Racial Wealth Inequality In U.S | Political Report Cards

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Wealth Inequality

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RACIAL WEALTH INEQUALITY – IN U.S

According to Survey of Consumer Finances data, the median Black family has $24,100 in wealth. This is just 12.7 percent of the $189,100 in wealth owned by the typical White family. The median Latino family, with $36,050, owns just 19.1 percent of the wealth of the median White family.

Median Black family, with just over $3,500, owns just 2 percent of the wealth of the nearly $147,000 the median White family owns. The median Latino family, with just over $6,500, owns just 4 percent of the wealth of the median White family.

In 2019, Fortune 500 CEOs, who earned approximately $14.8 million on average, included just five Black people and 17 Latinx people — less than 5 percent of the total. By contrast, these groups made up 44.1 percent of the U.S. workers who would benefit from a raise in the federal minimum wage to $15 per hour by 2025, according to the Economic Policy Institute. Blacks and Latinos comprise 31.9 percent of the U.S. population.

Put differently, the median White family has 41 times more wealth than the median Black family and 22 times more wealth than the median Latino family. www.inequality.org

Dashboard 1

PEOPLE OF COLOR SCARCE AT TOP

Dashboard 1

RACIAL INEQUALITY

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2024

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