Growing Wealth Gap

in America
By Benjamin Shapiro, Garvey Sims,
Yaseen Altarrah, Waleed Alhajeri,
Alfred Rao

Dilemmas of Inherited wealth, Capital in

the Twenty First century by Thomas
Piketty
Inherited wealth predominates earned
wealth
r>g
The richest one percent of people in
America equals one third of the country's
wealth

The Demise of the Trickle-Down theory of

Milton Friedman
Accumulation of wealth is good for poor
it will trickle down to the poor from the wealthy.
Executive has direct responsibility to its shareholders

Forbes- If he (executive) uses any money for social

benefit/responsibility, he is in sense spending their money.

Debate over taxation and income

distribution (Capitalism vs. Socialism)
Socialist Ideals:
Public ownership of property
Unified means of controls
Democratic political compromises

Capitalism Ideals:
Individualism
Pure competition
Money an wealth focus

Pros and cons of the Welfare system

Pros
Increased access to medical
care
Food and shelter for children

Cons
Welfare fraud
Keeps people from getting
married

Crime is reduced

Leads to dependence

Provides financial assistance

It costs the taxpayers

Debate of the minimum wage rate

7.25 USD Per Hour In the United States of America
No.1 :Washington D.C $10.50
No.50 :Wyoming $ 5.15
California: $9.00

Rich VS Poor
s

Their Ideas
Joseph Stigliz

Paul Krugman

Robert Reich

Arguments:

Joseph Stigliz: There is a large gap between the super wealthy and the
Lower class citizens in the US.Walton family, 6 or 30% growing.
Paul Krugman: Political forces have driven the income inequality gap
to grow larger. Unions
Robert Reich: 1% have 35% of America's wealth. Taxes for wealthy
slashed.

Video:
https://www.youtube.com/watch?v=pSOgxZ8lRUw

Works Cited (Sources)

http://www.infoplease.com/ipa/A0930886.html
Aghion, Philippe, and Patrick Bolton. "A Theory Of Trickle-Down Growth And Development." Review
Of Economic Studies 64.2 (1997): 151-172. EconLit. Web. 4 Dec. 2015.
Arthur O. Utilitarianism: for and against. Cambridge University Press, London, first edition, Illustrative
navigation through the absolute and relative concepts, 1973, print.
Kant, I., Fundamentals of the Metaphysics of Morals and what is Enlightenment, second, edition,
James Ellington, Indianapolis:Bobbs-Merrill, 1963, print.
Nathaniel Downes,The Architect Of Trickle Down Economics Finally Put In His Place, JUNE 30, 2013
R.A, Thomas Pikettys Capital, summarised in four paragraphs ,
http://www.economist.com/blogs/economist-explains/2014/05/economist-explains, May 4, 2014