2. Myths….
The United States is Essentially a classless
society, equal in the eyes of the law and
in basic needs such as health care and
education.
We are all getting richer.
We are essentially a middle class nation.
In the United States anyone can be a
Millionaire.
3. Mantos, Class is America p. 9
The Wealthy
“The wealthiest 1 percent of the
population 34 percent of the total
national wealth.”
“The richest 20 percent of Americans hold
nearly 85 percent of the total household
wealth in the country.
Approximate 338,761 Americans earn
more than 1 million annualy
4. The Wealthy Continued…
There are nearly 400 billionaires in the U.S.
More than 3 dozen of them worth more
than $10 billion each.
5. The Rest of Us……..
Itwould take the average American
earning $49,568 (and spending absolutely
nothing at all)a total of 20,174 years to
earn just 1 billion. THAT’S 298 LIFETIMES!!!!
1 in 8 people live below the federal
poverty guidelines.
An estimated 3.5 million people, 1.4 million
of which are children experience
homelessness each year!
6. It is only getting worse….
While the real income of the top 1
percent of U.S. families more than
doubled between 1979 and 2003, the
middle fifth only grew about 9%.
Economic growth tends to be a spectator
sport for the majority of American families,
however economic decline is more
“inclusive” with lay offs impacting those
with the fewest resources to fall back on.
7. The Pyramid….
“To help his students visualize the distribution of
income, the well-known economist Paul
Samuelson, asked them to picture an income
pyramid made of children’s blocks, with each
layer of blocks representing $1000. If we were to
construct Samuelson’s tower today, the peak of
the tower would be much higher than the Eifel
Tower, yet almost all of us of us would be within
six feet of the ground.” (Manstios Class in
America P.180)
8. Realities… Mantisos Class in America
“The middle class in the United States holds a very
small share of the nations wealth and that share is
declining steadily.” (p. 183)
“Class affects more than life style and material
well-being. It has significant impact on our
psychical and mental well being.” p. 186
“Class has significant impact on our chances for
educational achievement.” (p. 188)
“Inheritance laws ensure a greater likelyhood of
success for the offspring of the wealthy.” (p. 188)
9. Approaches..
The object of this article is to inform the reader
of the inequalities of the distribution of wealth
within American society. The author has
researched financial data to come to the
conclusions stated. The researcher is looking
at the Critical approach because they are
looking at the larger power structures such as
inheritance laws and economic structure as
the reason behind the injustice.
10. Questions??????
The article discusses that class may no longer
be visible due increased marketing of
designer clothing. What do you think, is it
becoming increasing difficult to determine if
someone might need financial assistance just
by looking? Is this a good or bad thing?
The article touched very briefly on the
subject of inheritance laws. Do you feel
someone should simply be able to be born
into wealth or poverty that then determines
their future?
