Recently in class we talked about America's huge wealth gap and that got me thinking. How bad is it?
I found an article from the Pew Research Center that stated, "In 2013, the median wealth of the nation’s upper-income families ($639,400) was nearly seven times the median wealth of middle-income families ($96,500)" This is shocking that on average upper class families make 7 times more than middle income families. This is particularly concerning because upper class families don't spend the same amount proportionally. What I mean by this is a hot dog for someone in the upper class doesn't cost 7 times as much as for someone in the middle class, it costs the same. For the upper class people the percentage they spend on certain consumer items (food, clothing, toiletries) is not nearly as much as for a middle/lower income person.
It is very important to consider critically when it comes to issues like these. Nobody tells the full story.
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