Income inequality in the US is complicated by racial identity, according to Inequality.org. This organization has collected data from the Federal Reserve Board’s triennial Survey of Consumer Finances to demonstrate that:
The racial gap in median income has closed slightly over the last 20 years. Nonwhite families earned about half of what white families earned in 1989. This closed to 70 percent in 2007 and slipped back to 65 percent in 2010.
But the gap in assets runs much wider. White families claim about six times the net worth of non-white families, a gap that has changed little over the past generation.
Click here for an interactive chart and fuller explanation and evidence.
The Urban Institute offers a number of interactive graphics for visualizing the wealth gap by race; click here for access to these.
For a collection of articles from The Huffington Post on this topic, click here.
The Institute for Assets and Social Policy at Brandeis University released a report that offers some paths for narrowing the gap. The report begins:
Growing concerns about wealth inequality and the expanding racial wealth gap have in recent years become central to the debate over whether our nation is on a sustainable economic path. This report provides critical new information about what has fueled the racial wealth gap and points to policy approaches that will set our country in a more equitable and prosperous direction.