Page 10
Minority & Small Business Week
New Prices
Effective
April 1, 2017
October 4, 2017
O PINION
Martin
Cleaning
Service
Carpet & Upholstery
Cleaning
Residential &
Commercial Services
Minimum Service CHG.
$50.00
A small distance/travel
charge may be applied
CARPET CLEANING
2 Cleaning Areas or more
$30.00 each Area
Pre-Spray Traffic Areas
(Includes: 1 small Hallway)
1 Cleaning Area (only)
$50.00
Includes Pre-Spray Traffic Area
(Hallway Extra)
Stairs (12-16 stairs - With
Other Services) : $30.00
Area/Oriental Rugs:
$25.00 Minimum
Area/Oriental Rugs (Wool) :
$40.00 Minimum
Heavily Soiled Area:
$10.00 each area
(Requiring Extensive Pre-Spraying)
UPHOLSTERY
CLEANING
Sofa: $69.00
Loveseat: $49.00
Sectional: $109 - $139
Chair or Recliner:
$25.00 - $49.00
Throw Pillows (With
Other Services) : $5.00
ADDITIONAL
SERVICES
• Auto/Boat/RV Cleaning
• Deodorizing & Pet
Odor Treatment
• Spot & Stain
Removal Service
• Scotchguard Protection
• Minor Water Damage
Services
SEE CURRENT FLYER
FOR ADDITIONAL
PRICES & SERVICES
Call for Appointment
(503) 281-3949
Inequality is Hollowing Out the Middle Class
Wealth gap a
threat to racial
progress
by D eDriCk a sante -
M uhaMMaD anD C huCk
C ollins
America’s middle class is under
assault.
Since 1983, national median
wealth has declined by 20 percent,
falling from $73,000 to $64,000 in
2013. And U.S. homeownership
has been in a steady decline since
2005.
While we often hear about the
struggles of the white working
class, a driving force behind this
trend is an accelerating decline
in black and Latino household
wealth.
Over those three decades, the
wealth of median black and Lati-
no households decreased by 75
percent and 50 percent, respec-
tively, while median white house-
hold wealth actually rose a little.
As of 2013, median whites had
$116,800 in wealth — compared
to just $2,000 for Latinos and
$1,700 for blacks.
This wealth decline is a threat
to the viability of the American
middle class and the nation’s over-
all economic health. Families with
more wealth can cover emergencies
without going into debt and take ad-
vantage of economic opportunity,
such as buying a home, saving for
college, or starting a business.
We looked at the growing racial
wealth gap in a new report for the
Institute for Policy Studies and
Prosperity Now.
We found that if these appall-
ing trends continue, median black
household wealth will hit zero by
2053, even while median white
wealth continues to climb. Latino
net worth will hit zero two decades
later, according to our projections.
It’s in everyone’s interest to
reverse these trends. Growing ra-
cial wealth inequality is bringing
down median American middle
class wealth, and with it shrinking
the middle class — especially as
Americans of color make up an
increasing share of the U.S. pop-
ulation.
The causes of this racial wealth
divide have little to do with indi-
vidual behavior. Instead, they’re
the result of a range of systemic
factors and policies.
These include past discrimina-
tory housing policies that continue
to fuel an enormous racial divide
in homeownership rates, as well
as an “upside down” tax system
that helps the wealthiest house-
holds get wealthier while provid-
ing the lowest income families
with almost nothing.
The American middle class was
created by government policy,
investment, and the hard work of
its citizenry. Today Americans are
working as hard as ever, but gov-
ernment policy is failing to invest
in a sustainable and growing mid-
dle class.
To do better, Congress must
redirect subsidies to the already
wealthy and invest in opportuni-
ties for poorer families to save and
build wealth.
For example, people can cur-
rently write off part of their mort-
gage interest payments on their
taxes. But this only benefits you if
you already own a home — an op-
portunity long denied to millions
of black and Latino families —
and benefits you even more if you
own an expensive home. It helps
the already rich, at the expense of
the poor.
Congress should reform that
deduction and other tax expendi-
tures to focus on those excluded
from opportunity, not the already
have-a-lots.
Other actions include protect-
ing families from the wealth strip-
ping practices common in many
low-income communities, like
“contract for deed” scams that can
leave renters homeless even after
they’ve fronted money for expen-
sive repairs to their homes. That
means strengthening institutions
like the Consumer Financial Pro-
tection Bureau.
The nation has experienced 30
years of middle class decline. If
we don’t want this to be a perma-
nent trend, then government must
respond with the boldness and in-
genuity that expanded the middle
class after World War Two — but
this time with a racially inclusive
frame to reflect our 21st century
population.
Dedrick
Asante-Muhammad
directs the Racial Wealth Divide
Project at Prosperity Now and
Chuck Collins directs the Pro-
gram on Inequality at the Institute
for Policy Studies.