The State With The Most Rich People Also Has The Highest Poverty Rate  http://www.huffingtonpost.com/2013/11/14/california-inequality_n_4277548.html?ir=Business#next_slideshow

Kathleen Miles Become a fan

Kathleen.Miles@huffingtonpost.com

 

The State With The Most Rich People Also Has The Highest Poverty Rate

Posted: 11/15/2013 4:54 pm EST  |  Updated: 11/15/2013 5:12 pm EST

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California Economic Inequality, California Inequality, California Poor, Income Inequality, U.S. Wealth, U.S. Economic Inequality, U.S. Poverty, California Immigrants, California Poverty, California Rich, California Wealthy, Immigrant Voters, U.s. Inequality, Wealth Gap, Business News

California has both the most ultra-wealthy individuals and the highest poverty rate of any U.S. state, according to recent reports. "This chasm is growing day by day, year by year," Larry Gerston, professor of political science at San Jose State University, said to The Huffington Post. "Those at the top in California are just as happy as a clam. Their incomes are going up much faster than anyone else's." In 2013, the Golden-for-some State was home to the most -- 12,560 -- ultra-wealthy individuals, according to a new report by Wealth-X, a think tank focusing on wealthy people. New York had the second most, with 8,945 ultra-wealthy individuals. Wealth-X defines ultra-wealthy as having a net worth of at least $30 million. California gained even more ultra-wealthy individuals in 2013 than any other state, adding an additional 1,605 residents. Florida gained the second most, an additional 565 more than in 2012. But California also has the highest poverty rate in the nation, according to an analysis released Wednesday by the U.S. Census Bureau. Nearly one in four Californians -- about 24 percent of the overall population -- lives in poverty. Behind California, the District of Columbia and Nevada have the second and third highest poverty rates, according to the analysis. Across the U.S., about 16 percent of Americans live in poverty. The census analysis considered income, government benefits, taxes and cost of living. The official poverty threshold for a two-adult-two-child family was $23,283 in 2012. Around the Web: California still leads U.S., including in inequality | Reuters If CA a template for U.S. on income inequality, U.S. is doomed ... income inequality has grown in california - Center on Budget and ... California Goes Feudal - The Daily Beast California jobs report underscores deepening inequality - World ... Capitol Alert: California has a high level of income inequality - Blogs Stanford Center on Poverty and Inequality - Stanford University The Stanford Center on Poverty and Inequality - California Poverty ... Capitol Alert: Study finds California high in family-income inequality Striking it Richer: The Evolution of Top Incomes in the United States ...  http://www.huffingtonpost.com/2013/11/14/california-inequality_n_4277548.html?ir=Business#next_slideshow