It may be more proof that the middle-class is shrinking. A new report by the left-leaning Economic Policy Institute says the wealthiest Americans' net worth is 288 times more than the average household. Net worth counts all assets, including real estate holdings, minus debts.
The median household saw its net worth drop to 57-thousand-dollars in 20-10, down from 73-thousand in 19-83. The top one-percent on the other hand, saw their average wealth grow to 16-point-4 million, up from 9-point-six-million, in the same time frame.
While the wealth and income gaps have been expanding for decades, the report shows that the trend was accelerated during the Great Recession.
(source: CNN)
