Unlike income inequality, wealth inequality along racial lines in the US has received relatively little attention. New evidence on the changing landscape of relative wealth among whites, blacks, and Hispanics between 1983 and 2016.
The three wealthiest families in the U.S.—the Waltons (Walmart), the Kochs, and the Mars—have seen their wealth increase nearly 6,000% just in the past generation. Median household wealth over the same period went down by 3%.
Tuesday’s results were perfectly coherent, a fight over two concepts central to our nation’s origins, its progress, and its future: the promises of and restrictions on political representation and political enfranchisement.
We are already paying a high price for inequality, but it is just a down payment on what we will have to pay if we do not do something—and quickly. It is not just our economy that is at stake; we are risking our democracy.