Wealth Gap Between Whites and Minorities Increases

Tuesday, July 26, 2011

The wealth gap between whites and minorities in the United States has ballooned to its largest ratios in decades, according to a new study by the Pew Research Center. Hispanics were the hardest hit in the recession, seeing their median wealth shrink 66 percent between 2005 and 2009, while white Americans only saw a dip of 16 percent.

Sabrina Tavernise, a reporter for our partner The New York Times, wrote about the study in today's paper. Carlos Saenz is among those Hispanic-Americans impacted by the recession. When he first spoke to The Takeaway in 2009, Sanez, a construction worker in Orlando, was unemployed for two years.

Comments [2]

Eugenia Renskoff from Brooklyn, NY

Hi, I would suggest giving more jobs to more people who can work. Eugenia Renskoff

Jul. 26 2011 03:13 PM
Peg from Southern Tier NY

If you took all of the millionaires and billionaires out of the wealth equation, then what would the difference be? Because most of the uber-wealthy are white - it really skews the data so that it appears that all whites are doing so much better than minorities.

Most Americans - no matter what racial background they come from- make less than 50 thousand per year. What is the breakdown for those who make less than 50thou? I bet it's a lot less than whites having 20 times the wealth of minorities.

I'd like to ask... How many of the low or no tax paying, Super Wealthy can normal Americans support?

Jul. 26 2011 07:08 AM

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