America's Broken Ladder

Thursday, May 7, 2015

The dirty secret of America in 2015 is that the wealth gap between whites and everyone else is far worse than most people would guess. A 2014 study by Duke University and the Center for Global Policy Solutions, a Washington-based consultancy, found that the median amount of liquid wealth (assets that can easily be turned into cash) held by African-American households was $200. For Latino households it was $340. The median for white households: $23,000.