Sunday, July 13, 2008

Yes, the rich are getting richer

While this evidence maybe good for seeing improvement it is still the richest 20% of people making most the money. In 2006, the median annual household income was $48,201.00 according to the Census Bureau. Census data also shows that 19.26% of all households had annual incomes exceeding $100,000. They are making twice as much as the middle class. The top 20% of Americans are making 5 times more then the lower class. Another sad point is that 12.3% of middle-class people's income declined in 2006 and they are living in poverty and the bottom.
And also, the top 6.37% of Americans are making one third of all the income in America.

So these facts, however positive they may seem to African Americans' economic improvement, they are masking that African Americans are still making just 60% of White Americans, and the continued economic inequality in America.
clipped from findarticles.com
For African Americans in households earning $100,000 or more annually, that rate increased to 7.4%, up from 6.5% of those polled, or 1.275 million, up from 1.089 million.
The number of households earning more than $100,000 annually increased to 12.7% or 16.31 million in 2001, up from 11.9% or 14.89 million people in 2000.
                                2000    2001
Overall Adults with
Household Incomes
of $75,000 22.6% 24.3%
African American Adults with
Household Incomes of $75,000 14.9% 16.5%
African American Adults
with Household Incomes
of $100,000 6.5% 7.4%
Overall Adults with
Household Incomes
of $100,000 11.9% 12.7%
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