Wealth Gap Is Widest In Some Affluent US Cities

WASHINGTON (AP) – The 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 the national average, 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.”

Read more at http://www.philly.com/philly/business/homepage/20140220_ap_9abeed9da7e24c51a0a078a9ca8c73b9.html#fRdwGmPM2m6ZEQji.99

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