- Follow this link and read the article about income inequality. Then, follow this link and watch the video. Answer the following questions:
- What are the main points that are made in opposition to income inequality in both the video and the article?
- Do you agree with Stiglitz's assertion that it is now much harder for kids to rise above their parents' station in America (the American Dream)? Why or why not?
- Do you believe that the income divide is a fair by-product of our economy? Or should our government do more to control the inequality? Support your answer with detailed evidence.
- Follow this link and read the additional article on income inequality. Then, watch the video in this link.
- What are the main points that are made in support of income inequality in both the article and video?
- Do these documents change your opinion about income inequality at all? Why or why not?
- Read all of your classmates' posts and respond to at least one.
Monday, February 25, 2013
Income Inequality in America
Income Inequality in America
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1.)
ReplyDelete-Some points made in the article and the video about opposing income equality are to restart and rebuild the economy from the bottom up. The economy has had a huge affect on inequalities in America. Rebuilding could "enable homeowners who are underwater and give them a fresh start". Also, in both the video and the article Joseph Stiglitz mentions investing and entrusting in the younger age group. They will carry on and lead the nation, so we need to make sure they succeed in whatever they try to achieve.
-I do agree with Stiglitz when he says that it is harder for kids to rise above their parents because of our terrible economy. College now can be over $300,000 and as time goes by the price will soon increase. Also, with student loans it becomes difficult for kids and families to pay them. They can take a lifetime to pay and affect your decisions about what kind of education you want. The economy makes it harder for kids to overachieve or out do their parents.
- I think government should take control of the inequality because it was created by the government. Rebuilding the economy will take time, but I think the end result will be worth it. We need to start thinking about our nation's future and the generations it holds. We also need to realize the huge problems in our nation and take action with the problems that we see. These problems include the struggling middle class, student loans, and global manufacturing jobs.
2.)
- Some supporting arguments made about supporting inequality is the "incentive for people to improve their work situation". They feel that if you are at the bottom and suffering, you should take action and change your situation. Another argument supporting inequality is that it is beneficial for our economy's growth. It allows people to focus more on their financial situation.
- After reading the article discussing the pro's and con's of inequality I am going to agree with the fist article. I feel that we should focus on the generations to come, but make the present better now. My reasoning for this opinion is because soon I will have to go to college and I don't want to worry about how long it will take me to pay my loans back. I think it is important to think about whats next and our nation's future. The other article sounds like they want to make some changes, but they are very minimal.
I agree with your stance on income inequality, as it unfair to the poor and the middle-class and only benefits the rich. I agree that people need to work hard to succeed, but as you mentioned, it is difficult to do well without a college degree, and this concern about the rising prices of college would be addressed if inequalities do not exist. Equality is impossible, as it stated in the second video, differences will always exist which will create inequalities, however this idea also enforces the idea that due to these differences inequalities can be minimized. Everyone should have equal economic opportunities regardless of the economic-state they are born into. This is why I believe fixing inequalities is more about giving everyone an equal opportunity (such as the chance to go to college) than making sure everyone makes the same amount. The idea is that if we help the poor and middle class, by taxing the rich, then everyone is bound to succeed. Those who have more than enough (the "one percent") will still be able to do well, while also helping those who cannot afford college and therefore have a hard time getting a job and making a name for themselves. If everyone has equal opportunities, then those who work hard will still succeed, but those who never had a chance to succeed based on their economic state, will now be able to leave their mark on the world. While differences will always exist, these inequalities can be significantly reduced if everyone has equal economic opportunities.
DeleteI agree Lilly when you say that we should focus on what is going on today. And it is true that we will be going to college soon, and paying too many loans will be hard for many. So I think that you are right when you say that the first article has more points on changing the world today rather than other things. I however do feel that the second article has some good points on competition helping people become successful. If it were not for competition, nobody would be better or more successful at things than others. So, there are both pros and cons for income inequality.
DeleteI agree with you Lilly, since student loans are what are going to affect us most soon and dealing with such high college loans and there will be a lot of difficulties in paying them. With the government handling these problems (i agree they were who caused the problem, they should fix them) college loans will be easier to pay and there will not be as much debt and not as much struggling. Even though I don't fully agree with having a equal nation you make very good points about why we should, which is why I am borderline on what we should have.
DeleteI agree with you, I also believe that the first article is far more correct. There is no way I will ever be able to see the other side of the argument with so many people in America suffering. We definitely need to fix things to better for the future and upcoming kids.
Delete1.The points that were made in opposition to income inequality were that the middle class is financially struggling while the upper class is becoming more prosperous. The article stated that the average income for a middle class citizen has significantly decreased since 1968, and household wealth has decreased 40% since 2007. Since the current unemployment situation is so abysmal, workers’ wages have depressed, which widens the gap between the middle and upper class. The middle class financially struggling is such a major dilemma because middle class citizens are most likely to spend their incomes instead of saving them, which promotes the growth of more jobs and businesses. On the positive side, Stiglitz mentioned in the video that people comprehend the issue of inequality and are determined to find a solution.
ReplyDeleteI do agree with Stiglitz’s assertion that it is harder for kids to rise above their parents to achieve “the American Dream” because the state of modern economy basically sets them up to fail. The only way to succeed today is to receive a respectable education and maintain a steady income. College tuition is high and if kids cannot pay off their debt, they will have a lot of resulting financial problems in their lives. This will significantly hinder their progress in living comfortably, as their parents were able to do when the debt was not as high.
I do believe that the income divide is a fair by-product of our economy because America is a capitalist country, which means that individuals are responsible for making their own living and profits based on what they chose to do. In a Communist country, there is no income divide because everyone makes the same living. However, in America, someone who goes to school to be a doctor has the chance of making a much higher income than someone who is a janitor. Also, companies who own businesses (usually upper class citizens) depend on middle-class people to buy their goods. There really is no way for the government to control our inequality without making some serious alterations to the way Americans earn their living.
2. The points that were made in the video and article were that inequality has economic benefits. Standards of living have increased over the last decade, although income has not. The upper class provides what the middle class needs and desires. To achieve income equality, the upper class has to suffer so that the middle class can thrive, which is unjust. The video stressed that people will be unequal no matter what, and the upper class gives the middle class an incentive to work hard. These documents have changed my opinion on income inequality. I agree that there is a problem with costly college tuition and the debt that it causes, but there was no substantial evidence that income inequality is what directly causes it. I do not think income inequality is the problem, because it has been around for hundreds of years. There are other larger problems that need attention, such as the debt our country is in and the unemployment situation.
I think you do have a good point. Since we live in a society that gives some people more money and that we allow it to happen, it would take a big change in how we think and live for the income divide to completely go away. However I think that it can get out of hand if the government doesn't control it, and that we should definitely monitor it every now and then so that our children do not face struggles because their parents could not make a lot of money.
DeleteI agree with your point that income inequality can not be completely responsible for problems with tuition fees but it is partially resonsible for why children not in the upper class have a harder time getting a good education. Right now the gap between the classes just seems too big for people not to worry about. When the upper class has an increase of 275 percent and the middle class only has an increase of 40 percent something is wrong. Whatever the issues are they need to be solved even if it is more than just income inequality
Delete1. The article and the video express concerns about how economic inequality is stunting economic growth and the hopes of an economic recovery in America. In America, the wealthy are becoming richer, the the average citizens or “middle-class” are suffering because of it. Communities have become segregated based on economic status, and they believe if these inequities are not addressed, America will be unable to recover from its current economic state.
