SOC 103 Lecture Notes - Lecture 10: Income Tax
21 Dec 2017
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Canada are better off than us as we have a strong welfare state policy. We chipped off that policy and took an liberal/neo approach. Explain why this is happening (e. g. note the factors/events that have led to where we are today) 400 people have more wealth than half of us. 1928 and 2007: peak years for income concentration. Middle class is the most important for an economy. The middle class are the center of the economic market. Government sets the rules by which the market functions. Average hourly earning of workers flattened in the late 1970s while the productivity kept increasing. Financiers as finance was the fastest growing part of the economy. Big companies are designed to make profits not create jobs. Overtime (cid:1005)97(cid:1004)s: tyical wage is flat . (cid:373)iddle class keep o(cid:374) spe(cid:374)di(cid:374)g . late 70s: women go into paid work family income was going down. Housing prices go up: mid to late 90s homes were being loaned,
