Economic Opportunities for Latinos
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“The argument is that inequality is bad for everyone, not just the middle class and the poor; 95 percent of the gains, the economic gains, since the recovery began in 2009 are going to the top 1 percent. Meanwhile, median household income keeps dropping, adjusted for inflation. Well, where are people going to get the money they need to keep the economy going?”
Former Labor Secretary Robert Reich
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The Senate Hispanic Caucus is concerned about growing income inequality. The clearest example of needed reform concerns predatory lending, where failed regulation has resulted in more payday lending stores than Starbucks and McDonalds combined in Texas and nationally. Beyond predatory lending reforms, there are a multitude of proposals that need exploring including labor and wage protections, wealth creation programs, and tax policy reforms.
For more information see:
www.cppp.org
http://inequalityforall.com/about-the-film/
www.stoppaydayabuse.org
www.paydayloans.org/payday-loans-vs-starbucks-vs-mcdonalds
www.workersdefense.org/programs-2/rap
http://tamacc.org/advocacy
Ethnic Diversity of the Population, Householders, and Labor Force in 1990 and 2030*
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* Projections are shown for the 1.0 scenario
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Latinos Face Major Income and Wealth Gap
Latino Median Household wealth $6,325 compared to $113,149 for Non-Latino White Household
Median Household Income 1999 – 2012
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In Texas, 66 percent of Latino children and 59 percent of Black children live in low-income families, compared to 25 percent of White children.