‘Richest Generation’? Baby Boomers Face Deep Inequalities

It’s a familiar trope in U.S. society that baby boomers are the “richest generation.”

But a report released online Thursday by the Population Reference Bureau shows that wealth is unequally distributed among this demographic, with people born between 1946 and 1964 facing pronounced disparities along race and gender lines.

For people 65 and older, the poverty rate has decreased dramatically over the past half century—from almost 30 percent in 1966 to 10 percent today, notes Aging in the United States (pdf).

However, closer examination shows wide gulfs within this demographic.

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