August 21, 2014
Wealth Gap Widens: 2000-2011
The widening wealth gap is a political as well as economic issue with broad ramifications for American society.
"According to Distribution of Household Wealth in the U.S.: 2000 to 2011 and associated detailed tables, median household net worth decreased by $5,124 for households in the first (bottom) net worth quintile and increased by $61,379 (or 10.8 percent) for those in the highest (top) quintile (Figure 1). Median net worth of households in the highest quintile was 39.8 times higher than the second lowest quintile in 2000, and it rose to 86.8 times higher in 2011." Although the political factions in our country hold widely differing views as to whether or not this is a problem, and if so, how to address it, improving the quality of K-12 education, which certainly requires a larger financial commitment, is certainly one part of a complex picture. However, all the anti-tax rhetoric stands in the way of solving a critical issue facing the U.S.