Guardian - A new report calculates that median wealth for black Americans will fall to $0 by 2053, if current trends continue. Latino-Americans, who are also experiencing a sustained downward wealth slide, will hit $0 about two decades later, according to the study by Prosperity Now and the Institute for Policy Studies.
“By 2020, median black and Latino households stand to lose nearly 18% and 12% of the wealth they held in 2013 respectively, while median white household wealth increases by 3%,” the report states. “At that point – just three years from now – white households are projected to own 86 times more wealth than black households, and 68 times more wealth than Latino households.”
... The authors cite the legacy of discriminatory housing policies, an “upside down” tax system that helps the wealthiest households get wealthier, and the economic effects of mass incarceration as among the root causes for the discrepancy.
1 comment:
hard to beleive anything about the economy for 2073,. World will be very different.
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