News

  • February 08, 2016 | Alabama.com

    Why Black Wealth Matters

    If you are just catching up, we have begun a five-part Black History Month series that focuses on the key issues affecting the progression of the black community in our state and in our country.

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  • February 01, 2016 | New York Times

    Black America and the Class Divide

    The economic gap within the African-American community is
    one of the most important factors in the rise of Black Lives
    Matter, led by a new generation of college graduates and students.

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  • February 01, 2016 | Next City

    How Your Neighborhood Affects Your Sense of Financial Security

    The typical low-income household in a high-poverty neighborhood has only $800 in accumulated wealth. A household with a similar income in a wealthier neighborhood has $35,000 in accumulated wealth — more than 40 times that amount. The latter’s also more likely to be a homeowner and have checking...

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  • November 15, 2015 | New York Times

    Blacks Are Challenged to Buy From Black-Owned Businesses to Close Gap

    CHICAGO — Should black people go out of their way to patronize black-owned business?

    Maggie Anderson says they should. In 2008, with the economy in the middle of the worst downturn since the 1930s, Ms. Anderson enlisted her husband and two daughters in a yearlong plan to consume goods and...

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  • September 22, 2015 | Huffington Post

    Wealth Gap Widens Along Race Lines

    The Great Recession took quite a toll on the average American's net worth. A combined fiscal crisis and plummeting home values chopped off almost 40 percent of the median net worth of U.S. households, from $135,700 in 2007 to $82,300 in 2010 (expressed in 2013 dollars). Since that time, a slow...

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  • September 22, 2015 | The New York Times

    Education Gap Between Rich and Poor Is Growing Wider

    The wounds of segregation were still raw in the 1970s. With only rare exceptions, African-American children had nowhere near the same educational opportunities as whites.

    The civil rights movement, school desegregation and the War on Poverty helped bring a measure of equity to the playing field....

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  • September 20, 2015 | The Hill

    Reforming the Earned Income Tax Credit: A Fairer Way Forward

    The Earned Income Tax Credit has provided tax relief and assistance for working families since being signed into law by President Gerald Ford in 1975 with bipartisan support in Congress. A decade later, with support from Democrats in Congress, President Ronald Reagan significantly expanded the...

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  • September 14, 2015 | The Atlantic

    The Black Family in the Age of Mass Incarceration

    By his own lights, Daniel Patrick Moynihan, ambassador, senator, sociologist, and itinerant American intellectual, was the product of a broken home and a pathological family. He was born in 1927 in Tulsa, Oklahoma, but raised mostly in New York City. When Moynihan was 10 years old, his father,...

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  • September 04, 2015 | Forbes

    Fix The Tax Code Friday: Tightening Up The EITC

    H&R Block, the nation’s top ranked tax preparation company, was painted in an even more unfavorable light this week when it was heavily criticized for its role in writing the new rules for the Earned Income Tax Credit (EITC). The EITC is a refundable federal income tax credit targeted to low to...

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  • September 01, 2015 | New America Media

    Hidden Poor Highest Among Elder Black and Latino Households

    Nearly one in five adults over age 65 in California, that is, around 772,000 elders, endure financial hardship, unable to afford basic needs, but often ineligible for government assistance, according to a new study out this week by the UCLA Center for Health Policy Research.

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  • August 13, 2015 | Next City

    New Orleans’ New Normal Is Leaving Many Residents Farther Behind

    Ten years after Hurricane Katrina and five years after the Deepwater Horizon oil spill, there’s evidence pointing to a healthy New Orleans economy. Job growth is steady; entrepreneurship is climbing; traffic through Louis Armstrong International airport is up 22 percent compared to 2008, a...

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  • August 11, 2015 | Washignton Post

    This is how protesters plan to take on the Federal Reserve

    Main Street activists and community groups plan to turn up the pressure on the Federal Reserve at an annual conference of the economic elite this month, in hopes of convincing the central bank to maintain its support of the American recovery.

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  • July 30, 2015 | The Hill

    Turning the EITC into an emergency savings tool for low-wage workers

    “Thank God for tax season!” says Debra McKinley, a restaurant worker in Boston who relies on her tax refund – particularly the Earned Income Tax Credit (EITC) – to catch up on bills, afford a special treat for her daughter’s birthday and put a little savings aside for emergencies. But it’s...

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  • July 30, 2015 | The Hill

    Turning the EITC into an emergency savings tool for low-wage workers

    “Thank God for tax season!” says Debra McKinley, a restaurant worker in Boston who relies on her tax refund – particularly the Earned Income Tax Credit (EITC) – to catch up on bills, afford a special treat for her daughter’s birthday and put a little savings aside for emergencies. But it’s...

    | Read more >
  • July 27, 2015 | CNN Money

    America: More diverse, less wealthy

    The numbers seem to tell a pretty clear story. The typical American family is poorer than it was 25 years ago.

    Median family wealth has dropped to $81,450, a nearly 5% decline since 1989, according to data compiled by the Federal Reserve Bank of St. Louis.

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  • July 22, 2015 | NBC News

    Three in 10 Americans Have No Savings, Says Survey

    Almost three in 10 Americans say they have no emergency savings, according to a survey just released by Bankrate.com.

    That's the highest number since Bankrate began tracking savings five years ago, and the culprit is a lag in income growth, which has failed to increase even as stocks and home...

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  • July 22, 2015 | CNN Money

    Hillary Clinton: Workers should get bigger piece of company profits

     Hillary Clinton thinks the government could help workers get more of a leg up.

    In a speech Monday she said she'd like the federal government to "encourage" companies to offer profit-sharing plans to employees.

    "Hard-working Americans deserve to benefit from the record corporate earnings they...

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