Mean vs. Median
The median net worth is the value that is right in the middle of all of those numbers.
America has grown wealthier since the Great Recession. But that growth has been uneven.
Published on Wed, November 13, 2019 4:00PM PST | Updated Fri, September 25, 2020 9:35AM PDT
As a whole, American households have seen their net worth grow 58% from a low of $68 trillion, $577,000 per household, in the first quarter of 2009 to $107 trillion, $881,000 per household, in the second quarter of 2019, based on an inflation-adjusted dataset from the Federal Reserve.Nov 13, 2019. Other families—a diverse group that includes those identifying as Asian, American Indian, Alaska Native, Native Hawaiian, Pacific Islander, other race, and all respondents reporting more than one racial identification—have lower wealth than White families but higher wealth than Black and Hispanic families.
In the 2019 survey, White families have the highest level of both median and mean family wealth: $188,200 and $983,400, respectively (Figure 1). Black and Hispanic families have considerably less wealth than White families. Black families' median and mean wealth is less than 15 percent that of White families, at $24,100 and $142,500, respectively. Hispanic families' median and mean wealth is $36,100 and $165,500, respectively. Other families—a diverse group that includes those identifying as Asian, American Indian, Alaska Native, Native Hawaiian, Pacific Islander, other race, and all respondents reporting more than one racial identification—have lower wealth than White families but higher wealth than Black and Hispanic families. The same patterns of inequality in the distribution of wealth across all families are also evident within race/ethnicity groups; for each of the four race/ethnicity groups, the mean is substantially higher than the median, reflecting the concentration of wealth at the top of the wealth distribution for each group.
Way down here is where begins the Ghetto/Slum of Billionaires. I.e. this is where the richest Black Billionaire resides. Oprah is at number 327 with 2.6 Billion. Michael Jordan didn't make the list with only 1.6 Billion.
Fact - Those dumb-Ass Albinos in the "Heartland" are just fodder for the Machine. It's the rich Albinos - Like the Koch Brothers - who are the real problem. They get the dumb-Asses all riled up over some dumb shit, the dumb-Ass's then give their 20 dollars on top of the Millionaires/Billionaires millions to some dumb-Ass Republican who not only screws Blacks, but the dumb-Ass's too. But they don't care, as long as they can stop Blacks from getting, they seem satisfied with their lot in life. Same as their ancestors during the Civil War: they would suffer anything, as long as it kept Blacks down. Meanwhile today, the dumb-Ass's keep us pinned down, while the rich Albinos take all the money. Ya they keep the Albino rabble quiet by giving them a share, not a fair share, but a share. Meanwhile we get whatever is leftover after everyone else has eaten.
Sat, March 6, 2021, 11:04 AM
The Senate just passed the $1.9 trillion Covid relief bill—one of the biggest emergency spending packages in history, targeted to the poor and the middle class. But despite full Democratic control of Congress and the White House, it came with significant omissions from the wish list of Democratic priorities: no $15 minimum wage, lower jobless benefits, a tighter income limit for the checks. With just 50 senators and no Republicans crossing the line (zero republicans voted for this bill), President Joe Biden and his party had to bow to their most conservative members.
As with PPP1, the costs eligible for loan forgiveness in PPP2 include payroll, rent, covered mortgage interest, and utilities. PPP2 also makes the following potentially forgivable:
The new COVID-19 relief bill also:
Specifically, a borrower can receive forgiveness if a borrower signs and submits to the lender a certification that:
The SBA must create the simplified application form within 24 days of the bill's enactment and may not require additional materials unless necessary to substantiate revenue loss requirements or satisfy relevant statutory or regulatory requirements. Borrowers are required to retain relevant records related to employment for four years and other records for three years, as the SBA may review and audit these loans to check for fraud.
Provides $20 billion for additional $10,000 grants; repeals deduction of EIDL grants from the amount of loan forgiveness.