Wealth inequality in America is at record levels and minorities are being hit particularly hard, a new study shows.
Traders at the New York Stock Exchange in 2013.
Lucas Jackson / Reuters
The Pew Research Center crunched the numbers and revealed Wednesday that upper-income families have almost seven times as much wealth as middle-income families and 70 times as much wealth as lower-income families.
Pew found that 46% of American families fall into the middle tier, while about 33% are lower-income families. The remaining 21% are upper-income families.
A trader works on the floor of the New York Stock Exchange on July 31, 2013.
Lucas Jackson / Reuters / Reuters
The gap between the richest families in America and those on the middle and lower rungs of the economic ladder is wider than at any other point in the last 30 years — when the Fed began collecting the data Pew used for its research.
More specifically, Pew found that the wealthiest tier of Americans suffered less during the recession than others, and has made up the most ground since. By contrast, "middle-income families haven't seen any gains," according to Pew. Lower-income Americans actually have less wealth now than they did at any point since 1983.
from BuzzFeed - Latest http://ift.tt/1x2OqaH