ReplyDeleteI do agree with Stiglitz assertion that it is now much harder for kids to rise above their parents station in America, because these social inequalities are making the rich richer, and in turn hurting average Americans. They are making it hard to climb the economic and social ladders, as 2010 marked the first year that student-debt surpassed credit debt. If something is not done to fix these inequalities, then the middle class will continue to suffer, and the American dream of becoming “something from nothing” will be a rarity.
I do not believe that the income divide is a fair by-product of our economy, because it hurts more Americans than it helps. Our government should do more to control this inequality such as investing in education, and employing a progressive tax system in which those with a high-income are taxed more than those with a lower-income. This is essential, because we are now seeing citizens moving apart and creating new communities based on economic difference, as well as student-debt reaching an all-time high. These inequities create a weak middle-class, and the government should not allow this to happen, as they represent the majority of Americans and should focus on assisting these people.
2. The article and video support the idea that income inequality is the basis of America’s economy. They argue that inequalities will always exist, and the “one percent” earned their place in the economic ladder, and that people raise to different levels of success based on how “productive” a person is. They also argue that inequalities will encourage people to work harder and improve their situation. The video stresses that the lower-class is doing well, and that inequality is driven by envy, not need.
These documents do not change my opinion about income inequality, as they provide an excuse to let the average American suffer, while the rich succeed. While I believe that similar to democracy, the economy is something that you must “invest in to get anything out,” (meaning you must work hard to succeed), I disagree with the idea that inequalities were created due to envy and not need. Although the majority of the poor may have “luxury amenities,” everyone should be presented equal opportunities, and economic inequalities prevent this. In order to get a good job, and have your views heard, you need a proper education, and with the rising prices of college, this is difficult for the poor, and only benefits the rich. These documents provided no compelling cause as to why these inequalities exist, except for the idea that differences will always exist, and therefore, so too will inequalities. Evidently differences will exist, but fixing inequalities is not about making everyone equal, but filling the gap between the poor and the wealthy, so that there are equal opportunities, a chance that everyone can succeed, and that the “American dream” can thrive.
I agree Spencer, the government should be trying to fix inequality however, without inequality, America would have some communist attributes. Would you want to live in a communist-like country? With free-trade comes inequality. With anything in life there is positives and negatives. With the economy there are positives and negatives however they are not little. One positive or negative could change the world or the country for the next few years. In today's society, the world revolves around not the sun, but the economy. One other thing I would like to add is without inequality, the "American dream" is impossible. This is simply because in that dream, it says that if you work hard, you will become rich. Well, with equality, everybody would be working at different paces and yet they would still be paid the exact same.
DeleteSpencer I also agree with you and i feel that your last paragraph and feel it is worded very well i especially like how you said "These documents provided no compelling cause as to why these inequalities exist, except for the idea that differences will always exist, and therefore, so too will inequalities. Evidently differences will exist, but fixing inequalities is not about making everyone equal, but filling the gap between the poor and the wealthy, so that there are equal opportunities, a chance that everyone can succeed, and that the “American dream” can thrive". This was a very good way to conclude your response and i also agree that the article didnt really focus on why these inequalities happen, and i strongly agree that if we would just fill the gap between the poor and the wealthy so that everyone in america can thrive and our citizens can have equal opportunities.
DeleteBhumi Patel
ReplyDelete3-20-13
Block 1
Income Inequality in America
1. In both the video and the article, the main points that are being made in opposition to income inequality are that our middle class is too weak to support the consumer spending going on, it is harder for people to invest in their future, and the weakness of the middle class is holding back on taxes.
I agree with Stiglitz's assertion that it is now harder for kids to rise above their parents’ station in America (the American Dream) because colleges are very expensive nowadays and hard to afford. Many people have to consider going to college, even if they really want to, because it is a very big decision and can take many many years to pay off.
I believe that the income divide is a fair byproduct of our economy because people should be able to control those things since it has to do with themselves. But, however, I also think that the government should control that because since they have more power, they can help stop inequality quicker than citizens can, and that can help the economy. The article says how many think that by getting involved in helping inequality will just make it worse, so there is a positive and negative side for the citizens to get involved in this.
2. The main points being made in support of income inequality in both the article and the video are that it is good because it promotes competition, making some more successful than others, people can be proud of their success, and is has many economic benefits.
Yes; these opinions do change my opinion about income inequality more because it is true that competition increases success for some. If there was no competition, nobody would want to gain more than others and people would not really become successful. However, I also believe that income inequality is not good because it does have its pros and cons. It is unfair to many expect for the rich because they have more money unlike others and they keep gaining it, but it can be fair too.
I do agree with you that income inequality can be a good or bad thing and that without it people would have no competition and people would not be successful. I think income equality is like you said fair but unfair.
Delete1)
ReplyDeleteA. The main points in opposition of income inequality, in generalized terms are that the rich and poor are getting further divided which splits our culture apart, the differences becoming too great for the different classes to be able to relate and cooperate; that the poor cannot pay debts made to help bridge this gap because they already lost most of their money to begin with and cannot find jobs to hire them; and that this gap is hurting the middle class because the wealthy are keeping their money while the poor keep losing it.
B. I agree with Stiglitz in that it is getting harder for kids to rise above their parent’s situation in the future. Nothing about student debt is getting done in America. The efforts by the government to get rid of them are not working because the government has long put a focus on keeping the more fortunate wealthy, instead of lifting the bottom of our social pyramid upwards, thus also helping the more fortunate in life. An analogy to explain this is that no matter how much we paint over the walls of our house (the economy), if our foundation is not strong enough none of it will help and the house will continue to crumble.
C. While I do think that income inequality can be a byproduct of Capitalism, I also think that because of this the government has a responsibility to keep it in check so it does not get out of hand. Because we live in an economy based on supply and demand it is inevitable that some people will use more of the supplies and wealth than others. In other economies this simply would not happen. We would all be the same with no hope of rising up. However, since our economy works like this, we need to balance it out to make things fair. If we allow the wealthy to use up all of the supplies and money, none will be left for the middle and lower class, making it impossible for them to get any more and making the Capitalist system pointless.
2.
A. The second article and video supports Income Inequality because total income equality would force the wealthy to give up what they have and be forced to live like the less wealthy in America; that statistics do not necessarily correlate to what many politicians suggest about inequality, being far less intense as they say; and that the US Economy depends on it, with the lower classes working for the upper class so they can become richer themselves.
B. The arguments made in the second article do not change my opinion on Income Equality. Most of them seem based mostly on fear of the wealthy losing their income, but this kind of logic does not make what people are doing fair. The main proponents for slavery were the people that used slaves to profit on them, who feared that Unionists would threaten their wealth. Does this make slavery okay, simply because their masters benefit from it? No, and neither does hoarding money just because it helps the rich live a lavish lifestyle while the poor just get poorer. The video claims that the poor seem to “envy” the more fortunate and that they should just be happy for their wealth instead of being upset that they do not have much of it. This retort is simply false. It is not envy to want to live without relying on food stamps and welfare as a source of income, it is just common sense. I think that the fortuneless do not necessarily want to live a life of excess, and that they just want to have enough to provide for their families. Denying them this is, in my opinion, a gross injustice.
i agree that the government is responsible for inequality as a by-product as it is not all the same circumstance
Delete1. The main points made in opposition of income inequality are having all the same class grouped together in a town, neighborhood etc, with not having different classes to live around you. With not having different income classes around you; you can't relate to someone who has a lower or higher income than you. Student are now divided into different schooling because of income and neighborhoods, not making everyone equal and and be able to know what other people go through and cooperate with them. The middle class people are getting hurt form this because the rich are saving the money and only getting richer while the poor are just loosing their money and becoming worse off. I think its much harder for kids to rise above their parents in the future. As I said the average Americans are the ones getting hurt. The student debt in 2010 just rised above credit debt. Americas future for the kids are going to be much harder to become more successful and rise above where we are at now since everything is still going down hill. I think government should be the ones to take hole of the inequality. They were the ones to create so they should be the ones to destroy it. We should start by getting rid of all the student debt, credit debt, and stop having the middle class struggle. Fixing what we have done to our country will take many years but overtime with doing all the right things and stopping spending money for worthless things we should be able to get America where we want it to be.
