Hart Cunningham Discusses Economic Inequality in America
More than 40 million Americans live in poverty, according to the 2016 US Census. Put in perspective, the collective wealth of 50% of the US population isn’t as much as that of just three men – Microsoft co-founder Bill Gates, Amazon founder Jeff Bezos, and Berkshire Hathaway CEO Warren Buffett.
Inequality on such a vast scale leads to devastating realities for lower and middle-class Americans. A recent Institute for Policy Studies report found that while the median American family has a net worth of $80,000, over 19 percent of households “have zero or negative net worth.” That inequality is disproportionate among households of color, as “over 30 percent of black households and 27 percent of Latino households have zero or negative net worth to fall back on.”
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