- 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 United States that made the biggest impression on me is “90 percent of American families have little or no net assets.2”. This created an impression on me, and it also makes me sad because those American families go into this cycle of poverty, where they work hard for themselves and their families.
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 community? How so? Example?
Some of the implications of living in a society with such a huge wealth inequality would be that low-income people might not live there since it will be more expensive. The lower classes will be unable to advance. It is hard to get out of the cycle of poverty. However, For instance, wealthy families have better education. Their families can also teach them how to run a business or inherit their family’s member business.