ReplyDelete2. Some main points in the article consisted of that the inequality in America is good to have because there are many economic benefits to it as well; it can create a "well-functioning economy". Another point argued was that there should be inequality here in America because it can "improve their situation through work" and can "acquiring new skills". I never had a real opinion on inequality because i never really thought about it. But reading these articles and videos made me like having an inequality type on nation instead. It can make you work harder, learn more and have different skills.I think overall be better than having equality.
1)
ReplyDeleteA. Some main points made in opposition of income equality are to rebuild the economy from the bottom up. The economy is majorly effecting people right now and if we rebuild it can help people get out of debt and have more money. Also the middle class is weak right now and loosing money while the upper class is gaining money. If we can equal that out then more people can succeed.
B. I do agree with Stiglitz's assertion that it is harder for kids to rise above their parents because it is harder to go to college these days because the expenses for college cost a lot and not a lot of people have that money. Also it is hard to become wealthier unless you are in the upper class because the middle class is earning less money.
C. believe that the income divide is a fair by-product of our economy. I believe this because people should e able to provide for themselves and not depend on the government to bail them out. Also America is a capitalist country so we get to choose what we want to spend our money on.
2)
A. There are some main points that are made in support income equity. One main point is that inequity drives the poor to become richer and helps power them to make money. Also that inequity is driven by jealousy or need.
B. These articles do not change my. I feel this way because you should get money based on how well you do your job not by having the government give you money. However I don't like how college expenses have raised because I plan on going to college and don't want it to cost a lot.
I agree that money should be based off of how well you do your job and not be having to give the government your money because people deserve to keep the money they worked for. I also agree on your opinion about how you do not like that college expenses have raised because I do not think it is fair to have to pay so much money for education.
DeleteI agree with you when you say America is a capitalist country and we get choose what we spend our money on. I think this is a great way to explain how the government should not have to worry about the people considering we are the ones spending the money. I do think that some people should be allowed to go to the government if they need help with money.
DeleteNick Chaves
DeleteI agree with you Luke I don't think the government should be giving people money. I also have a plan to go to college and I too do not like the idea on how college expenses are going up. If people expect America to be successful in the future then they better lower college expenses. This would make it easier for people to get better jobs and better pay and overall make a better economy.
ReplyDelete1) The main points made in both the Article and video about opposition to income inequality is that with the middle class can not support everyone else. Also, that America, as an advanced country has the most inequality of income and wealth with almost 1/5 of children living in poverty. The article and the video both mention that young people are affected by this because to go to collage they have to get a loan and while the rich can pay these loans everyone else struggles to do so. The article also says that with inequality being so high it becomes harder to fulfill the American dream.
-I do agree with Stiglitz’s assertion that it is harder for kids to rise above their parents station in America because if the parents can not support their children to get them higher in life they will not be able to advance. As collage tuition rises, people in the middle class find it harder to get their children the education they need. As prices increase children will need to be more successful than their parents to live comfortably in the modern world. They need their parents support though to do this and if the parents can not pay then the children can not succeed
-I do not believe inequality is a by-product for our economy. I think the government should do more to control the inequality such as making it easier for people to get good educations and really focusing on creating a strong middle class. If the government focuses on stopping inequality I think it could defiantly be improved.
2) The main points made in both the video and the article is that inequality is a part of American life. They both say that the U.S needs inequality to function and that not everyone is equal and they shouldn't have to be.
-These documents do change my opinions about income equality because without it people would not want to work as hard and would expect things to be handed to them. I still think that is the younger generation is going to succeed they need help in getting an education. But not everything needs to be equal to have a successful economy.
Hannah, I agree with what you said about how children are not going to rise above their parents. I forgot to write of how it is harder for parents to support their children as they go through college. It is necessary that children have financial support from people other then themselve. Tuition IS growing very rapidly, so it will be more challenging for children to do as well, if not better, then their parents.
DeleteI agree with your opinion that people will not work as hard if things are handed to them in life. Also, agreeing with both you and Jen, children will most likely not rise above their parents because of the cost of tuition. But for the people who do want to succeed in life and put in the effort, I find it important for people to receive help if wanted, and if they will try their best after receiving said help.
DeleteJen Kallin
ReplyDelete1A. The main points made in opposition of inequality in both the article and the video is that in today's economy, almost all children will never be as financially successful as their parents. The middle class is not making enough money. Inequality is spreading through communities now, too, because less and less amounts of wealthy people are living side by side with the less fortunate. The inequality is actually causing more problems, since people have to actually do more to sustain the inequality. There are many childrenin poverty, nearly 20%, and tuition for college has reached crazy high numbers in debt.
1B. I definetely agree that children will not be as likely to rise up above their parents' station in America because everything is much more expensive. Being accepted into a really good college requires a ton of money, and after graduation, they are left with mountains of debt that likely cannot be paid off because the odds are that after graduation, finding a job for their major is still more difficult. With more and more people coming into the country, less and less job opportunities are available, to everyone. Finding work is a growing struggle, and the chances of the situation improving are slim.
1C. I believe that the income divide is a fair by product of this country. No matter what, no one is ever going to all make the same amount of money. It is impossible. The government should make more of an effort to improve the inequality between citizens so that it can make living easier. The middle class is a good chunk of the American society's make up, so to reinforce their financial situation can make a really progressive economy. More jobs need to be creatd so that the less fortunate can have an opportunity to make money, and be able to support themselves in this country.
2A.The main points made about support of the income inequality are that having different incomes between people is not just a component to the economy, it is a necessity. Having people who are wealthier than the less fortunate is a positive sign of our economy improving. Having people who are rich make other people want to rise up and do what they can to their fullest potential, which can give everyone hope. If everyone thinks they can do well, all will attempt to do as best as they can. There is always going to have to be people who do better in society than others. It is impossible for everyone to be equal.
2B. These documents kind of change my opinion about inequality. If no one is wealthier than their neighbor, then money will have no value. No one would gain wealth, no one would lose, but people want to gain wealth, so equality would just make everyone unhappy. I think their should be attempts to make sure that at least everyone has a better chance. I also know that the "poor" people here have working appliances and other necessities that anyone in another country would die for, so even less fortunate people do not have it as hard. Not all, but some.
I agree with you when you were talking about the debt left over after graduating college. I think that is one of the major problems that can discourage kids from going to college, not only that but it changes there whole life after. That impacts others as well. Also as time goes by the debt gets bigger and like you said, if you don't have a job paying the debt can be very difficult and the situation gets worse. As future leaders in the world we need to face and deal with these problems now so they don't cause chaos in the future.
Delete
ReplyDelete1A. The main points made in opposition to income inequality in both the video and the article is that the rich is become richer, poor become poorer and the middle class is struggling. Our communities all over the world are no longer living "side by side" they do not have the same understanding that they used to. The rich are able to afford their children to have a better life then they did because they have the money to support them through college and do not have deal with student loans like the lower classes do. When taking out loans, that accumulates student depth, now at an all time high of $1 trillion that only contributes to youth unemployment rising to twice the national average. The wealthy have opportunities to have a successful life because the wealth they had been receiving has doubled in the past few years, only further creating this gap between the higher and the lower classes and causing more inequality through income and wealth.
