For a long time, America has been a great nation where people can progress and advance by working hard, and a great place for millions of immigrants. Lately, there has been a negative trend in the US -- a growing Wealth Gap. The most dramatic aspect of this inequality is that it is related to the ethnic composition of the US population, as many Black and Latino families are impoverished. On the other hand, White families have seen an increase in their median wealth over the last decades

How has evolved the wealth of the US households?

According to a report from Usa Today, there were dramatic changes from 1983 to 2013 in the median wealth of US households.

African-American families were hit hard, as their median wealth fell to just $1,700 which is a very small amount of money, and it is also a reduction of 75 percent. The wealth of a typical Latino family fell 50 percent to just $2,000. It's even worse if we consider that the cost of living was significantly less three decades ago, so, this is a serious problem. On the other hand, the median wealth of the typical White family grew 14 percent, reaching $116,800 in 2013. This is modest growth, but it's much better than in the other cases.

Median wealth could become zero

If there are no changes in the future, the median wealth of a Black American could be equal to zero in 2053 according to a report by USA Today.

The same impoverishment process will happen to Latinos about twenty years later. The ethnic minorities will become a majority by 2043, so, most Americans will be poor people.

Will the US be like Canada or Brazil?

This impoverishment will create huge economic and social problems, and the US will be more similar to an unequal society like Brazil than to Canada.

The northern neighbor has invested a lot in health and education, which is an effective way to fight against poverty. The economic and social development of the US should go hand in hand.

The US has to recover its lost glory

A few decades ago the US was more similar to Canada, so, America needs economic policies that promote the development of its middle class.

Homeownership and education are key elements to improve the living conditions of the American families. There must also be changes in the tax policy that favor the development of the middle class, America is an advanced nation that has the economic resources, technology and capacity to improve the living conditions of all its population.

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