MOSCOW, September 10 (RIA Novosti) - Close examination of the 2013 Survey of Consumer Finances (SCF) released by the Federal Reserve reveals a massive racial wealth gap in the United States where Caucasian families were found to "own almost everything," Demos, an American public policy organization, reported.
"Whites hold an extremely disproportionate amount of the national wealth. Whites are also the largest racial group. Consequently, whites own almost all of the wealth in the nation," Demos stated.
According to the 2013 Survey, the median Caucasian family has a net worth of $134,000, median Hispanic family has a net worth of $14,000, and median African-American family has a net worth of $11,000.
The racial wealth distribution statistics reveal a disproportionate amount of national wealth held by Caucasians, a startling 90 percent.
Hispanic families hold 2.3 percent of the national wealth and African-American families hold some 2.6 percent.
The remaining 5.1 percent of national wealth is held by other races in the country.
"All white families have more wealth than their non-white counterparts, but it is really the upper half of whites—and especially the top 10% of whites—who own nearly everything," Demos stated.
The study also broke down wealth amongst Caucasians revealing the top 10 percent of Caucasian families own 72.3 percent of the 90 percent of Caucasian wealth while the bottom half holds some 2.2 percent.
This means the top 10 percent of Caucasian families own 65.1 percent of all wealth in the United States while the bottom half owns 2 percent of the national wealth.