B. I do agree with Stiglitz's assertion that it is now much harder for kids to rise above their parents station in America because of college prices. Parents are unable to afford college for their children which limits a child's options to how successful their lives can be. The "American Dream" is no longer a principle because hard work can no longer "make it" in our country. The nations young unemployment rate is doubling because of student debt. Students have very little options after accumulating debt because they have to pay it off for the rest of their lives even if the school fails to find them a job or if they wish to change schools. With college prices continuing to rise and the nations young with limited options can only result in more debt and a higher rate of unemployment. The government should no longer stand by and continue to watch as children cannot reach their full potential.
C. I believe our government should do more to control inequality because so far they have only made it worse. Instead of pouring money into the banks the economy needs to be rebuilt from the bottom up because it will only get worse as time goes on. Also to pay more attention to education for future generations and to tax the wealthy more and the poor less to balance out our economic system. It is up to our nations leaders to make policies that address these issues and rebuild our nation to become fair and equal for all once again.
2A. The main points that are made in support of income inequality in both the article and video is that income inequality is not such a bad thing after all and that Americas economy "functions on the basis of it". That the rich are become richer but the poor are becoming richer. That over half of poor households have a washer and dryer and necessities they need to survive off of. Also that income inequality is needed for people to be driven and motivated to want to work hard and to want to be like the millionairess of the world. Our economy needs inequality to have our economy function because it does determine people to work hard and they should be keeping the money they are making because it is only fair since they worked hard for it. That this idea of "equality" is "evil" as they called this in the video because all people are different. That everyone can not be the smartest person in the world or the most talented because in order for our economy to function someone has to be on top.
B. This document and video do not change my mind on income inequality because people all over the world are still suffering trying to make ends meet for their children and themselves to be successful. I do not believe inequality helps our nation function because the wealthy are receiving most of the money while the lower classes suffer for it. I believe that people should be able to determine their future and where they want to go to college not depending on the price.
Juliana, I agree with your statement that people have very little options on what they chose to do in their life after they have accumulated significant college debt. I think that economic inequality is essential to our economy, as you stated. I also partially agree with your statement about how our economy needs to be rebuilt; while this is true, I do not think inequality is the sole reason for all our financial problems. I think other problems, such as war debt, student loan debt, and the unemployment rates contribute to why America is no longer thriving as well.
ReplyDelete1.
ReplyDeleteA) The main points that are made in opposition to income inequality in both the article and video are that the wealthy and the poor are becoming very distant from each other. The average people in America or the Middle Class are losing money while the wealthy American citizens are gaining money. If the economy rebuilds then the middle class can become stronger since they're really weak right now. Also rebuilding would make the gap between the wealthy and poor decrease because the poor would be able to save and have money.
B)I agree with Stiglitz's assertion that it is harder for kids to rise above their parents and achieve the "American Dream". I agree because colleges are way to expensive and when loans are taken out by students who cannot afford to further their educations will cause them to be living in debt. Nothing is being done to help people that cannot pay off their debts.
C)I agree that the income divide is a fair by-product of our economy because everyone should be able to do what they want with their money and should be able to keep the government out of their spending. I also think that the government should be able to help out people if they need it, because the government has the power to change things faster than the people can.
2.
A) The main points that are in support of income inequality are that the inequality is a good thing for our country to have. When having this inequality it makes everyone gain wealth and allows them to be more successful.
B)The documents did not change the way I feel because I think you should be getting money for the job that you work. I don't think the government should give you money because it could not be the same amount as what you would make at your job. I don't like how the prices have gone up for colleges because they will continue to go up which means I will have to pay a lot more loans.
1A) The main points suggested about fighting economic adversity in both the article and the video were to strengthen the middle class. This is the most important point because the middle class makes up most of our country and they are the backbone of our economy. The middle class has only got weaker and in order to sustain a more intact middle class we as a country have to invest in education so everybody has an opportunity to get good jobs without student loans that they have for their entire life. Also it says that we must get a better tax regiment so our middle class doesn't suffer as much at tax time.
ReplyDelete1B) Yes I believe it is much harder for children to have a better life than their parents simply because of economics. In the past few years the middle class where the majority of our youth is, has been getting much weaker financially. As their getting weaker the tuition rates for colleges has only sky rocketed. This makes it much harder for kids to get into school and get a good education without having to have a bill over their heads for the rest of their lives. This means there is a smaller chance that our youth will ever do better than their parents.
1C) I believe that with the economy we have there will always be an economic divide because we have an open market and we are not communists so we will make different amounts of money but what has come of our nation recently because of the abuse of this right is unacceptable. We as a people can not fix this crisis on our own and we need government restrictions such as tax increases on the people that it won't hurt and tax reductions on the ones who are struggling. By doing this the rich will remain rich and the middle class will remain in the middle but we as a people will be much better off finically.
2A) The main points made in the article and the video say that inequality is a good thing for our country. They argue is a sign of a healthy capitalist country and that we should strive for more inequality. They also say that the rich really aren't gaining all that much money and the poor are still well off even though they make little money. They basically say that the richer should get richer and the poor will be fine by themselves because they have a t.v. and a washing machine.
2B) These do not change my opinion at all because all they are saying is that rich people should gain more money and get much more wealthy while the lower classes can just fend for themselves which in my opinion will only increase economic adversity. Like I said before, though, there will always be rich and poor people but I don't see the reason in making the rich richer, what is it they are going to do with all the extra money because its not going to create more jobs its most likely going to get hoarded in an off-shore bank account. By expanding this gap you are not helping the majority of the American people you are helping the rich 2% get even richer.
I completely agree with you that it is much harder for children to have a harder time fulfilling the "American Dream" because of tuition fees for colleges. If the cost was not so great people would want to send their kids to college and the kids themselves would also be inspired.
DeleteI also agree that due to capitalism an economic divide will always be present since that is just the econ my America has. However like you said the government should try and help out but not to much since the people can't be stripped of any rights.
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ReplyDelete1) After reading the article it is obvious that our countries income inequality is holding us back and stopping the middle class from expanding. Some of the main points made in the article suggests that the middle class keeps continuing to get poor while the upper class continues to become richer. This is because the middle class is too weak to support the consumer spending so they are losing money, the middle class is also holding back tax recipts, and if we are unable to recover from this economic crisis than it will always be like this.
ReplyDeleteI agree with Stiglitz's assertion that it is now much harder for kids to rise above their parents' station in America because school now a days is so expensive that most children can't even afford to go to school especially in this economy. it is even more hard for kids to get an education and amount to the same level as their parents because the middle class is getting poorer but the prices for college are still rising. Also the government could have worked to ensure that young people got jobs and education but instead they left it up to them which atrophied or in another sense wasted away or destroyed their skills.
I do agree that this is a fair by product of our economy we caused these problems and they need to be fixed by investing more money in things that would overall benefit the economy like education and making jobs and we should balance our economy by making the upper class pay more taxes than the lower class.
2) The second article and video states the the inequality is good in our economy they say that the inequality will hopefully get the people on the lower end to try to rise up and try to become as wealthy as the upper 1 percent. they argue that the inequality means our country is in good shape and that they want there to be competition between the upper and lower class.
After reading each article and watching both videos and hearing what both sides think i believe that the opinions in the first article are right that this inequality is not a good this and needs to be fixed. I dont agree with the second articles opinions at all they think the inequality is a good thing and will help our economy but we need to help the middle class instead of helping the upper class that already has everything figured out. i think we need to focus more on the middle class who is strugling by using all that left over money to invest things to help our economy.
I agree with what you have to say about how income inequality is holding us back. I absolutly agree with how the middle class is to weak to support themself and they are going to continue losing money. I also agree with what you had to say about it being fair. We did cause these problems.
