Minorities Depend Disproportionately on Social Security

An interesting new report points out the reasons minority populations depend disproportionately on Social Security. The report’s bottom-line message is that Social Security is a more critical safety net for minority Americans, who tend to be poorer and more vulnerable to economic fluctuations than their white counterparts. To be sure, by 2070, economic mobility and security for minorities in the United States could improve significantly, giving them more assets and income outside Social Security in their old age. But Rockeymoore points out, the economic crisis has exacerbated the race gap in wealth and income, which have persisted over many decades. And though benefits are given out according to a progressive formula, Social Security hasn’t been that effective at redistributing wealth from rich to poor households. Full article here: