1.) Although page 29 of the text included various statistics on wealth inequality in the United States, there was one that specifically stood out to me. “True, about 40 percent of families own some stocks
or bonds, but almost all of them have investments of less than $2,000.” This quote is a statistic that specifically talks about the middle class, a social class that continues to struggle in creating a clear difference in wealth. I believe this statistic stood out to me the most considering the somewhat high percentage, which is 40. I actually thought it would be more like 10-15, possibly 20 percent because the middle class is still not quite wealthy or in a place of good standard. They still have to deal with many responsibilities such as debt and mortgages/rent, which all require an immense amount of money. I’m honestly proud that the middle class has a decent percentage of people who own stocks and bonds. What is not so good about this though, is the fact that it is equivalent to roughly $2,000 or less, which is nearly nothing when you think about it. Obviously, it would be better if it were a higher amount but I think that is still worth thinking about because it’s in the thousands rather than something very small-like a meager $100.

2.) Living in a society that has such a huge difference in wealth that causes inequalities can cause various implications. For starters, it exploits disadvantaged populations such as the middle and working class Although the middle class is believed to be “better off” because they are people who obtain higher yearly income and are able to possibly achieve things that are of worth, such as a home. But they are struggling to keep this difference between themselves and the working class because they can’t seem to maintain a stable or higher income to achieve more. Also, these classes seems to statistically just keep getting bigger whilst the upper class remains the same because those who are wealthy remain to be. Also, it will hinder economic growth because without a middle class being more present, there is not enough room for people to work and contribute to the country’s development. There needs to be some sort of balance where people are able to sustain their lives without missing out in another aspect. An example I can give of this is in pertains to the working class families. Many of them struggle to have the basic necessities; food, clothing, and shelter. Although many of them have jobs, a great amount of others do not-hence the rise in homelessness. People see no other option but to rely on the government for benefits, such as “SNAP” or the supplemental nutrition assistance program. We see this example in our everyday lives, especially now considering inflation. The prices of things were at an all time high, food was no exception. In order to qualify for such a government program, your yearly income must be close to almost nothing. With such high prices for food, the money given from this program would not be able to support someone a lot because the prices have increased-meaning the money would not stretch enough to allow someone to have more. Not to mention, since inflation started to raise the prices of many things drastically this year more than any other, it is safe to say that people struggled more than anything. People started to see poverty more and rely on the government in hopes of seeing a way for themselves given the current circumstance of today.