Delete1
ReplyDeleteA) There are several main points made in opposition to income inequality in both the video and the article. One is that the rich and poor are becoming more and more divided the different classes to not be able to relate and cooperate to help make the economy thrive. The poor cannot pay back their debts made because they already lost their money there are no jobs for them to regain their wealth. The middle class is also paying a huge toll due to this bad economy, people are not making enough money to remain a good life and over the years the middle class has just been significantly losing money. Another main point of this article is that the kids are having the biggest impact since they are not being provided with the money or education they need to thrive.
B) Yes I believe it is harder for children to rise above their parents' station in America (the American Dream) because of the bad economy and the way they are raised and taught. Kids are not getting the education they need in school and out. Some kids especially poor and middle class do not try very hard in school and don’t care what happens because they don’t realize how important school really is. This is not only because of the schools not inspiring them but people on the home front who don’t care and let their kids do whatever they want. Kids also don’t all believe that college is necessary or they just don’t have the money for it, if a child’s parents did not go to college they would most likely not be pushed to go either. The tuition rates for colleges has had a major increase making lots of kids not go to college because they know they do not have the money to pay for it. This means there is a smaller chance that our youth will ever do better than their parents due to lack of money and motivation.
C) I believe that with the economy we have there will always be an economic divide because we are a capitalist country so we will make different amounts of money. We as a people cannot fix this crisis on our own and we need government restrictions such as tax increases and tax reductions to try and even out the economy. However the government should not completely try to control everything since we do not want to turn communist or have the people lose their rights. This will cause the rich to remain rich and the middle class to stay in the middle; however we as a country will a lot better economy. Finally people who go to college to be a doctor or a lawyer will make a significant amount more in their salary then those who are waiters or dishwashers. It’s just the way are economy is and it will always be this way as long as we remain a capitalist country.
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A) The main point made in the article and the video is that inequality is a good thing for our country since it helps us grow as a whole. They say inequality isn't a complication due to capitalism but rather an expected and wanted outcome. It’s also said that the rich are not making as much money as people think and that in fact the poor have been doing phenomenal and most of the lower class in America have more than the basic needs. They also say that the poor should not be mad that there are rich people in America but rather celebrate it. Overall they say that the richer should prosper and the poor are not all as bad as they think they are.
B) These do not change my opinion at all because all since they are just saying rich will get richer and poor will to which is what I believe as well. It just repeats that the government should help a little but it is not a horrible thing to have income inequality. As long as there is capitalism there will be income inequality, it’s a way of life. Income inequality causes people to seek a better life and work harder to become rich, causing a country with hardworking men and women and people joining every day in hope to become rich as well. The United States should always be capitalist and inspire their citizens and others to work for a better life for them and their kids to come.
Kaylie Blais
ReplyDelete1.)
-Both the article and the video talked about strenghtening the middle class because the one percent at the top who make the most money have increased while the middle's classes wealth is decreasing. They both also talk about how those people who come to America are looking for the American Dream and in reality we may no longer be able to provide that promise. To help us both the article and the video think we should start with those in the middle class by helping them with home ownership for when they owe a debt that is worth more than the house itself is. Basically helping those that are "under water".
- Yes, because in order for children to rise above their parents it often involves getting a better education than what their parents had and due to the economy kids have a hard time affording schools that could help them achieve their goal. Student loans are very expensive to pay off and it you are cheated of your education you still have to pay them back. Student loans are actually out ranking credit card debt showing how hard it is for children to go to school and recieve a good education.
- I think the government should start trying to fix the problem of inequality. The middle and lower class are not able to recieve the same privledges as the upper class because they cost too much. The middle and lower class are often paying student loans for most of their life and if the student dies the loan goes to the parents. Also adutls are stuck paying home ownership and often times the house is not worth the amount they are paying. America is the second worst of the advanced countries with poverty sticken children.Inequality is almost as bad as it was during the depression. The government should fix this problem before it happens again.
2.)
- Both the article and the video state that income inequality is needed to encourage people to do better. It's the "incentive people need to try harder to increase their situations". Also both the article and the video state that high inequality is a welcome outcome and the only time people should start to worry is when the middle class has been eliminated. High inequality means that those people that have more valuable skills and a higher education are being paid the money they deserve. Which means that those in the middle and lower class are also being paid what they deserve.
- The video and article do change my opinion slightly. I agree that there should be an income inequality among the upper, middle and lower class but the income inequality we have right now is to high. The article stated that between 1979 and 2007 the 1% of households saw their incomes grow by 275%. The middle class saw increase in their incomes of close to 40% and the lower class saw increase in their incomes of around 20%. The gap between the classes are too big. The 1% of households either need to lower their income of the middle and lower class need to have an increase in their income. One of these options needs to happen in order for the American Dream to be plausible again and for us to have the possiblity of children surpassing the parents once again.
Nick Chaves
ReplyDelete1. There are many different points made in the video and article about opposition to income equality. young don’t have good opportunities. Like in the article, Joseph E. Stiglitz says that our student debt is at 1 trillion dollars and has exceed credit card debt. Students are the future of America and they won’t be able to pay taxes or live up to the American Dream if they are in debt which is a really big problem. Another big point made in the article and video is how America is no longer the best place to look for a bright future to a better life. Joseph E. Stiglitz states that, “children in other rich countries like Canada, France, Germany and Sweden have a better chance of doing better than their parents did than American kids have.” Not only this but America has a really high unemployment rate which is at “7.8%.” and “The dream of a better life that attracted immigrants to our shores is being crushed by an ever-widening chasm of income and wealth.” Until America again is “the dream of a better life”, America won’t be able to fix its economy.
Yes I do agree that it is much harder for kids to rise above there parent’s station in America. This is because how hard it is to get a education in the United States. To get a good education it requires a tremendous amount of money and a lot of people don’t have the money to get a good education. Without a good education it is almost impossible to get a good job that gives a good salary. Not only is getting a good education harder to get but also globalization and technology is also a problem. A lot of companies are leaving America and going to other countries like China or India because it is cheaper to run a company there. This makes it harder to find a job in America. Technology is also another problem. While Technology may make things easier and make things cheaper for companies, technology takes people’s jobs. The way technology is today it is clearly being more and more relied on which makes it harder for people to find jobs. Technology is only getting better and the better it gets the more jobs it will take making it harder for children to rise above there parent’s station.
I believe the government is doing enough to control inequality, it is just that the government is doing the wrong things to control inequality. For example the government bailed out the banks but it didn’t really help control inequality. I agree with Joseph E. Stiglitz, “We could have tried rebuilding the economy from the bottom up.” This is what the government should done to control inequality. It would have bailed out homeowners who are in debt, and homeowners owing debt to banks is a big reason why we have weak middle class. If we had bailed out the homeowners in debt it would have created a stronger middle class which would help control inequality. It is not to late, the government could still some how try to do this. Another thing the government should be doing to control inequality is by helping our young. The government should try to find a way to make sure that the young people of America are in school or on a job. The young people of America not being able to go to school because they can’t afford it is a big reason why America has inequality. In conclusion, the government needs to help the young more and start to help or bailout homeowners who are in debt. I think this will help control inequality.
