Inequality” has become a rallying cry for those discontent with the state of the US economy, fueling campaigns to raise wages and incomes. But one of the most extreme forms of economic inequality has attracted far less attention: the wealth gap. If income is what you need to get by today, then wealth is your economic future — home equity, a retirement portfolio, a college savings plan. Lower-income Americans and minorities have been shut out of the housing recovery and are far less likely to be invested in the rebounding stock market. As a result, the wealth gap has gotten even worse: White Americans now have 13 times the wealth of black Americans, according to a new Pew study — the biggest divide since 1989.
Posted on: Tue, 30 Dec 2014 23:23:28 +0000
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