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Five things we learned about wealth inequality and Latinos

The Urban Institute published Nine Charts about Wealth Inequality in America that show that the gap between whites, Latinos and African American families has…

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The Urban Institute published Nine Charts about Wealth Inequality in America that show that the gap between Whites, Latinos and African-American families has been getting worse in the last 50 years. Here’s what we learned about Latinos and wealth inequality for 2013.

1. White families had six times the wealth of Latino families and seven times the wealth of African-American families.

2. A White person earns $2 million over a lifetime, an African-American $1.5 million, and Latino $1 million. 

3. 69 percent of White families owned a home, compared to 43 percent of African-American and 45 percent of Latino.

4. White families averaged over $100,000 more (or 7 to 11 times more) in liquid retirement savings than African American and Latino families. 

5. The federal government spent $384 billion to support asset development during the year. About two-thirds of homeownership tax subsidies and retirement subsidies go to the top 20 percent of taxpayers, as measured by income. The bottom 20 percent, meanwhile, receive less than 1 percent of these subsidies.

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