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From this data, it is evident that in 1989 there was a discrepancy in the level of economic disparity; the extent of wealth inequality was significantly higher than income inequality. Recent research shows that many households, in particular, those headed by young parents (younger than 35), minorities, and individuals with low educational ...
The top 10% of wealthy Americans now control 60% of the nation’s wealth, while the poorer half of the country holds only 6%, according to a report from the Congressional Budget Office.
The United States has the greatest income disparity among developed nations. [1] However, the inequality indicators vary considerably from state to state. States that have a high concentration of skilled jobs, implement regressive tax policies, or have weaker worker protections in general tend to have greater income inequalities.
Their findings place the United States as the most unequal and ranks poorly on social and health problems among developed countries. [176] The authors argue inequality creates psychosocial stress and status anxiety that lead to social ills. [177] A 2009 study attributed one in three deaths in the United States to high levels of inequality. [178]
According to EIG, which uses US Census Bureau data to sort districts by economic well-being, roughly 52 million Americans live in a "distressed" zip code. That's up from 50 million in 2018 .
WASHINGTON (Reuters) -The inflation-adjusted wealth of white households in the U.S. grew faster than that of Black and Hispanic households from the start of 2019 through the third quarter of last ...
Closing the wealth gap is more difficult because a significantly larger number of white households traditionally have money in stocks and mutual funds. A separate Fed survey shows that as of 2022, about 65.6% of white households had investments in stocks, compared with 28.3% for Hispanic households and 39.2% for Black households.
The evidence of increasing economic disparity and volatility of family incomes is clear, particularly in the United States, as shown by the work of Thomas Piketty and others. [149] [150] [151] Commentators such as Martin Wolf emphasize the importance of economics. [152]