- Which statistic on wealth inequality in the US (discussed on p. 29) made the biggest impression on you? Explain why?
“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.”
This is the statistic thar made the most impression on me because of the unbelievably large gap between those who have and those who do not have, and the comfort gap for these two groups of people. It is really hard to fathom the amount of wealth and money that the top 1% of this nation have. - 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?
It is heartbreaking to see people trying their hardest just to survive and get by, living from paycheck to paycheck while others don’t have to worry about a thing and would never have to work another day in their life; their grandchildren might as well not need to work a day in their life. It is sad to know that many people are having to deal with health issues just because they cannot afford seeing a doctor or buying a medicine, while others take medical care for granted. It is sad to know that some people never left their county/state because it is too expensive for them, while others can hop on their private jet and fly just about anywhere they want, whenever they want to.
It is also not so hard to imagine the influence and power that these amounts of money can get you. Politics have always been influenced by the wealthy, and many wealthy people trying to shape policies and have it their way so that they can benefit from them, making the wealthy wealthier and the poor poorer. Money and politics were always seen entangled with each other ever since the greatest civilizations arose.
