The gap between America’s rich and poor is a core problem that both Senators John McCain and Barack Obama have discussed during the 2008 presidential campaign.
Los Alamos, New Mexico is the wealthiest community in America, but families are struggling in the surrounding cities and many other parts of the state don’t share its prosperity.
This report looks at theories in practice, such as “trickle down economics” based on Ronald Reagan’s idea that wealth filters down through the economy from the richest, to the least wealthy through investment and new businesses.
Quotes
“America is distinct in the extent to which inequality is inherited from generation to generation. The kids of rich parents have a strong tendency to be rich. And the kids of poor parents are very, very likely to be poor, to a far greater extent than is true of any other country, except for England.” Sam Bowles, Economist
“A function of the market is rewarding people who add great value to a process. And, fortunately or unfortunately, in today’s world, that parallels one’s education.” Sherman McCorckle, President, Technology Ventures Corporation
Warm Up Questions
1. What is the difference between rich and poor? What are the lines between rich, middle class and poor?
2. What percentage of the country do you think is rich, what percentage is poor?
Discussion Questions
1. Do you think trickle down economics is a good or bad theory? Why?
2. Do you think closing the gap between rich and poor is important? Why or why not?
3. If closing the gap is important, what are some things the president and other politicians could do to try to close it?
4. What role do you think education plays in the issue of economic inequality?
5. How do you think the U.S. compares to other countries in terms of the economic inequality between the wealthiest and poorest citizens?
Additional Resources