The gap between America’s upper-income and middle-income families has reached its highest level on record. In 2013, the median wealth of the nation’s upper-income families ($639,400) was nearly seven times the median wealth of middle-income families ($96,500).
The median wealth of white households was 13 times the wealth of black households and 10 times that of Hispanic households in 2013, compared with eight and nine times, respectively, in 2010.
A few critics have portrayed our report as an effort to foment a “generational war” over Social Security and Medicare. Let me respond.
Until the housing market and home equity levels fully recover, the typical American household still has a ways to go.
Despite large and persistent gaps between blacks and whites on virtually every indicator of economic well-being, about half of all whites say the average black person is about as well off financially or doing better than the average white person, according to a survey released last week by the Pew Research Center.
If you've ever woken up wondering "Is Bill Gates or Carlos Slim the world's richest person today?", Bloomberg's new visualization of data on the 100 richest billionaires is for you.
While the stock market has been surging, there is a big gap who who benefits that has implications for the strength of the economic recovery.