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

1.I think that the wealth inequality between the top 1 percent of people in America and how disproportionate it is considering they make up 40- 50 percent of the nations wealth and how it is more than the bottom 90 percent of people combined. This shows how wealth very unfairly divided among people and how people at the top are able to control things with just money alone. While the rich get richer the poor stay poor is a phrase that still stays very true to this day as elites and people in power exploit working class people keeping them poor.

2. Living in a society with major wealth inequalities leads to problems such as communities lacking necessities and other resources which can lead to distress and civil unrest. It can also lead to generational poverty where people don’t have many options to gain more wealth. For example people born with wealth have more options to go to good schools to get a good education that will almost guarantee a decent job, good health care and better quality of life having less issues to deal with such as debt, social and financial hardships, etc… These inequalities will always keep the wealthy in power because they have more resources and better resources than the average person.

1) One statistic on wealth inequality in the US that made a significant impression is the fact that the top 1% of Americans collectively hold a disproportionately large share of the nation’s wealth compared to the bottom 90%. This statistic is striking because it highlights the stark disparity in wealth distribution, indicating a system where a small fraction of the population possesses immense economic power and resources while the majority struggle to accumulate wealth. This imbalance is concerning as it can exacerbate social tensions, limit economic mobility, and hinder overall societal progress.

2) The implications of living in a society with such vast wealth inequalities are multifaceted. Firstly, it can lead to heightened social unrest as marginalized communities feel disenfranchised and economically disadvantaged. Secondly, it perpetuates a cycle of poverty where individuals from lower-income backgrounds face systemic barriers to accessing opportunities for advancement. Additionally, it can result in political polarization and influence, where the wealthy exert disproportionate control over policymaking and resource allocation. This dynamic manifests in everyday life through disparities in access to education, healthcare, housing, and employment opportunities. For example, wealthy individuals may have access to better quality healthcare and education, perpetuating a cycle of privilege, while those with fewer resources struggle to meet basic needs and access essential services. Ultimately, addressing wealth inequality requires comprehensive policy interventions aimed at promoting economic equity, redistributive measures, and ensuring equal opportunities for all members of society.

1. The statistics that showed top 1% of the population owns between 40% and 50% of the nation’s total wealth made the biggest impression on me. This showed how influential they are and how much control they have on the government and the working class. It was frightening. The difference in tax payments, the exploitation of the working class directly impact the working class and their future generation and this widens the social disparity. 
2. Huge wealth inequalities make it more challenging for the working class to live decent lives and improve their overall well-being. Money is power and the power dynamics can be seen in every aspect of the society. We can see this dynamic getting played out in everyday life. For example, it is hard to afford things like “organic foods” for people in the working class. If they eat cheaper, processed foods, it can cause health problems, and they might not have enough money to pay for medical bills. When it comes to education, working-class kids usually go to public schools. These schools may not have the best resources and might not offer as good an education as the fancy private schools. 

1-The statistic that made the biggest impression on me is the wealth gap between the top 1% and the bottom 90% of the population. This statistic is striking because it reveals the stark contrast in wealth distribution, indicating a significant concentration of wealth among a small fraction of the population. It underscores the widening gap between the rich and the rest of society, raising concerns about social and economic disparities.

2-Living in a society with significant wealth inequalities can lead to various implications, including social unrest, limited social mobility, and disparities in access to opportunities such as education and healthcare. This dynamic is often manifested in everyday life through visible disparities in living standards, educational attainment, and access to resources. For example, in affluent neighborhoods, individuals may have access to better schools, healthcare facilities, and job opportunities, while those in economically disadvantaged areas may struggle to meet basic needs and face barriers to advancement. This disparity perpetuates a cycle of inequality, reinforcing social divisions and hindering overall societal progress.

1.The wealth statistic that struck me the most is the notion that your economic status is heavily influenced by the family you’re born into. The idea is that if you’re not wealthy, it’s not due to a lack of effort, but rather, the luck of having affluent parents. Even though there are stories of individuals rising from poverty to wealth, these cases are highlighted as exceptions rather than the norm. This revelation was surprising because it implies that your family background significantly shapes your economic opportunities, and it’s not entirely within your control if you’re not in the wealthy or middle-class category.

