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23 Cards in this Set
- Front
- Back
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Where does Robert Reich teach? |
UC Berkeley |
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Some inequality is inevitable. Why? |
Have to have 3 classes |
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The richest 400 people in the United States have more wealth than? |
Half of the population of the u.s. |
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When was the income tax instituted? |
1913 |
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1928 and 2007 was the economy relying on what sector to provide all of their money? |
Financial sector |
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What makes an economy stable? |
Strong middle class |
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Consumer spending is what percent of the economy? |
70% |
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What is the household median of the middle class? |
$50,000 |
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Why aren't the rich the key to fixing our economy? |
Spend too little. Don't generate enough economic activity. |
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Why isn't there any such thing as a perfectly free market? |
Government sets rules by which Market functions. |
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When you buy an iPhone, to which country does most of the money go? |
Japan |
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What two things reduce the average American workers pay? |
Globalization and Technology |
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Which country should the United States try to emulate to get back on its feet? |
U.S |
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What are some of the aspects of the virtuous cycle? |
Workers buy more, government investment. Tax revenue workers are better educated. |
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Inequality is clearly linked to what one thing? |
Better education |
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Executive pay isn't always given in cash. What is it usually given in? |
Stock options |
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The inequality graph was in the shape of what? |
A Bridge |
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We tried three ways in history to deal with the fact that we aren't making enough money. What are those three ways? |
-Women going into paid work. - Men and women worked longer hours. -Borrowing and going into debt. |
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Where does income inequality undermine democracy? |
When wealth accumulates , comes the capacity to control politics. |
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Under the Republican president, the top marginal tax was 91% (with 54%). Who was the president? |
Dwight D Eisenhower |
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The current capital gains tax rate is? |
15% |
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What happened in the US Supreme Court ruling of Citizen United? |
Decided corporations are people. Wealthy people can flood the political system. |
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How can an individual have an impact? |
Lead in your career. |
