ipl-logo

Robert Reich Inequality For All Summary

1006 Words5 Pages

Secretary of Labor, Robert Reich, shares great knowledge on authority of economics. He is an american political economist as well as a professor at the University of California, Berkeley. In the documentary, Inequality for All, Robert Reich made me very intrigued that the fact income inequality is indeed present. I never understood economics and I did not know much about it. I never took an economy class in high school. What is economy? Is it only about money? Economy is a system that consists of production, distribution, and consumption of limited goods, according to the google dictionary. Robert Reich introduces and asks three questions. What is happening with distribution and wealth, why is it happening, and is it a problem or is it not a problem? He believes that the middle …show more content…

The middle class or the 99 percent is being taxed while the top 1 percent making the most of their living is not being taxed enough should be stopped. Top 1 percent is already living at their perks. Would it kill them if they were not taking from the rest of the 99 percent? It does not harm them but they are greatly harming the 99 percent. The middle class is living uncomfortably and some are barely making it. The middle class is working harder than ever, but yet they are not getting anywhere. The top 1 percent should stop saving and they are not generating enough for the economy, we need spending in order for the economy to run smoothly. A stable economy is a strong middle class and I totally agree with Robert Reich because the middle class actually spends their money! 70% consumer spending is from the middle class according to Reich. They are actually benefiting the economy and unlike the top 1 all they do is save. I do believe that distribution and wealth is definitely unfair. It is only common sense. Why would you take more away from those who are barely making it? It does not benefit the 99 percent at

Show More
Related
290 Words | 2 Pages

Paul Krugman author of the article “Confronting Inequality” stresses the inequality of our social classes in the United States, he uses statistics to demonstrate the staggering consequences of this inequality within our social classes. Krugman emphasizes the fact that a majority of our wealth is owned by about one percent of the population, which is leaving the middle and lower class at an extreme disadvantage. One example Krugman uses is education; children that have wealthy families, have a higher percentage of finishing college than those of lower income families, proving the statement that Krugman was accentuating, “Class-inherited class- usually trumps talent.” The parents within this middle to lower class have been exceed their financial

Read More
327 Words | 2 Pages

Robert Reich starts off his article by stating the idea that income inequality is necessary for an economy to function at is fullest because people need incentive to work hard and make it to the top. Once he gets into the section about what we need to do to fix this growing problem of the wealth gap he states that there is not any one thing that we can do to fix it rather there need to be multiple things to happen to fix it. The first way Reich says we can fix the economy for a smaller wealth gap is to raise the minimum wage to about 15 dollars an hours in industries that are growing very fast like fast-food and hospitals. These industries are making large amounts of money but they are paying their workers very little. His next step is to get

Read More
1158 Words | 5 Pages

Kaitlyn Johnson English, 008 September 29, 2015 Inequality Inequality has been a major problem all over the world. Not just with race or gender, but now ones' income puts them aside from others. and they are catorgarized. Gary S. Becker, a Noble laurete in economics, and Kevin M. Murphy, a professor at the University of Chicago and a recipient of a 2005 MacCrthur "genius" fellowship, believe that a higher education equals higher income. Paul Krugmam, a teacher of economics at Princeton and the city University of New York, uses people who have had an impact on America.

Read More
1055 Words | 5 Pages

If everyone is skilled and part of the middle class and who is going to work the low end jobs and how much will it cost to fund this? I believe a tax reform and much leaner government would have a bigger impact on rejuvenating the middle class. The middle class should get some tax breaks, the wealthy should pay a bit more, and corporate tax should be decreased. But the reason why we pay taxes is to fund the government programs and if the money in not going into the right places, what the point of paying taxes? In my opinion, there will always be inequality between the rich and middle

Read More
426 Words | 2 Pages

When people hear the word inequality they think of inequality as a circumstance just involving race, things like being unequal with another person cause of your skin color or cause of your traditions. However, inequality covers many other broad factors one factor other than race being income inequality. In “Inequality Has Been Going on Forever…but That Doesn’t Mean It’s Inevitable.” (The New York Times, 02.05.14), David Leonhardt points out that Income inequality has come to be extremely high, the middle class is shrinking while the rich become richer. This attitude is encouraged by various factors: society, taxation, and how much time has passed.

