wealth gap

Viral Video Explains the Huge Gap Between the Rich and You

Considering the sort of things that usually go viral on YouTube, you might not expect a six-minute video titled "Wealth Inequality in America," to make the grade. But its powerful snapshot of the American economic landscape is grabbing attention in a way that years of pontificating pundits haven't been able to.

Median Family Wealth Is at a 43-Year Low, Study Finds

A recent study by NYU economics professor Edward N. Wolff puts the decline of the American middle class in a whole new perspective: According to Wolff's calculations, the median net worth of American households has now reached a 43-year low. And that's not only troubling statistic he found.

The End of Men? More Like Tough Times For Everyone

The recession hit men hardest, and women are doing better in the recovery, too. But the popular idea that the era of the female-dominated economy is at hand is distracting us from a deeply disturbing trend: Women's apparent gains are camouflaging a massive decline for workers of both genders.

Sandy Highlights the Wealth Gap, Forces Rich to Drink Good Wine

A hurricane can be the ultimate equalizer. No matter where on the socio-economic spectrum they stood before the storm, its victims afterward had many of the same needs: food, shelter, electricity and flushable toilets. But some "necessities" are of a more sophisticated nature.

Oh, Canada! Americans' Northern Neighbors Are Now Richer

The U.S. may be the "land of opportunity," but Canadians are making out better. In the past five years, the net worth of Canadian households has surpassed that of their American counterparts for the first time. And the reasons why will be as depressing for Americans as the news itself.

Bill Clinton's Prescription for the U.S. Economy

Former President Bill Clinton offered up some wide-ranging prescriptions for curing the nation's ailing economy in a speech at the National Retail Federation's annual convention Monday, from investing in new sectors for job growth to cutting taxes on business.

It's Official: Wealth Gap Is Our No. 1 Source of Conflict

Do you think that the biggest conflict in America today is between the rich and the poor? If so, join the club: According to a recent Pew Research Center poll, 66% of Americans believe the wealth gap is the greatest cause of tension in this country.

U.S. Wealth Gap Between Young, Old Is Widest Ever

The wealth gap between younger and older Americans has stretched to the widest on record, worsened by a prolonged economic downturn that has wiped out job opportunities for young adults and saddled them with housing and college debt.

The Opposite of 'Yuppie'? Naming Our Hard Times

The young, upwardly mobile professional was the defining American character in the 1980s, and caused us to coin the word "Yuppies." Today, the dominant trajectory is the reverse: Downward mobility, unemployment and poverty are the defining themes. We're in the Dumps -- so are Dumpies the new Yuppies?

How Rich Is Rich? Where We Draw the Wealth Line

America has always had a love/hate relationship with its wealthiest citizens, and the Great Recession has only made it worse. The trouble is, while everybody knows that "the rich" are the enemy, it's hard to determine where exactly the line lies between salt-of-the-earth members of the middle class and the bloated plutocrats.

Great Recession Created a Historic Racial Wealth Gap

The twin demons of the housing market crash and the Great Recession have created historic wealth gaps among racial groups in America: The median wealth of white households is 20 times that of black households, and 18 times that of Hispanic households. The main culprit in minority wealth loss? The housing bust.