1. I found it quite interesting that most remain in the social class that they were born in. In my optimistic mind, I always believed that there was a large chance for people to change their families history and elevate their social class for their future generations.But it’s statistically proven, that it’s most likely for one to inherit their parents social class and carry on with it.
2. There are several implications that can arise, and have arisen as a result of living in a society with large wealth inequalities, an example being human rights and basically necessities being inaccessible for the lower class individuals.Education is a fundamental human right, with it being harder for parents to pay for high education for their children they are then missing out on the opportunity of securing college and future jobs for that child.It could also lead to all important political and social decisions being largely influenced by the wealthy, as they hold the true value in society.I definitely do see the scenarios being played out already, a lot of tax laws currently are being shifted to benefit the wealthy and is ultimately harming the lower classes.And education wise, all of the wealthy private schools that provide top notch education that guarantee a bright future for students are inaccessible for the lower class, harming their future.

1. The statistic of the top 1 percent owning between 40 and 50 percent of the nation’s total wealth. That includes stocks, bonds, investment funds, land, natural resources, business assets, etc. This is more than the combined wealth of the bottom 90 percent. In comparison to the 40 percent of families that own some stocks or bonds, but they only accumulate no more than $2000. The 90 percent of families have little or no assets unlike the vast amount of debts and mortgages. It can be said that there is no regulation between the top 1 percent and the rest. It changes the perspective of the US being a “mostly broad affluent middle class society”.  

2. Some implications can be a sense of superiority between those of higher class against lower class people. Where income and wealth matters to an extent of getting something more easily. I have seen this before in some cases of the new playstation 5 pro coming out with reserve orders before the initial public release. In these cases the prices are higher given that they are limited and the stock replicas will be sold out soon. The rest of the public will buy and resell for higher prices as to make up for not being able to afford the pre order sale before. Leaving the people who can’t afford either in a financial hold to wait even longer for a fair price. Restriction of social mobility is a main one where having greater wealth gives more access to higher education quality, healthcare, and opportunities for a better quality of life. People who don’t have the wealth or may only be able to afford one aspect of these benefits with their wealth don’t get to reach their full potential. This is often passed down in their families. For example those in remote rural areas than those in urban main city districts have to travel to get a chance of partaking in greater economic and social development opportunities. Or they get left out from advancing forward.

1. The big impression is no surprise that “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.” Majority of the nation’s population is “working class” and it’s a struggle. What we ideally want as a nation is for all to strive evenly, but it is impossible when the rich get richer and more greedier.
2. In America, wealth inequality has a detrimental effect on the majority of citizens, many of whom have struggled to thrive since the 1980s. Reflecting on the period since the 2000’s reveals that significant challenges have persisted. Numerous banks were paid in 2008 and on the other end of that many people were losing their jobs. While wages have seen some increase, rental prices have surged even more dramatically. Recent events surrounding DOGE, along with proposals from Elon Musk and Trump regarding a $5,000 payment to citizens, highlight this growing disparity. As a society, we inherently seek fair compensation for our labor, yet the wealthy seem to accumulate their fortunes with ease. In places like Los Angeles and North Carolina, citizens are losing their homes in their attempt to regain stability, even as we allocate billions in taxpayer dollars to participate in wars that may not be in our best interest.

1. Which statistic on wealth inequality in the US (discussed on p. 29) made the biggest impression on you? Explain why?

After reading P.29, I can honestly say that, “40 percent of families own some stocks or bonds, but almost all of them have investments of less than $2,000” made the biggest impression on me mainly because even though that 40% of families own some stocks and bonds, the majority of those investments on the other hand are very small especially with most families holding less than $2000 in investments.

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 society? How so? Example?

Some implications of living in a society that has such huge wealth inequalities would be poorer health outcomes or the less wealthy. I do see this dynamic getting played out in everyday life in our society, healthcare, access to education and housing and even our social interactions with individuals out side in society has changed rapidly, depending on that person’s background and the group they’re placed in or viewed a lot of people tend to surround themselves with people that matches their status/ social background whether you’re from lower economic background, people with lower tend to have fewer opportunities to participate in such as education, career choice advancement and quality of healthcare services. These are all happening in our everyday life/ society.

