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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