About the documentary:
The film was directed in 2013 by Jacob Kornbluth. The film examines the widening of income gap in the united states. The documentary was presented by Robert Reich, an American economist, author and professor.
What is happening with the distribution of wealth?
People are not receiving the equitable amount of money. The rich are receiving more, middle class are receiving the same money as the poor and the poor are receiving nothing that they need. The middle class should sound like its moving up, but really its down sizing to the poor.
This is a graph for the distribution of wealth in America. The bottom one is how america's distribution should look like. The middle one is what American's think the distribution of wealth looks like. And the top one is the actual distribution of wealth looks like.
Why is this happening?
This is happening because the rich are hoarding the money, but not spending it fast enough.
The middle class are taxed the most , while the rich are giving less taxes. Which is not fair at all, because the rich should be giving the most money.
The virtuous cycle, is a cycle that is better for workers for things like; Productivity growth, wage increase, workers buy more, companies hire more, tax revenue increases, government invests more and the workers are better educated,
The vicious cycle, is a cycle that is creating problems for workers such as; The wages stagnating, the workers buy less, companies downsizing, tax revenues decreasing, government cutting programs, workers being less educated, and unemployment rising.
Is this a problem?
Yes this is a problem because the governments needs money to build schools, hospitals, roads etc. But if the middle class aren't able to pay the taxes, and the rich don't pay that much.then the government will start cutting programs.
Debt:
In America the poorest people have the most debt in the whole country because they take money from cash stores, or ''borrow money'', also gambling is another way to be in debt. When they borrow money they usually don't have money to give back, and when they have more bills to pay they borrow more, and more. Eventually they would be stuck in the ''Debt Cycle''. An example of the debt cycle is in the book Scarcity with Sandra who was in the debt cycle. In 2006, there were more then 23,000 payday lenders branches in the United States, which was more then all McDonald's (12,000) and Starbucks (9,000) locations combined.
Democracy:
A system of government by the whole population or all eligible member of the state (+18), typically through elected representatives. (The United States of America)
Plutocracy:
A country or society governed by the wealthy. (Roman Empire)
Differences of democracy and plutocracy:
Only the wealthy can govern that area.
*Right now we are in a: Democracy
*It feels like a: Plutocracy
*We should be living in a: Democracy
The reason why it feels like we are living in a plutocracy is because lobbyist are paying money to the politicians to influence them. Then after the politician wins they would ask for the favor back.
People are not receiving the equitable amount of money. The rich are receiving more, middle class are receiving the same money as the poor and the poor are receiving nothing that they need. The middle class should sound like its moving up, but really its down sizing to the poor.
This is a graph for the distribution of wealth in America. The bottom one is how america's distribution should look like. The middle one is what American's think the distribution of wealth looks like. And the top one is the actual distribution of wealth looks like.Why is this happening?
This is happening because the rich are hoarding the money, but not spending it fast enough.
The middle class are taxed the most , while the rich are giving less taxes. Which is not fair at all, because the rich should be giving the most money.
The virtuous cycle, is a cycle that is better for workers for things like; Productivity growth, wage increase, workers buy more, companies hire more, tax revenue increases, government invests more and the workers are better educated,
The vicious cycle, is a cycle that is creating problems for workers such as; The wages stagnating, the workers buy less, companies downsizing, tax revenues decreasing, government cutting programs, workers being less educated, and unemployment rising.Is this a problem?
Yes this is a problem because the governments needs money to build schools, hospitals, roads etc. But if the middle class aren't able to pay the taxes, and the rich don't pay that much.then the government will start cutting programs.
Debt:
In America the poorest people have the most debt in the whole country because they take money from cash stores, or ''borrow money'', also gambling is another way to be in debt. When they borrow money they usually don't have money to give back, and when they have more bills to pay they borrow more, and more. Eventually they would be stuck in the ''Debt Cycle''. An example of the debt cycle is in the book Scarcity with Sandra who was in the debt cycle. In 2006, there were more then 23,000 payday lenders branches in the United States, which was more then all McDonald's (12,000) and Starbucks (9,000) locations combined.
Democracy:
A system of government by the whole population or all eligible member of the state (+18), typically through elected representatives. (The United States of America)
Plutocracy:
A country or society governed by the wealthy. (Roman Empire)
Differences of democracy and plutocracy:
Only the wealthy can govern that area.
*Right now we are in a: Democracy
*It feels like a: Plutocracy
*We should be living in a: Democracy
The reason why it feels like we are living in a plutocracy is because lobbyist are paying money to the politicians to influence them. Then after the politician wins they would ask for the favor back.
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