TV News LIES

Saturday, Mar 25th

Last update05:20:13 AM GMT

You are here News Economy Wealth gap is widest in some affluent US cities

Wealth gap is widest in some affluent US cities

E-mail Print PDF

NYCThe gap between the wealthy and the poor is most extreme in several of the United States' most prosperous and largest cities.

The economic divides in Atlanta, San Francisco, Washington, New York, Chicago and Los Angeles are significantly greater than in the rest of the country, according to a study released Thursday by the Brookings Institution, the Washington-based think tank. It suggests that many sources of both economic growth and income inequality have co-existed near each other for the past 35 years .

These cities may struggle in the future to provide adequate public schooling, basic municipal services because of a narrow tax base and "may fail to produce housing and neighborhoods accessible to middle-class workers and families," the study said.

"There's something of a relationship between economic success and inequality," said Alan Berube, a senior fellow at Brookings. "These cities are home to some of the highest paying industries and jobs in the country."

At the same time, Berube noted, many of these cities may inadvertently widen the gap between rich and poor because they have public housing and basic services that make them attractive to low-wage workers.

The findings come at a delicate moment for the country, still slogging through a weak recovery from the Great Recession. Much of the nation's job growth has been concentrated in lower-wage careers. Few Americans have enjoyed pay raises. President Barack Obama is pushing for a higher minimum wage. Protesters in San Francisco have tried to block a private bus that shuttles Google employees from gentrifying neighborhoods to their offices in Silicon Valley.

More...


Most Recent Related Stories...


Fed hikes interest rates, signals two more increases for 2017

Interrest rates increaseThe Federal Reserve’s top policymaking body on Wednesday pulled the trigger on another increase in interest...

Deutsche Bank plunges back into the red with $2 billion loss

Deutsche Bank in the redDeutsche Bank is firmly back in the red.Germany's biggest bank posted a net loss of €1.9...

GM to lay off 1,100 at Michigan plant, move Acadia

GM to lay off 1,000General Motors Co. will lay off as many as 1,100 workers at its Lansing Delta Township...

Dow hits 20,000 following solid open for US stocks

DOW tops 20,000The Dow Jones industrial average crossed the 20,000 mark for the first time Wednesday, the latest...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!