Half the population of the US has slipped into poverty or is barely making enough to get by.
How much will you need for medical expenses in retirement? What does it cost to keep 2.5 million Americans behind bars? Here are a few facts and figures that might surprise you.
1. Recovery for the rich, recession for the rest.
Economic recovery is in rather limited supply, it seems. Research by economist Emmanuel Saez shows that the top 1 percent has enjoyed income growth of over 11 percent since the official end of the recession. The other 99 percent hasn’t fared so well, seeing a 0.4 percent decline in income.
The top 10 percent of earners hauled in 46.5 percent of all income in 2011, the highest proportion since 1917 – and that doesn’t even include money earned from investments. The wealthy have benefitted from favorable tax status and the rise in stock prices, while the rest have been hit with a continuing unemployment crisis that has kept wages down. Saez believes this trend will continue in 2013.
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Larry James' Urban Daily
A repository of ideas, resources, commentary and opinions concerning the issues facing low-income residents of the inner cities of the United States and how mainstream America largely forgets or, worse, ignores the day-to-day realities of urban life for the so-called "poor." Written and edited by the President & CEO of CitySquare. Please visit CitySquare.
Today and throughout 2013, we need your support to continue our life-changing work in inner-city Dallas. Every day hundreds of our wonderful neighbors arrive at our doors seeking our assistance, offering their help and prepared to pursue a better life. Frankly, the folks we "serve" make essential contributions to the scope, nature and soul of the work we attempt. At CitySquare we honor and recognize the amazing value and richness of our low-income neighbors. During 2012, almost 55,000 different people received the benefit of our wide-ranging services designed to assist in the process of building better lives. We need your help TODAY as we continue to respond to the needs of our community. Even more, we need you to become our PARTNER in the work of compassion and community renewal--work that continues day after day at CitySquare.