Nick Chaves
ReplyDelete2. The article and video made some pretty good points about inequality being a good thing. Some of the key points that were made was how inequality is a normal thing to have in a capitalist economy. As Rick Santorum said “people rise to different levels of success based on what they contribute to society and to the marketplace.” This is very true especially in capitalist market, some people will achieve more then others and will be more successful in life. Everyone is different, no person is the same and that is just they way life is. Another key point made in the video and article was how that inequality isn’t so bad. Like the rich live a really rich life style and the poor live a really poor life style. However the poor’s life style isn’t so bad, they get all the basic needs of life, and they have tvs. According to the video, people who are poor today live a better life then rich people did 100 years ago. The rich people 100 years ago lived a good life and wouldn’t be a bad way to live even in this day in age. This means that the poor life style today isn’t so bad which means inequality isn’t hurting our economy as we may think.
The article and video does not change my opinion at all. I believe that even though the poor style of life isn’t so bad, they still don’t have the money the rich have to pay for a education! Getting a education is really important and it is almost impossible to get a good job without a education. Without a good job you will most likely have finical issues and owe debt to the bank which is a bad thing! As long as inequality still exists I think that every poor American citizen doesn’t have the same opportunities as rich American citizens do which I find unfair.
(I forgot to add the second part in my last comment)
1.)
ReplyDelete•
Some of the main points that are made in opposition to income inequality in the article and in the video is that the middle class is just getting weaker. But the upper class is getting richer. The middle class is continuing to lose money but the upper class is getting more money which is causing the two classes to get separated even further. Students who go to college struggle even more. By time they leave college they have a loan that they can’t really pay off. So while they are trying to pay that they might start to struggle. They are trying to rebuild the economy so that the middle class can get stronger.
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I agree with Stiglitz it is harder for kids to rise above their parents. Now it is harder because the middle class is just getting weaker and that is where the majority of the people will be. Also any person who wants to better their education would go to college. But once they leave college they have a loan hanging over their head for the rest of their lives. Also the cost is just getting higher but the government is trying to lower the cost
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I believe the income divide is fair by product of our economy because in America people have the responsibility to care for himself and make their own decisions. Nobody is ever going to make the same amount of money thats not really possible in a capitalist country. I think government should help. I think they should help with creating new jobs and trying to help with lower cost for some colleges.
2.)
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The main points of blog and video that support income inequalities is that people work for the economic class that they deserved. They argued that there will always be the one percent that is at the bottom but they worked for that. They also say that it makes the people in the lower classes work harder. If they were just handed the middle class or upper class they would never have to do work to keep their position.
•These documents changed my mind about income inequalities. They do make some good points like without fighting for you your money and trying to be successful nobody would work hard. When things just get handed to you, you don’t have to work hard. Without competition we wouldn’t hard working determined people. So overall I think income inequalities are good because without them nobody would have the thrive to succeed.
I agree with you that everyone wants to go to college but cant. Loans in the end of your college years are stuck with you for a very long time and people do work for months even years trying to pay their loans off.
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ReplyDelete1. -Some of the main points made about inequality are that the middle class is only becoming weaker while the upper class is growing stronger. The upper class is making most of the profit but not redistributing their wealth and using it stimulate the economy. With workers’ wages decreasing it only broadens the gap between them. The upper class also tends to outsources work to third world countries for cheaper labor costs which gets rid of jobs for people in the other classes.
ReplyDelete-I do agree with Stiglitz's assertion that it is now much harder for kids to rise above their parents' station in America. I agree with this because the cost of higher education can stop some from ever going on to reach their potential. If your parents do something that is not a high paying job than how can they afford to go to school for something that exceeds their price range.
-I believe that it is not a fair by-product of our economy when the gap is so large because our economy is supposed to support itself with the different classes. The government should defiantly do something to take care of this divide because it is only a down spiral that won’t stop unless something is done to stop it.
2. –Some of the main points are that Income equality can help the economy by giving people an incentive to better themselves. If it is bad enough for someone then it will give them motivation to improve their situation. It will allow people to focus on their problems and solve them. This idea is supposed be for the benefit of the economy. The events are supposed to give you clarity of mind and allow you to focus.
-After all of this my opinion has not been changed. The cons far outweigh the pros so it is not enough to sway my choice. The fact is that for now the things that can be done aren’t and they should be. Until they are being done I can’t change my original opinion. There just isn’t enough for me to use on my basis of the topic.
I think that the government should not try to do anything about inequality. Americans should not need government to do everything for them. They need to step up to the plate and work hard to get out of the hole they are in no matter how deep it is. I believe we are completly capable in handling the situation ourselves as long as we try to do our best
DeleteThalita Campelo
ReplyDelete1.
- The main points that are made in opposition to income inequality in both the article and the video is having to do with economic inequality. The main concern is that the rich are getting rich and the poor and middle class are basically becoming less capable of keeping up causing them to separate from each other in every way. The people in the U.S now such as the future generations are beginning to live economically separated from each other.
- I do agree with Stiglitz’s assertion that it is much harder for kids to rise above their parent’s station in America. It is becoming harder and harder everyday to go from being below or in the middle class to becoming the upper class. College for example is showing how hard it is for the middle class to live without problems now a days. The pricing for college tuitions are extremely high these days and this creates a very low chance of a middle classed or low classed kid going to college in the future. Living a successful life is becoming more and more difficult for those having economical problems.
- I believe that the income divide is a fair by-product of our economy. I do agree that the government should do more to help control this situation but even when they do begin to control it, it will never be completely resolved. All the people will never be able to be either all rich or all poor. The government can though, help those who suffer from this which is mostly the people who have less money and can not afford certain things such as college.
2.
- The main points that are made in support of income inequality in both the article and the video is that this topic of inequality has existed for a while and that it is normal and supposed to happen. This idea is given a bad name and never viewed in a positive manner by the people but in this video and article, it is argued as necessary for our country. For example, the economic diversity between the rich and poor can do nothing but motivate the poor to want to become.
- These documents did not change my opinion. Although some good points were brought up, I felt that most things concluded to making the rich richer. If this were to happen, it would solve the problem of the poor because in reality, how hard would it to make the poor rich?
I disagree with your conclusion about making the poor rich because they would need to work for what they are gaining. It would make people angry to just hand the poor money if they did not rightfully earn it. Also, the country does not have the money to pay for every poor citizen to become rich.
DeleteI agree with the fact that the government can help the poor get back on their feet and have a steady income to provide for their family. Along with the economy can't all be either rich or poor.
DeleteIncome Inequality in America
ReplyDelete1)
- The main points in the video and article that were made about inequality are that the middle class is struggling with keeping up with the economy, while the upper class keeps gaining more money. The middle class is doing nothing to invest in their future, so it affects the community's economy negatively. There seem to be too many upper class citizens gaining money, rather than having the wealth be distributed among other citizens who are not as successful.
- I do agree with Stiglitz when he states that it is now harder for children to rise up above their parents. Children can only excel to as far as they are able to. Without resources that some parents cannot afford, the children may not be as apt to putting the effort and strength into striving. They would need to work much harder and longer than those who were born into a family with money. Children see how their parents work and do not completely live up to their potential because they believe that is all they can achieve.
- I believe that the government should step in to control the inequality because the inequality has gotten so out of control. The numbers of those failing has increased in the past years by so much, while others are living their lives without worries. Our nations knowledge and education would decrease because of the amount of students unable to afford the cost of going to school. There are too many consequences for the inequality in America for the government to sit back without trying control it.
2)
- The main point in both the article and video is that income inequality is needed and in some situations desired for having an efficient economy. Unlike the other article and video, these explain how some gaps have shrunk rather than gotten much bigger. It explains how no matter what there will always be income equality and how people are different and have different skills so therefore should not be compared by their incomes. The only way for upper class' success to become a problem is if the middle class is eliminated in the process.
- These documents have changed my opinion about income inequality. I now realize that without income inequality, people working different jobs may not earn what they are working for or gain the money that they do not deserve. I do believe, though, that the government should try to control the inequality at least a little bit because of how much the middle class is decreasing. Overall, income inequality is a significant part of keeping an efficient economy.
