America’s Rich at Widest Gap Ever from Other Income Groups

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.

Bloomberg