2.Residing in a society marked by extensive wealth disparities contributes to the rise in poverty as there are limited income sources for the less affluent. The vast wealth of the super-rich is immensely disproportionate, with their fortunes being thousands of times larger than the income of the poorest individuals. This imbalance is evident in daily life, exemplified by the fact that corporate profits have more than doubled, and income generated from investments has outpaced income earned through work by two or three times. This scenario underscores the perpetual advantage held by the wealthy.

The statistic that gave me the greatest impression was the abysmal difference given by the percentage of the 1% of the population in the US that owns 40 to 50 of the total wealth of the nation, in contrast to the 90% of the population that, even adding up their wealth, totally fails to reach the wealth of that 1% of the population. On the other hand, I also find the average investment of $2000 per family alarming. Both cases of wealth are far from the image that the US and its population have in the rest of the world, there are secondary effects on the population that fuel violence, low self-esteem and so many important aspects of society in general, and I am understanding more and more the roots of the problems that is seen in the streets and that as an inhabitant of this country, I am also struggling. 

The reading is very interesting, it reveals aspects that I did not know about the management of productivity, sales, investments, the disparity in tax payments, the exploitation of the working class, and racial discrimination. Of all these aspects, the one that bothered me was the percentages of companies’ profits, percentages that are growing while they provide fewer and fewer salary benefits to employees. Something that touches me very closely is seeing the pressure from employers towards employees to workers for do a greater amount of work in less and less time, with less and fewer payment benefits and with 1 week of vacation per year, it is exhausting, we need money for pay bills, but doing heavy works affect the healthy routine in house, affecting our relationship, always we try to be well but it is hard to maintain the balance to work, money, mental health, and personal relations. It’s too much information to process, wealth disparity is seriously affecting American society. 

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

• While reading M. Parenti, “Democracy for the Few” (Cengage, 2008), p. 29, the wealth inequality statistic that had the biggest impression on me was that “90 percent of American families have little or no net assets”. Even though this is not shocking to me growing up low-income, I think since I grew up low income and with no asset’s I thought it was attainable for most people in the US. 

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 from living in a society carrying huge wealth inequalities are that  capitalists control and exploit communities by creating scarcity in the job market. Another implication is that working class individuals below the poverty line are forced to have multiple jobs or work insane hours at low pay because capitalists are hoarding wealth. This dynamic is played out everyday in society and I have seen this dynamic more than once in the workforce. An example of this would be what I stated in my last DB, my boss outsourced the mundane part of my receptionist work for about $15 less than if I was to do it. 

1. The statistic on wealth that made the biggest impression on me is “ if you are not rich it is because you lacked the foresight to pick the right parents at birth , studies show that despite the well publicized cases of self made fortune rags to riches is relatively rare exception “. This shocked me because you cannot choose what family you are born into so it’s not necessarily your fault if you are not wealthy or middle class .
2. Living in a society that has such huge wealth inequalities would make the poor population increase because they would not have much source of income. The super rich would be thousands of times richer than the poorest fraction . I see this being played out everyday because for example “ corporate profits have more than doubled , income from investments has grown two or three times faster than income from work “ . This shows that the rich would have the upper hand always .

1. The statistic on wealth inequality in the US that made the biggest impression on me was the statistic that stated that ” the”richest ” 20 per- cent, you need to earn only $75,000”. This surprised me because $75,000 is only considered upper middle class meaning that “only” 20 percent of Americans are upper middle class. It just made me think about how rich the one percent really has to be. Even more surprising is the fact that it is just 1 percent while everybody else fits into categories of 20 percent. 
2.    Some of the implications of living in a society that has huge wealth inequalities can be lost of right and voice followed by inflation. Money is believed to be power and so when only 1 percent has enough money for power, the rest of the public is disregarded. This is followed by inflation because since only the wealthy are privileged, prices skyrocket to their range. This leaves the other classes with less opportunities, more health issues and less job availability. This is a dynamic that is played out in society, not only with class but race also. There is an obvious trend where kids born into families in lower classes have little to no chances of social mobility. An example can be seen in education, which kids get to access the best schools?