Read More
705 Words | 3 Pages

Nowadays the goal of the republican party is to keep conservative values in the american people and the government; this was one of the main reasons why Ronald Reagan won his presidency in 1981. One of Reagan’s policies while in the presidency was the Economic Recovery Tax Act of 1981, this act was implemented to amend the Internal Revenue Code of 1954 to encourage economic growth through reductions in individual income tax rates, the expensing of depreciable property, incentives for small businesses, and incentives for savings, and for other purposes. However, even with this the rich still had ways to keep their taxes low. According to the documentary, “Inequality For All,” Robert Reich says, “The rich will find ways to avoid paying more taxes, courtesy of clever accountants and tax attorneys. But this has always been the case, regardless of where the tax rate is set.”

Read More
296 Words | 2 Pages

In Robert Reich’s documentary “Inequality for All” he demonstrated a great balance of emotional and logical appeal, which resulted in getting his point across to the audience. Reich argued that America is a consumer-driven economy and for it to achieve the middleclass should have more purchasing power to keep the economy as strong as it once was. From the beginning of the documentary I began to trust him by examining that he has an honest and comedic personality. The part of the documentary that interest me the most was the comment that CEOs worry more how fat their pockets are rather than worry if they have enough employees and if those employees are paid correctly. Overall, I view Reich as someone who does not point fingers towards the

Read More
1766 Words | 8 Pages

Should America implement a flat tax? According to Steve Forbes “For many years, people have said, ‘Make the rich pay more,’ and many politicians have said, ‘The rich people need to pay their fair share,’” (Forbes) but what do we think is really fair?

Read More
1754 Words | 8 Pages

It is said in the article that "if we have excessive inequality, it's because our economic rules allow or encourage it.'' Blessington (2016). Rules must be changed in order for there to be a change in our economy suffering from income inequality. It is all about winners and losers, the winners are those born into money and the loser are those who work and are middle

Read More
968 Words | 4 Pages

But again it's not fair to say the wage gap is not a problem especially with these numbers but with how taxation is heading it should be put more equally instead of pinning it on the rich.” ... There is no sustainable way to make the poor richer by making the rich poorer…”-Richard A.

Read More
325 Words | 2 Pages

“Fairness under a proportional or flat tax emphasizes equality: Everyone tax should be subject to the same tax rules, and therefore, everyone should pay the same tax rate and bear the same relative tax burden.” Any of the working classes will bear some type of burden, but this type of taxation ensures that every citizen is taxed fairly and equally.

Read More
743 Words | 3 Pages

The Politics of Income Inequality The unequal distribution of wealth is often mentioned among both democratic and republican parties, phrases such as “widening income inequality” and “vanishing middle class” a common occurrence in political rhetoric. But is the rich-poor gap as significant as they claim? According to research by Emmanuel Saez and Thomas Piketty, economic professors at UC-Berkeley and EHESS respectively, the answer is indisputable: the total market income amassed by the top 0.1 percent has been increasing steadily in the past three decades— the shares from 1970 to 2010 have more than tripled, rising from 2.78 percent to 9.53 percent— levels unseen since the Great Depression. Admittedly, Saez and Piketty’s findings are based

Read More
411 Words | 2 Pages

Wealth and Inequality in America Inequality The inequality in America has increased over time; the gap between the rich and the poor has become a problem that many Americans don’t see. Inequality is the extent of income which is distributed unequally among the citizenry. The inequality of the United has a large gap between the poor and the rich making it unfair to the population, the rich are becoming wealthier and the poor remain poor. The article “Of the 1%, By the 1%, For the 1%”, authored by Joseph E. Stiglitz describes that there is a 1 percent amount of American’s who are consuming about a quarter of the United States income in a year.

Read More
752 Words | 4 Pages

Do you ever think of why should or shouldn’t the rich people pay more tax than others? Nowadays, people are arguing about the fairness of paying more tax. Statistics have proven that the rich have paid the majority of U.S. income taxes. A person making $100,000 will pay a higher percentage of his income in taxes than a person making $20,000 for instance. According to the Congressional Budget Office, “The 10% of households with the highest incomes pay more than half of all federal taxes.

Read More
1212 Words | 5 Pages

But, taxing the rich more also wouldn’t be impartial that fair because the government already wastes much of the money pay they collect. Even though the wealthy have a higher income and can afford it, most of the wealthy worked hard to get where they are now. If we make the Making the rich pay higher taxes will have advantages and disadvantages as well.

Read More

More about Robert Reich Inequality For All Summary

Related Topics

Open Document