The racial wealth gap reduces the buying power of black families and prevents investment in the housing and equities markets, according to McKinsey.
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.
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.
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