Middle Class Dream Eludes African American Families!

The Washington Post did an excellent article on how the middle class dream is seemingly eluding African American Families! Do you believe this to be true? Read an excerpt from the article below!

Nearly half of African Americans born to middle-income parents in the late 1960s plunged into poverty or near-poverty as adults, according to a new study — a perplexing finding that analysts say highlights the fragile nature of middle-class life for many African Americans.

Overall, family incomes have risen for both blacks and whites over the past three decades. But in a society where the privileges of class and income most often perpetuate themselves from generation to generation, black Americans have had more difficulty than whites in transmitting those benefits to their children.

Forty-five percent of black children whose parents were solidly middle class in 1968 — a stratum with a median income of $55,600 in inflation-adjusted dollars — grew up to be among the lowest fifth of the nation’s earners, with a median family income of $23,100. Only 16 percent of whites experienced similar downward mobility. At the same time, 48 percent of black children whose parents were in an economic bracket with a median family income of $41,700 sank into the lowest income group.

This troubling picture of black economic evolution is contained in a package of three reports being released today by the Pew Charitable Trusts that test the vitality of the American dream. Using a nationally representative data source that for nearly four decades has tracked people who were children in 1968, researchers attempted to answer two questions: Do Americans generally advance beyond their parents in terms of income? How much is that affected by race and gender?

“We are attempting to broaden the current debate” beyond the growing gap between higher- and lower-income Americans, said John Morton, Pew’s managing director for program planning and economic policy. “There is little out there on the question of mobility across generations, and we wanted to examine that.”

Read the Entire Article at The Washington Post