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Warm Up 9/17

Warm Up 9/17. Get out binders What do you think “Wealth Inequality” means? What are your thoughts about it? Is it a problem?. Wealth Inequality. Wealth vs Income. Income: how much money you make Wealth: how much money you have

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Warm Up 9/17

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  1. Warm Up 9/17 • Get out binders • What do you think “Wealth Inequality” means? • What are your thoughts about it? Is it a problem?

  2. Wealth Inequality

  3. Wealth vs Income • Income: how much money you make • Wealth: how much money you have • Wealth or Income inequality is all about who gets access to what services.

  4. Income Inequality • First we will make sure we understand what life looks like for each level of income. • You will be sorting statements into which economic group they would be true of.

  5. ASSIGNMENT: Sorting Opportunities • Work with partner. Make this chart on the white boards. Working Class Extreme Poverty Poverty Middle Class Upper Class Top 1%

  6. Income Inequality • You will need to cut out the statements before you start. • Don’t worry about attaching them to the chart, you will write in the correct answers when you are finished.

  7. Income levels (for WA) • Wealth References (for a family of 3): • EXTREME POVERTY: less than $4,000 a year • POVERTY: less than $26,000 a year • WORKING CLASS: $26,000-$80,000 a year • MIDDLE CLASS: $80,000-$188,000 a year • UPPER CLASS: $188,000 and up • TOP 1%: at least $450,000 a year

  8. Income Inequality • You will be sorting statements into the POOREST group that you think that statement is true of. • “Can afford to breathe air” would go in Extreme Poverty because everyone can afford that. • “Can afford a 15 million dollar house” would go in Top 1%.

  9. Income Inequality • Now you will write in the correct answers on the chart you didn’t use.

  10. Extreme Poverty Poverty Working Class Middle Class Upper Class Top 1% Reasonably priced new car Family provides economic support. Dental Care Afford to move Own property in Kent, Renton Used car, bad condition Coffee, etc. Always enough food Children can apply to any college Rent in poor areas College if kids take loans Restaurant once a month Vote in all states Public Transit Would not starve Can buy used clothes Basic Medical care Club sports College debt-free House in Seattle etc. Boat in a marina Vacation 2x a year Private School Take out Library books Public Schools Vacation home Luxury cars

  11. Income Inequality • Copy those into both binders. • Paper-clip all of the statements into one pile. • Discuss: Which of these surprised you the most?

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