From 2000 to 2015, the state lost nearly 800,000 residents with incomes near or below the poverty line. Nearly three-quarters of those who left California since 2007 made less than $50,000 annually. The leading destination for California’s poor? Texas.
Apple, Alphabet (parent of Google) and Facebook generated $333 billion of revenue combined last year with 205,000 employees worldwide. In 1993, three of the most successful, technologically oriented companies based in the Northeast — Kodak, IBM and AT&T — needed more than three times as many employees, 675,000, to generate 27 percent less in inflation-adjusted revenue.
Because of rising housing costs and stagnant wages, slightly more than half of all poor renting families in the country spend more than 50 percent of their income on housing costs, and at least one in four spends more than 70 percent. Yet America’s national housing policy gives affluent homeowners large benefits; middle-class homeowners, smaller benefits; and most renters, who are disproportionately poor, nothing.
America is getting richer every year. The American worker is not. Far from it: On average, workers born in 1942 earned as much or more over their careers than workers born in any year since, according to new research — and workers on the job today shouldn’t expect to catch up with their predecessors in their remaining years of employment.
This near-absence of racial diversity means that racism is largely left out of Utah’s conversations about economic inequality. That leads to some conversations around inequality that would be unbearably fraught elsewhere. When the poor people are, by and large, the same race as the richer ones, people find it easier to talk about them ... as folks who may have made some mistakes and started with some disadvantages, but also as folks who could be self-sufficient after a little help
California's housing-supply slump has driven home prices to levels unseen since 2007, before the dawn of the financial crisis. The current median home value in California is just under $490,000, up nearly 7% from this time last year and more than twice the national median. Homeownership in the state is at a 70-year low ... And cities that were once considered the West's more affordable big markets, like Denver, Portland, and Seattle, are now experiencing some of the fastest-rising rents
Pay-to-stay jail assignments make up only a small fraction of the tens of thousands of inmates sent to detention centers in Southern California each year. But allowing some defendants to avoid the region’s notoriously dangerous county jails has long rankled some in law enforcement who believe it runs counter to the spirit of equal justice ... A racial breakdown of pay-to-stay participants could not be determined because complete data were unavailable.
less selective schools that accept a large number of students from low-income backgrounds...help them climb the income scale. They include schools like the City College of New York, or Cal State Los Angeles, or University of Texas Pan American... All three of those schools took more than a fifth of their students from the bottom fifth of the income scale, and all three are in the top 10 schools ranked by the share of students who move up two or more income quintiles.
children born in 1940 in California had a roughly 90 percent chance of making more money than their parents did around the age of 30 ... Californians born in 1980 stand less than a 50 percent chance of making more than their parents ... California mirrors the national pattern in income mobility very closely.Nationwide, only 50 percent of Americans born in 1980 were out-earning their parents at the age of 30. That percentage has ticked up a bit in subsequent years, but not by much.
The race to repeal Obamacare by President-elect Donald Trump and the Republican Congress will have one immediate side effect beyond any doctor's office: a large tax cut for the wealthiest Americans....averaging $7 million for each of the 400 highest-earning taxpayers, according to new calculations by the liberal Center on Budget and Policy Priorities using Internal Revenue Service data.