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Disproportionate Levels of Poverty for Minorities Make Them More Dependent on Social Security in Old Age. Minorities Need A Caregiver Credit Most!
By Melody Webb (April, 2003)
Minority mothers depend more heavily upon the progressive benefit formula of
Social Security than whites. Social Security supplies a higher return in
benefit levels relative to their contribution for lower and moderate wage
earners than it does for higher wage earners.
Social Security provides the primary income support for African American and Hispanic women for reasons that include elderly African American and Hispanic mothers enjoy less private pension and asset income than their white counterparts and minority women disproportionately garner lower and moderate wages than their white counterparts.
Social Security provides the primary income support for African American and Hispanic women for reasons that include elderly African American and Hispanic mothers enjoy less private pension and asset income than their white counterparts and minority women disproportionately garner lower and moderate wages than their white counterparts.
Social Security supplies a larger percentage of the retirement income for older African Americans, nearly 45% in 2000 and nearly 50% for elderly Hispanics than it does for older whites (approximately 35%). SSA
When those with income between the poverty line and 125% of the poverty line (the near poor) are included, the rates for nonmarried persons and minorities range from 24% to 31%.(SSA)
The general elderly population experienced poverty at the rate of 22% and 9% for African Americans poor and near poor (those within 125% of the poverty line); 19 and 12% for Hispanics and 9 and 7% for whites.
The median income of elderly African Americans is 12,333 Hispanics, 10544 for African Americans and for whites 1979 (SSA 2002)
copyright (c) 2003 Melody Webb. All rights reserved.