Module 5.3

1. What made the biggest impression to me was that the inequality in wealth is that the top 1% of Americans hold more assets than the bottom 90% combined. This figure exemplifies the excessive concentration of wealth in the United States, where a small minority of the population controls an unfair share of the country’s resources. The wealthiest 1% of Americans hold more money than the bottom 90% combined, thanks to inheritance, stagnant wages, inequality in income, favorable tax policy, and capital ownership. These elements form a self-reinforcing system in which the few can continue to collect and enhance their money while the majority struggles to overcome finances, resulting in increased inequality.
2.The disparity in wealth has far-reaching consequences, ranging from decreased social mobility and political power to economic instability and social dissatisfaction These dynamics are manifested in everyday life through differences in education, healthcare, housing, and political power, resulting in a society in which the rich continue to prosper while the poor face growing hardships. This mismatch has long-term societal effects, including increased division, instability, and a collapse in social unity. For example I come from a low income family which lead to me taking out student loans to help pay for my education. While I was working full time to cover my expenses, the cost of tuition and living was too expensive without trying to avoid borrowing.

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.

1. One surprising statistic about wealth inequality in the U.S. is that the top 1% of households own about 40% or more of the country’s wealth. This is shocking because it shows how a small number of people have so much money, while many others struggle to get by. This big gap can lead to unfairness in things like political power, education, and job opportunities, making it harder for most people to succeed.
2. Living in a society with big differences in wealth can lead to many problems. For example, people with less money may struggle to afford basic needs like food, housing, and healthcare. This can create tension and division between rich and poor people. In everyday life, we see this when wealthy neighborhoods have nice parks and schools, while poorer areas may lack basic services. For instance, a child in a wealthy area might have access to better education and resources, while a child in a low-income area may not have the same opportunities.

1. wealth inequality is always going to be in society as stated on page 29, “if you are not rich, it is because you like the foresight to pick the right parents at birth” to my understanding in the reading is the class is usually inherited.Stated on page 29 “rags to riches is rare”. The wealthy would not be wealthy if I wasn’t for the help of workers .Without labor nothing would be possible. Marx had mentioned capitalist is sustained by exploiting the working class and this will always be unfair.
2. we see the inequality now in society. Example would be the election, how so much money going into this one election with many people having to work to make the election happen. Making the wealthy more wealthier. The working class has to work to make money because they do not have the luxury of wealth.

In the sub-title’s passage of “who owns America”, The top 1% being 40-50% of the nation’s wealth has more than the combined wealth of 90% of the bottom family’s wealth. which is surprising because they base their wealth off of investment funds, business assets, stocks, etc., but a lot of them only have investments under 2k. The other families (Bottom 90%) have almost no assets which makes you think, the top 1%gets their wealth passed down by generations, which is why it’s so hard for the poor to become wealthy or gain a lumpsum of wealth. This dynamic is still an issue in our current economic status with social class being an example of wealth inequality, we put individuals in categories determining their social classes based off their income.

1. The statistics on wealth inequality in the US on page 29 that made the biggest impression on me was the fact that the top 1% of Americans own more wealth than the combined wealth of the bottom 90%. This data is important because it illustrates how concentrated financial power has become in the US. A tiny, elite group owns the great bulk of the money, while the vast mass of people only owns a little portion. Economic mobility, political influence, and the general well-being of the country are all significantly impacted by this wealth disparity. In a society like this, those in the lower-class face challenges in providing their financial situations. For instance, having access to good housing, healthcare, and education is frequently correlated with wealth. These needs get harder for many people to afford as the gap grows, which feeds the cycle of inequality and poverty. It also highlights the ethical question of how millions of people are struggling to make ends meet while a small number of people own so much of the nation’s resources.

