Quote of the Day

“Much of the recent debate over inequality has focused on income — what people earn in a given year. But in some ways, wealth is even more important. Wealth is what gives families a safety net in case of a lost job or a medical emergency; it’s what ensures workers a secure retirement or gives them the flexibility to start a business; and it’s what allows parents to give their children a head start in life. The recession hit wealth even harder than it hit income: Many Americans who held onto their jobs saw their net worth plunge when the housing bubble burst and the stock market crashed.” ― Ben Casselman