Barbara Lee Responds to Rise in Wealth Gap Among Whites, African Americans and Latinos
Washington, D.C. – Congresswoman Barbara Lee (D-CA) released the following statement in response to the Pew Research Center Report entitled ‘Wealth Gaps Rise to Record Highs Between Whites, Blacks, and Hispanics: Twenty-to-One’ released today:
“The Pew Research Center’s report shows the drastic impact that the economic downturn has had on minority communities, pushing the wealth gap to record high numbers.
“Unfortunately, the statistics speak for themselves – the median wealth of white households is 20 times that of Black households and 18 times that of Hispanic households.
“This ‘recession’ has been nothing short of a depression for communities of color with disproportionate loss of wealth, housing, increased unemployment and poverty rates that are on the rise.
“It is time that we recognize that race is a factor in these growing economic inequalities and we can no longer afford to sweep this issue under the rug. We must put targeted policies in place that will invest in Black and Latino communities; that is the only way that we will ever close the ever-widening gap.”
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