First lady Jill Biden and President Joe Biden released their 2021 tax returns Friday, revealing their income during their first year in the White House.
Households of color accumulate less wealth than non-Hispanic white households, and they own less taxable investment accounts, according to a Financial Industry Regulatory Authority (FINRA) Investor Education study completed in September.
Recent reports have shown that the American middle class has been bested, and they are no longer the wealthiest among their global peers. The report documents the plummet of the American middle class, large pay disparities, and unbalanced distribution of wealth. The after-tax middle class income in Canada is higher than American wages. In addition, European low-income residents earn more than American low-income residents.