1) The statistic of the bottom 90 percent of the population owning less of the country’s total wealth than the top 1 percent is very grim. The statistics in this reading are quite depressing, as it seems like in America corporate greed overrules human needs. There are capitalists in this country who are sitting on billions of dollars while the working class can barely afford to live. Forced to live paycheck to paycheck, drowning in debt, having to eat bio-engineered “slop” for food, being pushed some sort of fantasy that the people exploiting you are doing it for the greater good. The ideology is so deeply ingrained into our society that any socialist movement is immediately seen as a threat.
2) Living in a society with such huge wealth inequalities limits people’s social mobility and access to basic needs. When capitalists are so focused on only growing their own wealth, it leaves people in poor financial situations with way less accessibility to better job opportunities, private education, quality healthcare, or even something as simple as nutritious food. Many of these basic needs are what allow a person to have normal living conditions where their day-to-day doesn’t have to be a constant struggle. Why is it that so many employers of well paying jobs seek out employees that went to private institutions for school? Usually, the only way to even graduate from these schools is to be extremely wealthy or go into debt for the rest of your life. If quality education was available to everyone would that not benefit more people? Public education, especially in low-income communities, is extremely underfunded. That same top 1 percent benefits greatly from keeping people uneducated, another great way to keep people docile and not start questioning the system that keeps them where they are.

1.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.”- I was most impacted by this statement because it made me realize how much wider the wealth gap is, than I had previously thought. In addition to changing how I see things, it helps me understand more fully the notion that people are either born into wealth or poverty.

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 society? How so? Example?

*There are significant impacts to living in a society where wealth gaps are very frequent. The working class has fewer options regarding where to live and work, while the wealthy control employment opportunities and technological advancements. Yet lower-income families are displaced, for example, when wealthy investors purchase affordable housing. Workers who rely on their jobs to survive are frequently taken advantage of by business owners in ordinary situations. Retail and fast food workers endure low pay, unfavorable working conditions, and unstable employment. Uber drivers and other gig workers can be readily replaced, while the wealthy keep gaining wealth and influence while remaining oblivious to the struggles of the working class.

1. The statistic on wealth inequality that stood out to me the most was, “90 percent of American families have little to no assets”. This statistic was shocking to me because so many Americans live paycheck to paycheck. It makes you wonder if our society was destined for its people to fail. This statistic proves the saying “the rich get rich and the poor get poorer” to ring true.
2. As someone who as grown up in a society that has huge wealth inequalities, it can limit your access to different opportunities, proper education, adequate health care, and more. This dynamic is being played out in our society today. For example, a wealthy family creates generations of children who will either never have to get a job or have a guaranteed job through the family business or connections. A low income family will have to depend on their jobs for income and work for years before they can retire. Their paychecks don’t allow them to build generational wealth.

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 statistic is shocking because it reveals just how concentrated wealth is in the hands of a small elite, highlighting the extreme gap between the richest and the rest of society. The fact that the top 1 percent control more wealth than the bottom 90 percent combined shows how unequal economic power is, meaning the majority of people have little financial security. This also means that the U.S. is not the land of equal opportunity.

Living in a society with massive wealth inequalities can lead to a huge disconnect amongst people that are disenfranchised and the people who are wealthy. This causes a lack of trust in institutions and the government. Additionally, wealth inequality can perpetuate cycles of poverty and hinder social mobility, as those born into less wealthy families may not have access to quality education, healthcare, or opportunities to build wealth, making it harder for them to improve their circumstances. In everyday life, this wealth inequality dynamic can be seen with the increase in the number of people experiencing homelessness even though they work full-time jobs reflects how the economic system disproportionately benefits the wealthy. People working multiple jobs to make ends meet while struggling to afford basic needs like healthcare, housing, or education as well.

Which statistic on wealth inequality in the US (discussed on p. 29) made the biggest impression on you? Explain why?

1. The statistic: The top 1 percent own between 40 and 50 percent of the nation’s total wealth. More than that, the combined wealth of the bottom 90 percent made the biggest impression on me. This statement shows how really vast the gap in wealth really is compared to my understanding of what I believed it was. This not only gives me more insight into my perspective but a better understanding of the notion that you are either born rich or you are born poor.
   
   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?
   
   2) Some of the implications of living in a society that has such huge wealth inequalities are such: the rich control the rate of technological development and the availability of livelihoods. The working-class individual will have less and less of a choice in the environments they wish to live and work in, while the rich continue to buy land, resources and push out who they consider a lower class than they are. I do see this dynamic getting played out in everyday life in society. Business owners will take advantage of the working class, knowing they need the jobs and money just to get through the day to day. Workers deal with bosses or business owners berating them and threats of unemployment. As for the rich, you are easily replaceable.

1. Which statistic on wealth inequality in the US (discussed on p. 29) made the biggest impression on you? Explain why?

The part that sticks out the most for me is when it speaks about the 40 percent of families that do invest and own stocks, yet still have little or no net value because of the debt they’re in. It just goes to show the cycle of poverty and how it continues. 

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 society? How so? Example?

Wealth inequalities greatens the divide between the social classes, in turn it creates feelings of hate and animosity on both ends. This is currently playing out in our society as we continue to watch the administration favor the top 1%