A NATIONAL TREND
SINCE 2006 THE INCOME GAP BETWEEN RICH AND POOR HAS GROWN \H THE 15 LARGEST U.S. CITIES
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Household Economics: Racial Distribution
Many experts consider the wealth gap to be more pernicious than the income gap, as it perpetuates from generation to generation and has a powerful effect on economic security and mobility. Young black people are much less likely than young white people to receive a large sum from their parents or other relatives to pay for college, start a business […]
Read moreAverage American Income
The average American’s income declined almost 1 percent in 2014, to $64,432.The income of the poorest fifth of the population fell by 3.5 percent, to $9,818, while the income of the wealthiest fifth rose by nearly 1 percent, to $166,048.
Read moreEight Men Who Are Doing Quite Well
A notice appeared in the paper recently with the names and faces of eight men who have a combined wealth of $426 billion. According to Oxfam International, in 2015 this would have equaled the amount of wealth held by half the world’s population, the poorest half. Oxfam International is a confederation of charitable organizations in 90 countries seeking to stop the injustices that […]
Read moreThe Befuddling Effect of Poverty
The strain of worrying constantly about making ends meet depletes poor people’s brainpower, making them more likely to make bad decisions that can perpetuate the cycle of poverty. In fact, Princeton University researchers conclude in a new study, just feeling poor can quickly knock 13 points off a person’s IQ.To determine how financial worries affect thinking, the researchers posed various […]
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