POL SCI 51A Lecture 13: Lecture 13, POL SCI 51A
26 Jun 2017
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The united states has the highest levels of income inequality of developed nations. 400 people have more wealth than half of the united states. The top 1% turned to the financial sector and created a bubble, while the middle class continued to go deeper and deeper debt. You can"t tax the job the creators. We need to replace trickle down economics, but middle-up economics. The most business thing you can do is to help middle class people thrive. Some people say that the decrease in worker unions are the reason for the decline in the middle class. Iphone example, it"s not only the cost of labor, yet where the company gets its materials is what matters. Middle class families with two wage earners are working harder to get both. This is a result of everyday things like healthcare, homes, students etc going up in price dramatically. As income inequality rises, upward mobility falters.
