NYC’s Wealth Statistics: The 1%

homeless-new-yorker-city

To be in the wealthiest 1% of New York City residents, you must have an annual income of at least $713,706.

According to NBC News, “In a city of nearly 9 million people, just 38,002 [New York City] tax filers are in the 1%.

Here are some more interesting statistics regarding the wealth of New Yorkers:

  • The average personal income tax paid by New York City’s wealthiest 1% is $107,153.
  • In 2016, 25,230 New Yorkers made more than $1,000,000 in personal income.
  • In 2016, 1,412 New Yorkers had a personal income of at least $10,000,000.

Note that being a part of the top 1% of earners in New York City requires a much greater income than it does to be a part of the top 1% nationally.  Being in the top 1% of earners nationally requires an annual income of $421,926.

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There Are More Homeless Children In NYC Than There Are People In Albany

Kingsbridge High School

  • New York City public schools have 114,659 homeless students; a record high.
  • “New York City has one of the highest populations of homeless students of any big city in America.”
  • “There are more homeless students in New York City than people in Albany.”
  • “At 144 [New York City] public schools, a third of the children are homeless.”
  • “Tonight, about one out of every 10 students in New York City will sleep in a homeless shelter or in the homes of relatives.”
  • Last year was the third consecutive year the number of homeless New York City public school students exceeded 100,000.
  • “For every 1,660 homeless students, there’s roughly 1 social worker.”
  • “Some students have to travel through two or more boroughs to reach school from their shelters; only about half of the city’s homeless families lived in a shelter in the same borough where their youngest child attended school last year.”
  • District 10 in the Bronx has the most homeless children out of the city’s 32 districts.  It has 10,804 homeless students.
  • District 10 “includes Kingsbridge International High School, where about 44 percent of the students who attended the school over the last four years were homeless at one point.”
  • “Last year, students living in a shelter missed an average of about 30 days in the school year.”
  • Due to living challenges, homeless students are more likely to struggle at school.  In New York City, “in the 2015-16 school year, just 12 percent of students living in shelters passed the state math exam, and 15 percent passed English.”

[SOURCE: The New York Times]

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New York City’s Affordable Housing Crisis

homeless-new-yorker-city

Last week, New York City’s Comptroller Scott Stringer released “The Gap is Still Growing: New York City’s Continuing Housing Affordability Challenge” report. This report is a study of the state of housing in New York City.

According to AM NY: “The analysis found the city experienced a net loss of more than 425,000apartments renting for $900 or less from 2005 to 2017.”

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World’s Richest Person Creates $2 Billion Fund To Help Homeless

Jeff Bezos

Jeff Bezos, who is said to currently be the world’s richest person, has reportedly created a $2 billion fund to help homeless families.

According to Bloomberg News: “The Bezos Day One Fund will focus on two initiatives…The first will fund existing nonprofits and issue annual awards to organizations doing ‘compassionate, needle-moving work’ to shelter and support the immediate needs of young families. The second will operate a network of high-quality, full-scholarship Montessori-inspired preschools.”

According to Inc., Jeff Bezos has a net worth of $163 billion. He is Amazon’s largest stockholder, owing 16% of the company’s shares, and the owner of The Washington Post.

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A Federal Court Rules That It Could Be A Constitutional Violation To Arrest Homeless For Sleeping Outdoors

8th amendment

This week, the 9th U.S. Circuit Court Of Appeals ruled that prosecuting homeless people for sleeping outside might be a violation of the United States Constitution’s Eighth Amendment, which bars cruel and unusual punishment.

According to U.S. News, the Portland, Oregon- based appeals court stated that when homeless shelters had too few beds, “sitting, lying and sleeping on the streets was an ‘unavoidable consequence’ of homelessness, and it would be an Eighth Amendment violation for cities to punish that conduct when their shelters had too few beds.”

The court also stated that : “As long as there is no option of sleeping indoors, the government cannot criminalize indigent, homeless people for sleeping outdoors, on public property, on the false premise they had a choice in the matter.”

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HUD Sues Facebook For Discriminatory Housing Ads

HUD

The Department of Housing and Urban Development filed a legal complaint against Facebook stating that the social media network allows landlords and home brokers to place ads on their site based on “gender, disability, religion, and physical location.” [SOURCE: Newsy]

HUD states that this is violation of The Fair Housing Act, which “prohibits discrimination in housing transactions including print and online advertisement on the basis of race, color, national origin, religion, sex, disability, or familial status.”

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NYCHA’s Lead Poisoning Lawsuit, Including City Officials, Moves Forward

NYCHA

Earlier this week, a Manhattan federal judge decided that Mayor de Blasio will not be disjoined from a lawsuit concerning lead-paint poisoning of residents of New York City’s public housing. According to the New York Post: “Judge William Pauley ruled that de Blasio must face the suit alleging that NYCHA poisoned children through repeated failures to fix dangerous lead-paint conditions in its apartments- and then lied to federal regulators about required inspections.”

The New York Post also states that the other defendants in the lawsuit include: NYC’s deputy mayors, the former New York City Public Housing’s Chairwoman, who resigned in 2017 due to the lead-paint cover-up fiasco, and other city officials and ex-NYCHA employees.

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