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The racial wealth gap in the US keeps getting bigger a?? and it could cost the economy as much as $1.5 trillion by 2028

The racial wealth gap in the US keeps getting bigger a?? and it could cost the economy as much as $1.5 trillion by 2028
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Wealth inequality is projected to cost the US economy up to $1.5 trillion between 2019 and 2028, according to McKinsey.




The wealth gap between the median black and white families in the US has jumped $54,000 since 1992, McKinsey found.




Presidential candidates and billionaires alike have proposed a wealth tax to close the gap, Business Insider previously reported.




Visit Business Insider's homepage for more stories.



The United States' wealth gap is hurting more than just the poorest Americans. It's stifling economic growth too, according to a new report by consulting firm McKinsey & Company.
The concentration of wealth among America's highest earners will cost the economy between $1 trillion and $1.5 trillion between 2019 and 2028, McKinsey estimates.
The United States' wealth gap is steadily widening, especially along racial lines. In 1992, the median net worth of white families was $100,000 above that of black families, according to McKinsey. By 2016, the median white family was $152,000 wealthier than its black counterpart. During that period, the median wealth of white families grew over $50,000, McKinsey reports, but the median wealth of black families did not grow at all in real terms.
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