Statistics on wealth inequality in the US (discussed on p. 29) that made the biggest impression on me was “The richest 1% of Americans possess roughly 40-50% of the country’s wealth… more than the combined wealth of the bottom 90 percent.” This statistic emphasizes how wealth is centralized amongst only a small portion of individuals. This data also underlines the economic imbalance that is prevalent in our society. The magnitude at which this imbalance exists is disturbing. Knowing that only a small percentage of people have access to the nation’s resources, while those who struggle to make ends meet are the same ones keeping helping generate the majority of capitalist wealth. Meanwhile, the wealth distribution remains unequal.
Wealth gaps have high impacts that trickle down to both personal and social levels. We tend to see this throughout our everyday lives. For example, someone who is wealthy and well-paid can afford to live conveniently within the fast reach of their workplace, have faster access to public transportation, or simply drive/uber to work as well. Whereas, someone who is low-middle class and receives lower pay lives in more affordable areas farther from their workplace. Leaving them to deal with a costly commute or crowded public transportation, that often affects their punctuality and income.
