The wealth gap between blacks and whites has ballooned since the middle of the Reagan administration, nearly tripling between 1984 and 2009, according to a new Brandeis University study.
The study, released Wednesday, found that the median white household held a net worth of $265,000 by 2009, eight times more than the median black household's net worth of just $28,500. That division will continue to haunt black Americans for years to come, according to Tatjana Meschede, a co-author of the study.
Racial Wealth Gap Tripled Since Reagan Era As Whites Increase Large Lead Over Blacks: Study
How is this happening? I know the average wages in this country have remained stagnant, but my impression has been that black folks slowly but surely have shattered the glass ceiling in many industries. I guess I was wrong.