I agree that income inequality is a vital part of our type of economy, and i also agree that the government should do something to regulate inequality, however when the government starts doing that many people would start screaming "COMMUNISM" so unfortunately i doubt that we will see a change for a long time.
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ReplyDeleteSome main points that are made in opposition to income inequality in both the video and the article are about the economic impacts on US citizens. The sources mention how the rich are becoming even more wealthy and the middle class is absolutely being dramatically impact. It is almost as if there is no middle class and there is only an upper class and a lower class. If these inequalities between the “classes” are not resolved then America’s economic state may be eventually destroyed or possibly not even close to being resolved.
ReplyDeleteI agree with Stiglitz's assertion that it is now much harder for kids to rise above their parents' station in America because of these inequalities. Stiglitz mentions how the middle class is being impacted the most and their incomes are constantly decreasing. He also makes a good point how a decade and a half ago they were much better off than they are now. So based off of that, it is most likely that this decline is going to continue to decrease as time goes on and it will be nearly impossible for children to be more successful than their parents.
Although these inequalities are hurting our community, I believe that the income divide is a fair by-product of our economy because we should not need the governments help in order to restore our status. Part of the “American dream” is to do things on your own. With the government holding our hands in every situation does not allow us to figure out our own lives ourselves and makes our lives way too easy. Back in the day everyone had to work hard to get things done but now everything can happen with a phone call and the results are not what is wanted.
Some main points that are made in support of income inequality in both the article and video are about the taxes and statistics. This income inequality is based off of how much money people make before taxes, but after taxes the margin is greatly decreased. The amount is no longer as dramatic as it seems and makes inequality not as bad as the government depicts it. Many statistics show that the poor is not all that poor. Most have cable and 20% also have 6 bedroom houses. So even as this inequality is being represented, not many citizens in the US are really suffering and most are actually living their lives quite happily.
After reading this article and watching this video, I am leaning more towards that inequality is not as bad as it seems. All of the statistics on how the “poor” has all the things they need and also how as time goes on the poor is constantly becoming less-poor, inequality is almost a good thing. It also creates competition and helps americans to strive to work harder. When more people work harder then they will create themselves higher incomes and easier lives.
About your last comment on the first section:
DeleteYes, I agree with you that the Government shouldn't hold the people's hand, but should they help them a little? Of course. People don't decide to tax themseles; the Government does that. It's up to the Government to lower taxes on the middle-class, not the people, necessarily. Isn't part of the problem the politics?c
Megan Sodano
ReplyDelete1)
A. Throughout both reading the article and watching the video about Income Inequality some of the main points were how to middle class are struggling and are too weak in the current economic conditions. The middle class couldn't educate themselves well enough to become involved in business. The middle class is also holding back tax receipts and the last time inequality was high in the economy the great crash and depression.
B. I do agree with Stiglitz on how it is harder to rise above their parents and get a good education with the way the economy is. It is hard to rise above your parents when you don’t have the money or the ability to go to college and get a proper education because you have no were to fall back on if you are in debt. For upper class everything is made simple and easy but not so much now a days from middle class.
C. Support your answer with detailed evidence. I don’t think the income divide is fair because some who earn millions of dollars doesn't mean they are doing everything to deserve it. While other are working hard to earn the bare minimum and end up in debt and having to provide little for a family. I think the government needs to help keep inequality under control, but just enough to keep people from below repair.
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Some of the main points in both the video and the article are that America will never be completely equal. Some people are better in business that others or some are better with money. People can try to make income equal but it doesn't mean that everyone deserves the amount they would receive weather it is less or more. These documents don’t really change my mind and I still think that income equality is no fair and needs to be fixed. Some people are earning tons of money and are not physically working as hard as people who only earn minimum amount. If the economy becomes equal things still may not be fair.
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ReplyDeletea) The main points that are made in opposition to income inequality in both the video and the article are how inequality has made the middle class become worse as the wealthier become richer. Another point made is that we should have payed more attention to the youth, giving them more opportunities to succeed because they are the future. Without this, there will only be inequality in the up and coming years.
b) I do agree with Joseph Stiglitz’s statement that it is much harder for kids to rise above their parents station nowadays because everything is so costly. The tuition for colleges is extremely expensive and most parents cannot pay for it. These days many kids do not attend college therefore it is harder for them to succeed above their parents. I believe that in order for the economy to become better in the future, we need to focus on lowering college tuitions and getting more kids to go to college.
c) I do not believe that the income divide is a fair by-product of our economy because it is not helping all of us. It leaves those who need it the most, like the middle class, with nothing. The government needs to take further control to help fix this problem by lowering costs and help the middle class more than just the wealthy. Joseph Stiglitz stated in his article that the public trying to help and stop this problem is only making it an even bigger problem. In this case, the government needs to step it up because they are the only ones who would be able to fix this.
2.
a) In both the article and the video the main points to support income inequality are that it functions America’s economy and that is the way it is always going to be. Another point that they mention in both, is that if you want to be wealthier and not be affected by income inequality then you need to work your way there and be successful by putting yourself out there and taking chances.
b) After reading and watching both articles I still have to agree with the first one because the middle class ha not always suffered this badly. Things only seem to keep getting worse and worse and something needs to change. The government needs to take control and stop this before almost everybody is in poverty with no future. Some people try very hard to become wealthy but these days becoming wealthy is one like one in a million. There needs to be changes because all I know is that I do not want to grow up in such a terrible economy.
I agree with you Kayley when you said that it seems that things keep getting worse. I also agree that the government should bring an end to the economic problems that place people in poverty. I agree that it is very difficut and a small chance to become very wealthy.
Delete1.
ReplyDeleteThe main points made in opposition to income inequality in both the video and the article are that the top 1% income earners are earning and increasingly larger amount of money than the rest of the working population. Also, the middle class is not making as much money as it used to a long time ago. Because of this, the hopes of coming into america to live the "American Dream" are diminishing because it is much less possible to work and become something of yourself if the 1% is a lot higher than the rest of the population.
Yes, I agree with Stiglitz's assertion that it is now much harder for kids to rise above their parents' station in America because you need more than just determination. In order to rise above you would also need skill in what you would plan to succeed in along with personality or something to make other people find you interesting. Not to mention it takes money to sell your ideas, or even live in the places that would make your dream happen. The fact that the top 1% is so much higher than everyone else makes it much harder to become one of them.
I do not believe that the income divide is a fair by-product of our economy because the divide is so great, but I do believe that no matter what there will be a divide that will not be fair to the people on the bottom. If the government is to do anything about it I think that they should make education more affordable, so the people who want to peruse their dreams, and become something
great can have that opportunity. Also I think that taxes should be higher on the one percent until the divide between them and the rest of the population is less.
2.
The main points that are made in support of income inequality in both the article and video are that inequality is needed in a capitalistic economy, and there has always been, and always will be income inequality. With inequality comes the people who aspire to become great, making more wealth for themselves, and the country in general.
These documents did not really change my opinion on income inequality because I had an opinion that was pretty much set before I read them. One thing that I realized from reading these articles and watching the videos is that no matter what the situation is, someone will find it "unfair" because they have different opinions on how the economy should be, but they all want what is best for the country and how it will hopefully thrive in the long run.
I completely agree with your response to the last question. My mind was pretty set as well though i did learn a lot from reading those articles and watching the videos.
DeleteI think that although it may not seem fair to all of us, yes, some divide is inevitable. I also agree that we need to make education more affordable. The price of college in our country is ridiculous. If tuition stays where it is the divide will get worse because student debt could push people into the lower class. Taxes should definitely be raised temporarily of not permanently to shrink the size of the divide, however necessary it is. There wasn't really anything you said which I didn't agree with.
