Building Wealth for Everyone
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BUILDING WEALTH
FOR EVERYONE
Kelly McGowan
Arizona Community Action Association
Poverty in Arizona
14.9%
1,068,576
of Arizonans
live in poverty
that's
people
33%
of single parents
24%
of children
9%
of seniors
live in poverty.
Poverty in Arizona
38.9%
of working families live on less than 200% of the federal poverty level (FPL)
7.6%
of Arizonans live in
extreme poverty
(income of less than $2 per day)
What does poverty look like?
Poverty
Deep Poverty
Extreme Poverty
$24,600 / year
$12,300 / year
$2,516 / year
for a family of four ....
$2,050 / month
$1,025 / month
$209 / month
Deep Poverty
Who is poor in Arizona?
Working-Aged
Men
Working-Aged Women
16.9%
14.2%
Who is poor in Arizona?
Is poverty a choice?
Is poverty a choice?
To answer this question,
we have to talk about:
income
inequality
wealth inequality
Income Inequality
top 1% average annual income: $784,469
poorest 25% average annual income: $23,640
Arizona
United States
top 1% average annual income: $1.15 million
top 10% average annual income: $295,845
poorest 90% average annual income: $34,481
Low-Wage Workforce
35% of workers earn less than 200% FPL
46.0% of jobs pay less than $15/hour
In Arizona
In the United States
10,600,000 families make less than 200% FPL
58.3% of jobs pay less than $15/hour
... do not earn a $15/hour wage in Arizona.
60.5% of
latinx workers...
49.8% of
black workers...
and 37.8% of
asian-american workers...
38.3% of
white workers...
Gender Wage Disparities
In Arizona
In the United States
median annual income for women: $37,966
median annual income for men: $46,386
30% of women earn less than 200% FPL, but
35.8% of black women earn less than 200% FPL, and
46.6% of latina or hispanic women earn less than 200% FPL.
women earn an average of $0.80 for every $1 earned by a white man, but
black women earn just $0.63, and
native american women earn only $0.57, while
latina or hispanic women earn a mere $0.54.
Wealth Inequality in the US
the top 1% of earners share 40% of the nation's wealth
from 1983 - 2013, members of Forbes "Fortune 400" list saw a net worth increase of 736%
since 1986, white wealth has grown 84%
since 1963, the poorest 10% of families in the US have seen a net worth decrease from an average of $0 to an average of -$1000
1 in 5 households has no assets or is in debt
Wealth Inequality in the US
percentage of private wealth owned by income category
it will take
for latinx family wealth
to match 2016 white family wealth
84 years
it will take
for black family wealth
to match 2016 white family wealth
228 years
Narratives are the stories we hear and retell about the way the world works.
They help us navigate culture, social systems, and questions of meaning.
what can we do?
Justice and Equity
economic justice
a set of principles for building economic institutions, the ultimate goal of which is to create an opportunity for each person to create a sufficient material foundation upon which to have a dignified, productive, and creative life beyond economics.
economic equity
distribution of assets, resources, and tax liability that is fair and just.
Building Economic Equity
ACAA is dedicated to developing policy and programs that address the systemic causes of poverty and increase access to economic opportunity
for all Arizonans
Living Wages
Employment
Practices
End Economic
Exploitation
Wealth Building
