Nov 21, 2011




The website TheGrio.com is doing a three part series into the people that comprise the black 1 percent. I'm sure it comes as a shock to no one that the majority of the black 1 percent gets their wealth from the entertainment and sports spectrum.

Blacks comprise 13.6 percent of the U.S. population according to the 2010 Census, but account for only 1.4 percent of the top 1 percent of households by income. Whites are the overwhelming majority of the top 1 percent of households by income, comprising 96.2 percent. (Results were calculated from 2007 data from the Federal Reserve's Survey of Consumer Finances and the Tax Policy Center's tax table, The income cutoff to be a part of the top 1 percent was $646,195.)

CLICK HERE TO READ THE ENTIRE ARTICLE.

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