Wealth Gap Affects Recovery

The US economy continues to recover from the Great Recession. The recovery, though, reflects the inequality in wealth. All wealth classes had decreased net worths, but only the wealthy have seen an increase (7%) over the pre-recession levels. Middle class has returned to the same level, and the lower class has seen a drop (11%). Phrase that as the rich get richer and the poor get poorer, or as increasing wealth inequality, it argues against the philosophy that a rising tide lifts all boats. One consequence of the recession is that every class is reducing debt, but the poorer a person is, the more likely their assets fell more than their debt.

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“Wealth Gap Between Middle-Income And Upper-Income Reaches Record High” – Pew Research