However, it worsens when the difference between the top 1% and the average top 20% is around 4.5 times. A person would be in the “richest 20%” if they make $75,000, while to be in the top 1%, an individual needs to make $350,000 or more. The top 1% – consisting of around 145,000 individuals, had their aggregated income increase by almost 600% over three decades, while the bottom 90% experienced a 7% decrease in income during the same period. It shows an economy that has delivered extraordinary gains to a small percentage of the population while leaving most Americans worse off. The sheer magnitude of this disparity – a 600% increase versus a 7% decrease – is striking and suggests a fundamental imbalance in how economic growth benefits are distributed.

2. Some potential implications of such vast wealth inequality could include:

1. Political influence is concentrated among a small, wealthy population
2. Lack of economic mobility for most of the population
3. Inadequate access to education, healthcare, and housing for lower-income groups
4. Consumer spending constraints limiting overall economic growth

These dynamics play out in everyday life in various ways. For example, the rising cost of higher education and increasing student debt burdens reflect how wealth inequality impacts access to opportunities. The growing homeless population in many cities reflects the widening gap between rich and poor. Political campaigns heavily funded by wealthy donors and corporate interests demonstrate how concentrated wealth can strongly influence politics. Workers’ struggles to attain living wages while CEO compensation soars show how the distribution of wealth and economic growth opportunity is unfair for people from different classes. On top of that, the wealth being accumulated by a small percentage of the population also hampers economic progress. The circulation of money and wealth is essential for a thriving economy. However, due to this wealth disparity, lower and middle-class people do not have enough spending power to buy their necessities. On the other hand, despite having more than enough spending power, wealthy people do not spend their proportionate share due to limited necessities. Hence, it impacts the economic growth.

1. Which statistic on wealth inequality in the US (discussed on p. 29) made the biggest impression on you? Explain why?

The statistic on wealth inequality in the US that is discussed on p. 29 which made the biggest impression on me was the fact that 90 percent of American families have little or no net assets at all. It was surprising because of two main reasons. First, I really thought this number would be much lower since I was under the impression that owning a car, house or having some savings for retirement was something most people have. or at least one they have of those three. Second, I was even more surprised to understand that none of these considered assets if you have loans, debts and mortgages. It is shocking to realize that most of Americans (including myself apparently) don’t have any assets.

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 consequences of living in a society that has such huge wealth inequalities are:

1. The wealthy minority gain disproportionate political power which helps them pushing for policies that serves their interests. These policies oftentimes hurt the middle-class majority, who’s voice is disregarded.
   1. Limited social mobility that makes it harder for lower-income people to improve their living conditions.
   1. Unequal access to healthcare, education, and housing.

I do see this happening in the U.S. today. Lobbies, often control by the wealthy, are pushing for policies that favors the wealthy. For example, the NRA, which serves as a firearm lobby, stopping policies that can limit the use of firearms in the US although gun violence (and especially school shotting) has been a major issue in the US.  NRA are using their wealth as political power which is both dangerous and absurd.

Kinder-brand chocolate eggs are banned in the US because they are dangerous to kids. In fact, the U.S. Consumer Product Safety Commission (CPSC) deemed them so dangerous, that in 1997 they conducted a recall of these eggs and released a statement calling to “immediately take them away from young children”.

Apparently, US legalizers will ban something that is not banned anywhere else around the globe but at the same time will refuse to limit guns which are limited in most of the world, simply because of the political power wealthy people have over them.

(https://www.cpsc.gov/Newsroom/News-Releases/2006/CPSC-Warns-of-Banned-Kinder-Chocolate-Eggs-Containing-Toys-Which-Can-Pose-Choking-Aspiration-Hazards-to-Young-Children)

1. Wealth Inequality Statistic

The income distribution graphic is shocking. It says that only 1% of the wealthy people in the US have more material wealth than the remaining 90% of the nation’s population. This is made possible by the capitalist model, where owners of the factors of production benefit much more from the surplus value than the workers who earn meager wages and salaries that do not even reflect the value of what they produce.

2. Implications of Wealth Inequality

Inequality increases wealth disparity, thereby leading to several social impacts. It leads to what can be described currently as the prosperity of the affluent and the suffering of the poor and needy. Thus, inequality seems like a normalized aspect of life by presenting it in issues we face today, such as skyrocketing housing prices, people unable to afford medical care, and education being unavailable to you if you are not wealthy enough to attain it(Parenti, n.d.). The accumulation of wealth into a few hands maintains a class system in society and exposes workers to uncertainty.

1. Which statistic on wealth inequality in the US (discussed on p. 29) made the biggest impression on you? Explain why? I think the statistic that made the biggest impression on me was the fact that 90 percent of American families have little or no net assets. This surprised me the most because I had thought that a majority of people who are considered “middle class” would’ve ended up owning at least some net assets, which would’ve made that number much smaller (I was thinking about maybe 75-80 percent). The fact that 9/10 families living in America, which includes middle class families, owns little to no net assets is staggering to me. 

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? Some of the implications of living in a society that has such huge wealth inequalities are there being thousands of people going around the streets who are ill-fed and ill-housed, begging for spare change here and there from anyone that is generating income, while the wealthy continues to try to live lavishly by continuing their companies and buying new cars. Another implication would be thousands of people trying to look for work in order to sustain themselves while the rich end gaining a lot of money from the labor that the working class needs to provide in order to sustain themselves. I do think that I see these dynamics playing out in everyday life in our society due to just how large the population of the United States is and how big the inequality differences are. An example of this that I could think of would how many people who are looking for jobs are willing to work for Mcdonalds, which is typically considered to not be an ideal job choice due to the wage that you get paid, but because people need jobs in order to sustain themselves, many people are taking jobs at Mcdonalds in order to get through their expenses and the surplus value that the workers end up generating just ends up making the McDonalds’ company that much richer. 

discussion board 5.3

1. The wealth inequality in the US that made an impression is that in order to create value you need labor workers, without labor workers it’ll be hard to create value. When labor workers put their time and effort into working and achieving something it becomes valuable. Money grows from the labor workers work but labor workers get paid less for the amount of work they do.
2. This dynamic gives one class to have more wealth and power compared to others. This happens in our everyday life, for example some people have the advantage to study at an expensive college while others aren’t because of their income.

1. When I read through “Concentration of Capital: Who Owns America” by M. Parenti (page 29) , personally it was quite shocking to learn that the top 1% of wealthy Americans own almost as much wealth as the bottom 90% of Americans combined. This stark difference highlights how wealth is extremely concentrated in the hands of very few, which is a big concern. This disproportionate share of wealth highlights the issue of economic inequality and the system through which wealth is concentrated and maintained in the hands of a few. 
2. Huge gaps in wealth can lead to a society where there’s a clear line between the wealthy and everyone else, creating feelings of disconnect and unfairness. When most of the wealth is with the very rich, everyday people have less to spend, which can hurt businesses and slow down the economy. Those with wealth often have more say in politics, which can lead to laws and policies that favor them, making it even harder to address inequality. You can see these issues in real life, for example, in cities where only the very wealthy can afford to buy homes while others struggle just to pay rent. Or in schools in wealthy areas that have more resources compared to underfunded schools in poorer neighborhoods, affecting the quality of education and future opportunities for those students. These examples can be seen clearly especially in New York City.