5 alarming stats on U.S. economic inequality from this Pulitzer-prize winning author's new book
"Most families who enjoy those subsidies have six-figure incomes and are white," Desmond writes. "Poor families lucky enough to live in government-owned apartments often have to deal with mold and even lead paint, while rich families are claiming the mortgage interest deduction on first and second homes."In his book, Desmond, analyzing data from the U.S. Census Bureau and other sources, reports that 1 in 18 people in the U.S.
"There is growing evidence that America harbors a hard bottom layer of deprivation, a kind of extreme poverty once thought to exist only in faraway places of bare feet and swollen bellies," Desmond writes.Looking at the work of other authors and Federal Reserve data, Desmond found that the racial wealth gap is as wide today as it was more than five decades ago.
"Our legacy of systematically denying Black people access to the nation's land and riches has been passed from generation to generation," he writes.
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