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Levy Rivers

Eugene Robinson - Two Black Americas - washingtonpost.com - 0 views

www.washingtonpost.com/...AR2008040303122.html

black poor race wealth

shared by Levy Rivers on 09 Apr 08 - Cached
  • Today, about 25 percent of African Americans are mired in poverty. In many ways, being black and poor is a more desperate and hopeless condition now than it was 40 years ago. For those who managed to enter the middle class, however, most of the old generalizations no longer apply.
  • On April 4, 1968, it was possible to make the generalization that being black in this country meant being poor; fully 40 percent of black Americans lived below the poverty line, according to census data, with another 20 percent barely keeping their heads above water.
  • But the gap in wealth, or net worth, is huge, even when you control for education, age, family size and whatever else you want to throw in. Still, African Americans control an estimated $800 billion in purchasing power. If that were translated into gross domestic product, a sovereign "Black America" would be the 15th- or 16th-richest nation on earth.
  • ...3 more annotations...
  • Then again, if "The Jeffersons" were being produced today, George and Louise probably wouldn't live in an apartment at all. More realistically, they'd be on a cul-de-sac in a suburban community. In Washington and a growing number of cities, more African Americans now live in the suburbs than within the city limits.
  • That's not to minimize the prospect that a nation midwifed by slavery could soon have its first black president. But O'Neal did something that would have been equally unimaginable 40 years ago. He rose to become chief executive of Merrill Lynch, one of Wall Street's biggest firms; by all accounts, he was a taskmaster of a boss who cared less about whether subordinates liked him than he did about the bottom line.
  • The African American poor are a smaller segment than they were 40 years ago, but arguably they are further from full participation in society than they were in King's era. It's not that they have no interest in climbing the ladder, it's that too many rungs are missin
Levy Rivers

Study shows gap growing between rich and poor - 0 views

www.businessweek.com/...D93UU9980.htm

gap income

shared by Levy Rivers on 21 Oct 08 - Cached
  • The United States has the highest inequality and poverty in the OECD after Mexico and Turkey, and the gap has increased rapidly since 2000, the report said. France, meanwhile, has seen inequalities fall in the past 20 years as poorer workers are better paid.
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