6 yrs into economic recovery: America’s wealth gap between middle-income and upper-income families is widest on record… ‘worse than South Africa Apartheid’
Investmentwatchblog.com
December 17th, 2014
Wealth gap in America widens to record level…
The wealth gap between middle- and upper-income households has widened to the highest level on record, says a new report.
Using the latest Federal Reserve data, the Pew Research Center said Wednesday that the median wealth for high-income families was $639,400 last year — up 7% from three years earlier on an inflation-adjusted basis.
For middle-income families, the median wealth — that is, assets minus debts — stood at $96,500 last year, unchanged from 2010.
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“The latest data reinforces the larger story of America’s middle-class household wealth stagnation over the past three decades,” Pew said. “The Great Recession destroyed a significant amount of middle-income and lower-income families’ wealth, and the economic ‘recovery’ has yet to be felt for them.”
The Rest…HERE
