SOCI 1160 Lecture Notes - Lecture 2: Racial Segregation In The United States, Political Alienation, Working Poor
Document Summary
Social stratification is a society(cid:859)s syste(cid:373) of ra(cid:374)ki(cid:374)g categories of people i(cid:374) a hierarchy. It produces social classes, categories of people who have similar access to resources and opportunities. Income is salary or wages from some job and earnings from investments and other sources. Wealth is the value of all the economic assets owned by a person or family, minus the debts. 60% of all families have less than 2% of all wealth. Taxation is used by the government to reduce economic inequality through progressive taxation, or tax rates go up as income increases. Families in the top 10% of income distribution. 67% of white families earn more than ,000 yearly. Poverty line income level set by the government for the purpose of counting the poor-roughly three times what a family needs to eat basic nutritious diet. Poverty gap is the difference between poverty line and actual income of typical poor household.
