AMERICA DESPERATELY NEEDS A PRESIDENT SANDERS OR WARREN IF SHE IS DRAFTED!
FACT: Bottom 10% went from $0 Wealth (1963) to -$2,000 debt (2013)
FACT: Top 10% Wealth nearly 4 TIMES HIGHER (1963 to 2013)
FACT: Top 1% Wealth up 6 TIMES HIGHER (1963 to 2013)
FACT: Cause for growing wealth gap = Rising income inequality.
New Report = RICH GETTING RICHER
New Report = POOR AND MIDDLE CLASS GETTING POORER
New Report = WEALTH GAP GROWING
Source: Urban Institute 1963 to 2013
FACT: Families of color continue to fall behind white counterparts
FACT: 2013 avg wealth of white families = $500,000 higher than wealth of black and Hispanic families.
FACT: White families average 7 TIMES wealth of black families
FACT: White families average 6 TIMES wealth of Hispanic families
FACT: While in their 30s white Americans = 3 TIMES wealth of blacks
FACT: At age 60 white wealth = 11 times wealth of blacks
FACT: Poor have a hard time saving
FACT: Blacks and Hispanics = 25% less likely to own a home
FACT: Black families have more student loan debt than white
FACT: 42% of Black (25 to 55) had student loan debt vs 28% whites
FACT: Fed GOV Increases Inequality = spent $384 Billion/Year = High-Income family asset development
FACT: 66% of homeownership tax subsidies + retirement subsidies go to Top 20% of taxpayers vs 1% to bottom 20% = Blacks and Hispanics
FACT: Many Lower income families qualify for safety net programs = Requires families have near ZERO savings or subsidies are dropped = ANTI-SAVING
FACT: Wealth gap paints a bleak picture of America = Getting Worse
New Report = Since “the one percent…who benefit from these disparities run the government, it’s unlikely that things will change, and the problem will only continue to get worse.”