Report: Louisiana has large wealth gap between rich, poor
BATON ROUGE, La. (AP) — Louisiana has one of the highest income inequality rates in the country.
That's the finding of a left-leaning organization that advocates for low- to moderate-income families, the Center on Budget and Policy Priorities.
The center's report released Thursday says the top 5 percent of Louisiana households have an average income 14 times larger than the bottom 20 percent of households — and an average income nearly five times larger than middle-income households.
The poorest 20 percent of residents have an average income of $16,900, compared to $238,600 for the richest 5 percent, according to the data.
The report urges state tax policy changes to close the gap.
According to the report, states with the largest wealth gaps are New York, California, Connecticut, Louisiana, Massachusetts, Illinois, New Jersey, Florida, Georgia and Texas.
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Posted on Fri, December 16, 2016
by Associated Press