The racial wealth gap reduces the buying power of black families and prevents investment in the housing and equities markets, according to McKinsey.
Wealth inequality is projected to cost the US economy up to $1.5 trillion between 2019 and 2028, according to McKinsey. The wealth gap between the median black and white families in the US has jumped $54,000 since 1992, McKinsey found. Presidential candidates and billionaires alike have proposed a wealth tax to close the gap, Business Insider previously reported. Visit Business Insider's homepage for more stories.
Wealth inequality is projected to cost the US economy up to $1.5 trillion between 2019 and 2028, according to McKinsey. The wealth gap between the median black and white families in the US has jumped $54,000 since 1992, McKinsey found. Presidential candidates and billionaires alike have proposed a wealth tax to close the gap, Business Insider previously reported. Visit Business Insider's homepage for more stories.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Boockvar: U.S. consumer is keeping us out of recession'We have government policy that is now trying to kill this economic expansion,' says Peter Boockvar, Bleakley Advisory Group Chief Investment Officer & CNBC Contributor, as he discusses a wild week in trading, global markets, and the risk of recession.
Read more »
China to counter latest U.S. tariffs as Trump vows deal on U.S. termsChina's threat to impose counter-measures to the latest U.S. tariffs knocked stocks sprawling on Thursday, after an earlier rout sparked by fears of a world recession. More:
Read more »
U.S. housing starts fall further, but permits at seven-month highU.S. homebuilding fell for a third straight month in July amid a steep decline i...
Read more »
Us Weekly's Hot Hollywood on Apple PodcastsMiley and Liam may be over (💔) but we're just getting started with all the juicy news of the week on our HotHollywood podcast! Listen and subscribe: iTunes: Non-iTunes:
Read more »
What a mysterious explosion tells us about Russia's 'doomsday weapon'An explosion. An abruptly-canceled evacuation. Five dead nuclear experts. And a few traces of radioactive iodine in Norway. These are the fingerprints of what appears to have been Russia's latest failed bid to test its so-called 'Skyfall' missile.
Read more »
How The U.S. Army Can Play A Much Bigger Pacific Role Deterring ChinaWashington could get more military leverage against China by using its soldiers imaginatively in the Pacific.
Read more »