Blacks Affected by Income Inequality at Record High
Top 1 percent of earners collect 19.3 percent of income.
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Income Inequality - The U.S. income inequality rate has been growing for the past three decades. A new report indicates that the income inequality rate hit a record high in 2012 with the top 1 percent of U.S. earners taking home 19.3 percent of the household income. With the line between the rich and the poor steadily widening, what does this mean for African-Americans? – Dominique Zonyéé (Photos from left: REUTERS/Lee Celano, Frank Casimiro/Getty Images)
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Who Are the 1 Percent? - The 1 percent who make up the top household income U.S. earners are executives and entrepreneurs, according to the study. They are classified as the “working rich,” with an annual pretax income above $394,000 last year. (Photo: moodboard/Getty Images)
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Blacks in the 1 Percent - African-Americans make up 13.6 percent of the U.S. population, but account for 1.4 percent of the top 1 percent of households by income. Whites are the overwhelming majority of the top 1 percent of households by income, comprising 96.2 percent. (Photo: Hal Bergman/Getty Images)
Photo By Photo: Getty Images/STOCK
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Being at the Top Does Not Mean You Are on Top - Top-earning Black households had a median income of $823,000 in 2011. A whopping 22 percent less than whites and considerably less when compared to Latinos. (Photo: Ariel Skelley/Getty Images)
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The Rich Get Richer - In the last three years, 95 percent of all income gains have gone to the richest 1 percent. (Photo: Mark Scott/Getty Images)
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1 Percent Suffers, But at What Cost? - The richest Americans were hit hardest by the 2009 financial crisis, according to the report. Incomes among the richest 1 percent fell more than 36 percent between 2007-09, compared with a decrease of 11.6 percent for the rest of nation. (Photo: Ron Chapple/Getty Images)
