America’s Widening Wealth Gap

Source: Diane Rehm Show, July 28, 2011

America is facing its largest wealth disparity in a generation, and it’s pushing minorities to the economic margins. That’s the finding of a new study by the Pew Research Center. The median wealth of whites is now twenty times that of black households and eighteen times that of Hispanic households. And though the recession cut across all races and ethnicities, Hispanics were especially hard hit. Hispanic families accounted for the largest single decline in wealth in the last few years. And when you add skyrocketing pay for CEOs, and increasing assets for those at the very top income brackets, you’ve got a record high divide between the rich and the poor. A look at what’s behind our country’s growing wealth gap.

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