Latest Federal Reserve figures show widening wealth inequality, and it's much worse if you're not white

The Federal Reserve's just-published 2016 Survey of Consumer Finances reveals that income inequality is rising in the USA, with the top decile now controlling 77.1% of the nation's wealth; wealth that is increasingly retained through intergenerational bonds, meaning that wealth is apportioned by accident of birth rather than merit; and (unsurprisingly, given the foregoing), the browner you are, the less you have. (more…)

from Boing Boing http://ift.tt/2xLuWwZ
via IFTTT

Share on Google Plus

About Unknown

This is a short description in the author block about the author. You edit it by entering text in the "Biographical Info" field in the user admin panel.