S E20: Inequality - Understanding the Gap between Rich and Poor
Think Like An Economist
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The Differences Between Income and Wealth
Income and wealth are not the same thing because we tend to use them interchangeably. Wealth tends to grow over time and typically that growth isn't taxed, making it easier for wealth to accumulate. Wealth differences are also particularly extreme if we look by race. For example, in the US, the typical white family has eight times the wealth of the typical black family.
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