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Transcript of Classism Presentation
What is Classism?
Myths vs. Reality
Myth: The US is a classless society.
Myth: America is a middle class nation.
Myth: Everyone has an equal chance to succeed.
Video: Wealth Ineqality in America
The Debt Trap
In recent years, banks have switched from earning money from loan repayment, to earning money from front-loaded fees and interest. Since banks package and sell loans and securities, they depend more on fees than on loan repayment.
OCCUPY and THE 99%
How does classism affect us?
What can we do about it?
Race and Class
Intersectionality: gender, education, and race all affect socioeconomic class and class mobility.
Myth: The US is a fundamentally classless society.
Myth: America is a middle-class nation.
Myth: We are getting richer.
Myth: Everyone has an equal change to succeed.
In the US, everyone can succeed if they work hard enough.
What does this have to do with class?
REALITY: The gap between rich and poor is at its widest since the government first began collecting data in 1947. The richest 20% of Americans hold nearly 85% of household wealth.
REALITY: 60% of the US's population holds less than 6% of the nation's wealth. From 1979-2000, the top 1%'s income rose by 180%, while the middle fifth's income rose only 12.4%.
Myth: We are all getting richer.
REALITY: 13% of Americans live below the poverty line. The class you are born in almost always determines the class you die in.
REALITY: Inheritance laws, gender, education, and race are the determining factors of success. Poverty and class are institutionalized and systemic.
Ex: Bill Gates' net worth in 2004 was 48 billion (not counting the 28 billion donated to the Gates Foundation). His personal fortune exceeds the combined wealth of the bottom 45% of Americans.
Classism is discrimination based on social and economic class.
Image courtesy of Activistpost.com
Image courtesy of visual.ly