started off the day with Bruns talking about semester test, and then we took notes and answered questions.
Notes:
1. I think that it would be about 1%, 9%, 20%, 30%, 40%
2. It should be completely equal and everyone would be in the middle class with 100%.
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Why did Karl Marx dislike capitalism?- Karl Marx didn't like Capitalism because it was based off of inequality.
What is income inequality?- It would be the in-equal distribution of money to different people.
Why is income inequality a problem?- because while people are living the good life with wealth and riches, others are living on the streets begging for coins.
How bad is income inequality in the US and world?- The top 1% of people in the United States control 40% of all the wealth in the country, where as the top 20% has 93% of all wealth In the United States of America. and the rest only have 7%. That 7% includes all of the middle class and and the bottom 20% of all Americans.
Why do developed countries have bigger issues with income inequality?- because the people that work harder, get greedy and then don't want to distribute money.
What are the causes of income inequality?- hard working people get out of had and get greedy while other people suffer
What can we learn from other countries about income inequality?- That they're not us.
What can be done to improve income inequality?- start cutting off the government's money and funding all of the other people that are in the middle and lowers class.
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