Source: https://www.youtube.com/watch?v=QPKKQnijnsM
Username: Politizane
“The ideal distribution of wealth is as far removed from our perception of reality as the actual distribution is from what we think exists in this country.”
Username: Politizane
“The ideal distribution of wealth is as far removed from our perception of reality as the actual distribution is from what we think exists in this country.”
The bottom graph displays what Americans chose to be the ideal distribution of wealth in the US. The top one displays what Americans think is the actual distribution of wealth. The truth is that what we think is true is further away from the actual truth than the ideal distribution.
This is another graph from the video and the green in the graph is all of the money in America. There are then 100 people at the bottom that represent all of the classes in America. The graph shows that the top 1% of America controls over 40% of the wealth in America. On the other hand, the bottom 80% of the people in America only control 7% of the wealth in America. The top 1% also controls over 50% of the countries stocks, bonds, and mutual funds, while the bottom 50% only control .5%. This means that there is very little investing, they are just scraping by. The average CEO works very hard, but is he really working 380x harder than his average employee? The average employee needs to work over a month just to earn what the CEO makes in just one hour.
I liked how you showed how wealth inequality is a big issue through the use of the graphs. This blog really brings light to how much the upper class has. In your next blog maybe talk about how the people in the middle/lower class can work themselves up to more money. Also consider how the upper classes' money is important to the economy because they spend it, creating more jobs, and then more money for people in the lower class.
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