Wealth inequality in the US has dramatically increased over the past six decades, with the top 1% controlling more assets than ever before. In 2022, the wealthiest families had 71 times the wealth of median-income families. The racial wealth gap remains a significant issue, as families of color, especially Black families, possess the least wealth and this gap has not decreased in 70 years. Addressing these inequalities requires comprehensive public policy solutions that provide equitable access to wealth-building resources, despite fierce political opposition to such measures.
In the past 60 years, America witnessed a massive transfer of wealth from the middle class to the wealthiest families. By 2022, the wealthiest families had 71 times the wealth of families in the middle.
Unchecked wealth inequality limits economic growth, destabilizes democracies, and corrodes social trust. These are not theoretical concerns for those living in the United States in 2025.
Fighting wealth inequality requires two things: a clear articulation of policy solutions and a strategy to turn ideas into real public policy that is passed into law.
To close the racial wealth gap, public policy must address the real, structural cause of wealth inequality, requiring equitable access to the assets and capital that build wealth.
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