DeleteJoshua Teixeira
ReplyDeleteIncome Inequality in America
1.
a. The main points that show the negative side of income inequality are clearly visible when reading the article or watching the video. Some such points of opposition are the facts that are listed in the article. They say things like “…rising inequality and the sluggish recovery…are in fact intertwined,” and “[There has been a] hollowing out of the middle class since the 1970’s.” These are among many points of opposition mentioned in the article. However they all boil down to that the inequality is making less money end up in the economy making jobs, and more money in the 1%’s pocket.
b. I do agree with Stiglitz’s opinion about kids rising above their parent’s station in America because in this economy it can’t really happen (like he said). With the state of the inequality it is very difficult for poor children to get the money to pay for college (and today it is very difficult to get a job without a college degree so don’t even talk about high school dropouts). Also with the cuts to education and social services the “American Dream” has reached a all new level of un-attainability.
c. I believe that the inequality is an inevitable byproduct of our current government policies and leadership. Although I think it is not that simple; let’s look at voter turnout at an average congressional election, 41.1%. This means that less than half the country’s views are represented by congress, and with the approval rating of congress around 11% the country has yet to do something about it. So an overwhelming amount of the country is unhappy with the people that dictate how they can live, their taxes, laws, and decide how the countries money is spent. So back to do I believe this is fair; I believ this is a fair by-product of our nation’s current ‘giving a crap’ about their representatives, ie. the people who say “I hate congress” and then say that they don’t vote.
2.
a. There seems (at least to me) to be very few “main points” on this side of the argument. While what they say makes sense there seems to be very few points that actually connect back to the problem (or in this case “natural phenomenon”). The point that is repeated is that to survive, a free market capitalist society need to have income inequality (which makes sense but it fails to touch on the issue that the inequality may be too high rather than being simply present).
b. These documents did show me some of the potential problems leading to the inequality (the video touched on a lazy class and a class that feels entitled) but I still believe that if the gap was not so big and there was a more even distribution of wealth and almost a natural selection of economics where the people who work the system of welfare and unemployment fail economically there would be a healthy middle class that would be able to support the American economy.
1. One of the main points made by Stiglitz was that the middle class is not spending as much money as they did. Our economy depends on this money being spent, so when people are not spending the economy struggles. A main problem mentioned to be causing inequality is a phenomenon called the “hollowing of the middle class.” I looked this up and it means that there are fewer jobs available and they are highly specialized which means less people are available to do them. There have also recently been tax breaks for the rich and cuts to programs for the poor. Essentially, the rich are becoming even richer and the poor and middle class are struggling more, so the difference between “rich” and “poor” has become more stark.
ReplyDeleteI do agree that it is harder for kids to rise above their parents the way the economy is today. This is because there is much more of a divide between “prosperous” and “poor” or “normal.” There is less money, and fewer jobs available, which would make it harder to get one. Tuition is more expensive which will result in more debt to pay after college. After this, because the divide is so big, the bar has been raised for this generation and it is harder to reach the upper class.
I don’t believe the divide is a fair by-product. I think more should be done to control the inequality. There should be fewer tax breaks for the rich. If they are giving up more of their money, it can be put back into the middle class which will shrink the divide. This will allow more opportunity to open back up for people. They will also have more money to spend again which can start the economy running the way it has in the past.
Overall I believe it’s important to focus on reducing economic inequality.
2.
-One of the main points of the second article and video were that income inequality is a by product of a healthy economy. It said that it everyone had the same thing an economy could not function and that inequality is natural in a capitalist society. It was also mentioned that having a more prosperous upper class can motivate the lower class to work harder to reach that point.
-My opinion does not change. While I can see that a healthy economy will have some disconnect between different classes, I do not think it is okay for the divide to be as big as it is and still growing. Kids won’t be able to climb the economic ladder. It seems to me that they will stay poor if they are born poor, and while the money flows into the upper class, the lower class will grow, and poverty will become worse and more widespread. I do not believe that extreme income inequality is a good thing.
1. Both the video and the article address how inequality is holding back economical growth among communities. The the middle-class is failing, while the rich continue to prosper. From an economical standpoint, America cannot completely recover unless inequality is addressed.
ReplyDeleteI completely agree with Stiglitz's statement. Because of the dwindling household income for middle-class families, the predominant way of receiving a tertiary education, is through taking out student-loans. Student-loan debt eventually topped credit-card debt. The epitome of life in America, the "American Dream" is slowly drifitng away for kids.
I disagree that the income divide is a fair by-product of our economy. The inequality rewards the minority (the "1%" in the article), but does nothing to benefit the MAJORITY. The middle-class are more apt to spend their income in the consumer market than the minority (the rich); this helps are economy thrive. However, the fact middle-class household incomes are drastically lower does nothing to help the economy. Many important things, sucha ss tuition funds, are directly affected by the amount of income a household receives. The Government should do more to help the inequality. They represent the people, and need to do more to assist them. In order for the economy to be fully fixed, this issue (inequality) needs to be addressed.
2. The article and the video seemed to convey a lesser opposition towards income inequality. They go more on the basis of, income inequality isn't that big of a deal, and that not many people care about it. Fully equality among the rich and the poor will never happen; that's why we classify those two groups as such. Hard work is what guarentees you a spot high up in the economic ladder.
The first group of sources was very democratical, while the second group was more of a Republican standpoint. Has my opinion changed? No. I still believe that achieving the "American Dream" will be presented as much more difficult for the middle-class. Low incomes and high tuition rates don't exactly fit together. The Government taxes the people; the people don't tax themselves. The rich should pay a little more as far as taxes go. Is income inequality important? I believe so. Everyone should be given the same chance to succeed. I'm not saying that the Government should hold the people's hand, but at least give everyone, regardless of class, the oppurtunity to achieve the "American Dream".
1.
ReplyDeletea)The main points that are made in oppositionto income inequality in both the video and the article are people are moving apart. Communities are becoming more economically different. Medium income is the worst. The share that goes to the top 1 percent has doubled in the past 30 years. The middle class is getting to weak to support consumer spending. The middle class is also having trouble with investing in the future. The middle class is holding back tax recipts.
b) I agree with Stiglitz's assertion that it is now harder for kids to rise above their parents' station in America because fixing inequality problems is difficult. Economy problems are continuing to increase. Unemployment is still high and income for the middle class is at all time low. With income being low, it is harder for children to get a good education or afford college.
c) I do not think the income divide is a fair by-product of our economy. I believe our government should do more to control the inequality. The income inequality should be controlled because at this rate inflammation might be a result. Some say that income inequality is uncontrolable but I believe it can be fixed. There should be more taxes on the wealthy. The wealthy should also have less income. People should be able to send their children to a good, affordable college.
2.
a) The main points that were made in support of income inequality in both the article and the video are some people see income inequality as natural, necessary, and desirable. The poor have increased their access to luxury items. They also have increased their share of consumption more than the middle class. The gap after tax income has shrunk. One opinion said that people are different so high income inequality is a possitive sign for an economy because we need some people to achieve a lot so others can work harder each year. The sources also said that there are many benefits of income inequality that are not shown through statistics. Income inequality provides people to improve their situation.
b) These documents did not change my opinion. I realize that income inequality might always happen because it is a part of our society but I also believe it can be improved in a way that would help each social class. Even though income inequality is a part of our society, I do not think of society needs a high amount of it. The middle class is crashing due to the affects of income inequality. My opinion was the same going into reading the documents and coming out. My opinion is that income inequality should be improved but not completely changed by the government.