How many people know that out of 150 countries, the United States have the fourth-highest wealth disparity? Only Zimbabwe, Namibia and Switzerland are worse. 93% of financial wealth is owned by the richest 20% of Americans.
The richest 1% have doubled their share of America's income in 30 years. From 1980 to 2006, the richest 1% actually tripled their share of after-tax income.
Only 4% of those raised in the bottom fifth make it to the top fifth as adults. Only about 20 percent even make it to the top half. 80% of black children who started in or near the top half of U.S. income levels experienced downward mobility later in life.
According to UNICEF, among industrialized countries only Romania has a higher child poverty rate than the United States. Just in the last 10 years the number of impoverished American children increased by 30%. While 12 percent of white children live in poverty, 35% of Hispanic children and 39% of black children start their lives below the poverty line.
For every dollar of non-home wealth owned by white families, people of color have only 1 cent. Median wealth for a single white woman is over $40,000. For black and Hispanic women it is a little over $100.
The richest 1% have doubled their share of America's income in 30 years. From 1980 to 2006, the richest 1% actually tripled their share of after-tax income.
Only 4% of those raised in the bottom fifth make it to the top fifth as adults. Only about 20 percent even make it to the top half. 80% of black children who started in or near the top half of U.S. income levels experienced downward mobility later in life.
According to UNICEF, among industrialized countries only Romania has a higher child poverty rate than the United States. Just in the last 10 years the number of impoverished American children increased by 30%. While 12 percent of white children live in poverty, 35% of Hispanic children and 39% of black children start their lives below the poverty line.
For every dollar of non-home wealth owned by white families, people of color have only 1 cent. Median wealth for a single white woman is over $40,000. For black and Hispanic women it is a little over $100.
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