SOC 302 Lecture Notes - Lecture 9: Government Spending, Glass Ceiling, Social Capital
Document Summary
Income: money received by a person or household over some period of time. Income includes wages, salaries, and cash assistance from the government. Wealth refers to the stock of assets held by a person or household at a single point in time. These assets may include financial holdings and savings, but commonly also include the family home. Wealth inequality is greater in the us. Government spending has helped lift lower income but only by a little bit. Cost of livi(cid:374)g go(cid:374)e up (cid:271)ut i(cid:374)(cid:272)o(cid:373)e did(cid:374) t. Increased health care spending on the elderly consumes most of the gains. The top 1% and the bottom 50% have swapped their relative shared of the national income (top 1% has. Taxes in us are much less progressive than they used to be. More women in the work force decreased equality. There is still a heavy glass ceiling (?) Takeoff of incomes at top end of distribution.
