The Power of the Purse and the Polls

Nielsen Incomes Chart

While Rev. Jesse Jackson Sr., challenged corporate America once again to level the racial playing field when it comes to consumers, workers, and entrepreneurs at the 19th Annual Rainbow PUSH Wall Street Project Summit in New York this week, he also spoke to BlackEnterprise.com about how important it is right now for individuals, and the black community as a whole, to harness the power we already have.

[Related: Blacks in the U.S. Gaining Wealth and Education Faster Than Other Groups]

“We’ve given away power by voting less than we have and spending more than we have. That’s a suicidal formula,” says Rev. Jackson. “You must spend less than you make and vote as much as you can. That’s the right combination. Much of our middle class is a spending middle class. We over-extend ourselves. We don’t see the value of investing and saving and getting returns. We must harness our potential, and leverage it,” he adds.

Cheryl Pearson-McNeil, Nielsen’s senior vice president of U.S. Strategic Community Alliances and Consumer Engagement points out that black households, particularly those earning $100,000 or more are the fastest growing income groups in the country, and that the community can leverage …read more      

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