The rich get richer. Everybody else, not so much. The gap between the rich and every other income group in America has reached a record level, data from the Federal Reserve shows.
“In 2013, the median wealth of the nation’s upper-income families ($639,400) was nearly seven times the median wealth of middle-income families ($96,500), the widest wealth gap seen in 30 years when the Federal Reserve began collecting these data,” an analysis of the Fed’s figures by the Pew Research Center concluded.
“America’s upper-income families have a median net worth that is nearly 70 times that of the country’s lower-income families, also the widest wealth gap between these families in 30 years,” the report stated.