Study: Wealth Gap Creates Two Americas

by

comment

A staggering study on wealth in America was released today, indicating a growing gap between the haves and the have-nots, usually represented by the color of their skin.

According to the study published by the Pew Research Center, the median wealth of white U.S. households in 2009 was $113,149, compared with $6,325 for Hispanics and $5,677 for blacks. Those ratios, roughly 20 to 1 for blacks and 19 to 1 for Hispanics, far exceed the low mark of 7 to 1 for both groups reached in 1995.

The study also found that about 35 percent of black households and 31 percent of Hispanic households had zero or negative net worth in 2009, compared with 15 percent of white households.

"It's a very stark reminder of the high share of minorities who live at the economic margins of this country," said Paul Taylor, executive vice president of the Pew Research Center. "These data really show their economic vulnerability."

median_net_worth.jpg

Tags

Add a comment

Note: Comments are limited to 200 words.