Understanding Economic Inequality and Solutions

The video discusses the decline of the American Dream due to stagnant wages and rising living costs. It attributes economic inequality to decisions made since the late 1970s, such as tax cuts for the wealthy and globalization without worker protections. The video critiques trickle-down economics and suggests solutions like providing $500 monthly to low-income earners and reforming the tax code. It emphasizes the responsibility of the wealthy to contribute to economic reform.

What is the main reason for the perceived decline of the American Dream?

• Higher education levels

• Decreased cost of living

• Stagnant wages and rising living costs

• Increased job opportunities

What has influenced the current economic structure since the late 1970s?

• A single major event

• Natural disasters

• A series of decisions

• Random events

What has globalization contributed to, according to the transcript?

• Decreased economic growth

• Economic growth without worker protections

• Even distribution of wealth

• Reduction in technological advancements

What is a criticism of trickle-down economics mentioned in the transcript?

• It increases government spending

• It benefits only the wealthy

• It reduces economic growth

• It leads to higher taxes

What is proposed as a solution to empower people and re-energize the American Dream?

• Increasing corporate taxes

• Providing $500 to every American earning less than $50,000

• Increasing minimum wage

• Reducing government spending

What is the purpose of the earned income tax credit mentioned in the transcript?

• To increase corporate profits

• To provide financial support to low-income workers

• To increase taxes on the wealthy

• To reduce government debt

What responsibility do those who have benefited from the new economy have, according to the transcript?

• To reduce their working hours

• To help others climb the economic ladder

• To pull the economic ladder up behind them

• To invest in foreign markets

What tax reform is suggested to fund a guaranteed income?

• Increasing taxes on small businesses

• Eliminating all tax credits

• Raising rates on income over $250,000

• Lowering taxes for all

What is the Buffet Rule mentioned in the transcript?

• A rule to reduce taxes for small businesses

• A rule allowing lower tax rates for high earners

• A rule to ensure high earners pay a fair tax rate

• A rule to increase corporate taxes

How does the proposed guaranteed income compare to the cost of the Trump tax bill?

• It is significantly more expensive

• It is slightly more expensive

• It is significantly cheaper

• It is the same cost