Gap broadens between the rich and poor:
The U.S. Census bureau delivered, on Thursday, the expected news. Last year, 1 in 7 Americans lived in poverty. That represents the highest rate, nationally, in more than 15 years. The total number of us, almost 44 million, living below the stringent federal poverty standard (about $22,000 a year for a family of four) was the highest in our history.
Massive differentials exist across both income levels and stages of life. Even high-income black households have demonstrably less wealth than comparable white families. And, for example, black heads of household between the ages of 50 and 65, preparing for retirement, report at the median about $17,000 in assets. Similarly staged whites, on average, have $143,000. And single black women fare much, much worse than single black men.