I’ve been writing a lot for my political science class, so I figured that would help for my attempt at writing everyday. For our class, we had to watch Inequality for All and answer questions. This is my second time with Reich’s documentary and I still found it informative and amazing the second time around. I highly recommend it.
1. How important is a flourishing middle class for democracy?
Completely necessary. A thriving middle class is the core of the consumer society that makes up 70% of the US economy that translates to prosperity throughout the world. A flourishing middle class means less inequality and less political polarization and battles of the classes.
2. Why can we compare 1928 with 2008 in economic terms?
Similar times in history. Cycles of a peak in inequality and debt bubbles bursting and forcing the economy into huge recessions. It is cyclic and represented by the pillars of a bridge graphic.
3. Which years were the golden years of reaching equality and an ever larger middle class in the U.S.?
1947 – 1977 were golden years with the lowest rates of inequality and that was because of a large, growing consumer middle class supported by government-funded public universities, GI Bills, and the rise of unions that ensured fair pay and benefits. Wage stagnation was fought with Union membership.
4. Who is the president who started implementing social programs?
Dwight Eisenhower, who many claimed was a socialist.
5. What are some of the reasons that the middle class grew during this period?
Union membership which provided bargaining power and ensured wage proportional wages and benefits, which led to higher standards of living and consuming. The economy boomed and the government invested in public education and America saw its place at the top of the world with an educated, skilled workforce. The middle class was taken care of and the economy thrived.
6. With which president did this increase in the middle class turn flat?
Reagan, when he cut taxes on the top 1% from 91%, 70% to a mere 35%, which most of the rich don’t even pay because of the form their capital comes in.
7. What are some of the specific economic policymaking decisions by this president that resulted in a flat income and ever more difficult to reach middle class status?
50% tax cuts to the top 1%, whose wealth is more than half of America. These tax cuts and trickle-down economics mentality decreased wages for the middle class that cut short consuming, which led to downsizing, more lay-offs, and government reluctance to invest and fund education and destroyed upwards mobility. Reagan also fought unions and fired those that refused to work when their Union bargains were not met. Unions and labor protests were then met with police brutality and force and the rich were allowed to influence government using lobbying and super pacs.
8. Who according to Reich is really to blame for this ever growing inequality?
Ourselves because we allow it to happen and do not educate ourselves in what is really going on. It isn’t about a battle of the classes because a successful middle class means a successful upper and lower class too. It isn’t a group of who is wrong – we are all responsible.
9. According to Reich, at the end of this documentary, is there reason for despair or is there hope for change?
There is a hope for change and politics in the world starts right inside us and in the way that we can change the people around us and maybe our communities, societies, and even the world on a grander scale.
10. According to Reich, what kind of change is needed, and who will be driving this change?
As the 99% we need a voice, and with that voice comes power. We as the people should be making the rules of the economy and of society. We are the change we wish to see in the world. We need to change and educate others in order to start a movement that can change society and fix inequality. We need to fight for our wages and our benefits. We need to fight for a reasonable way to live. We need to fight for the middle class and get together to protest our systems that are titled towards the rich.