TV News LIES

Wednesday, Dec 12th

Last update05:20:13 AM GMT

You are here News Economy Inequality Between America's Rich and Poor Is at a 30-Year High

Inequality Between America's Rich and Poor Is at a 30-Year High

E-mail Print PDF

economic inequality at 30 yr. highThere are many ways to compare finances, but perhaps a more holistic measure of financial health looks at household wealth, a comparison of what a family’s assets (home, cars, investments and bank accounts) are worth, versus what they owe. And when it comes to wealth, or net worth, the gap between the richest Americans and everyone else is at an historic high.

For the most part, it’s not necessarily that the rich are getting richer and the poor, poorer. Instead, the data shows that while the rich are seeing their assets grow and increase in value, the middle and lower-classes are seeing financial stagnation, creating a growing economic gulf.

According to a recent study from the Pew Research Center, which analyzed data from the Federal Reserve, the median net worth of upper-class families was almost seven-times as large as middle-class families: $639,400 compared to $96,500. That’s the largest the gap has been in the 30 years the Federal Reserve has been collecting such data. In 2007, right before the Great Recession, upper-class households had wealth that was about 4.6 times that of the middle class. In 1995, the gap was even smaller—with median, upper-class net worth equaling about 3.6 times as much as their median, middle-class counterparts.

The wealth discrepancy between upper-class and lower-class is also at its widest point in three decades, with lower-class families having a median net worth that is 70 times lower than the median net worth of upper-class families.

More...


Most Recent Related Stories...


Dow Jones drop adds to losses, weekly gloom for stock investors

Stocks falll again Stocks continued their brutal stretch of big price swings and steep declines Friday, capping a painful...

List of Lowe's stores closing: 20 stores will shut doors in US next year

20 Lowe's stores Lowe's will close 51 underperforming stores in North America, the company announced Monday. The move – which includes...

Trump on Coming Debt Crisis: ‘I Won’t Be Here’ When It Blows Up

Trump says he won't be prez when economy crashes Since the 2016 presidential campaign, Donald Trump’s aides and advisers have tried to convince him of...

The national debt and the federal deficit are skyrocketing. How it affects you

US debt and deficit are risingThe national debt is $21 trillion and counting. The federal deficit soared last year to $779 billion...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!