2. Living in a society where there is a huge gap in income has a lot of effects on people’s lives as well as the general way society functions. The decline in social mobility is one important effect. It is considerably more difficult for people in lower income groups to move up the social and economic ladder in a society where wealth is so unequally distributed. Financial status frequently dictates one’s access to good healthcare, housing, work opportunities, and education, perpetuating a cycle in which the rich get richer, and the poor stay poorer.

A society whereby the wealthy live in luxury while the poor struggle to meet their basic needs can breed distrust, resentment, and a sense of injustice. This is frequently demonstrated by the growing social movements and rallies that demand greater economic equality and express strong unhappiness with the current situation. This is because those with less resources experience higher levels of stress and have less access to healthcare, it can also have an impact on physical and mental health outcomes.

This dynamic plays out in our daily life. Let’s take housing for instance, the glaring difference between wealthy and poor neighborhoods can be seen in many American cities. This is indicative of wealth disparity. Whereas lower-income neighborhoods frequently deal with inadequate housing, underfunded schools, and bad public infrastructure, wealthy areas are usually well-maintained and have access to decent schools, healthcare facilities, and public services. Gentrification is a good illustration of this: as wealthier individuals relocate into impoverished areas, property values increase and become more expensive for long-term residents, further displacing others from lower-income backgrounds.

1. The top 1 percent own between 40 and 50 percent of the nation’s total wealth (stocks, bonds, investment funds, land, natural resources, business assets, and so on), more than the combined wealth of the bottom 90 percent. These statistics probably made the biggest impression because the working class is the majority and even with all our bank accounts and what little assets, bonds, stocks, and resources the top 1 percent still have more wealth of 90%. It’s almost incomprehensible.

2. Wealth inequality often translates to unequal access to essential resources such as education, healthcare, and housing. Those with less financial means may struggle to access quality education, leading to a cycle of poverty that’s hard to escape. This example so keenly illustrates how wealth inequality effects daily life and influences broader dynamics, negatively impacting everything from healthcare to education to even community cohesion.  This dynamic is and has been played out in our everyday society since there was even a society to begin with.

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 made the biggest impression on me was “Without surplus value, the capitalist could not have come into being, nor could they survive, so that is always in their interests, to seek to increase it either by playing on relative or absolute surplus value, or by some combination of the two”. Wealth inequality has increased I feel over the years and many are putting funds into investments and stocks.

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 implications of living in a society that has such huge wealth inequalities are lower average education levels as many only graduate high school to then begin to put funds into investments and stocks and profits. I do see this dynamic being played out in our everyday life in our society as many want to own designer items and the newest technology. Not everyone can afford these materalistic items however, as long as everyone sees they have some type of wealth, then they enjoy it. The dynamic of wealth now of days did go downhill.

1. I believe that the statistic on wealth inequality that surprised me the most upon reading 5.2 was the fact that 90% of Americans have little to no net assets to their names. The reason why this stood out to me so much was that despite there being families with many different backgrounds, most of them do not have a financial safety net for emergencies. That lack of financial security for a large majority of Americans displays the hidden struggles of being forced to live paycheck to paycheck. It highlights the distribution in wealth and how imbalanced it all is. Based on these statistics, only a small fraction of the country is capable of having the financial means to face the economic challenges that may face them in the future. It brings a possible discussion about the potential for economic stability and how realistic it is for the average American. 
2. Living in a society with extreme wealth inequalities can have implications that affect many aspects of daily life and the functioning of society. One of the most significant implications include reduced Social Mobility. Wealth inequality creates economic barriers, making it difficult for people in lower-income brackets to climb the economic ladder. Being able to acquire access to quality education, healthcare, and job opportunities is often limited to those with financial means, displaying cycles of poverty and limiting social mobility. The increased economic instability can cause the concentration of wealth in the hands of a few leads to economic instability because the majority of people lack the purchasing power to sustain economic growth. The super-rich can have the ability to change certain policies in ways that protect and enhance their interests, such as influencing tax laws favoring the wealthy often at the expense of the broader public.